PYMNTS
MAY 22, 2020
If you want to know how consumers feel about faster payments, talk to the millions of Americans who still have not received stimulus money as of mid- to late-May. The U.S. real-time payments void has hurt commerce, too, as PYMNTS research finds that close to 39 percent of small to mid-sized businesses (SMBs) have reduced payrolls to help relieve cash flow stress, and nearly 30 percent simply went under.
Future CFO
MAY 21, 2020
COVID-19 reminds businesses that economic conditions are never predictable, and that strategies need to quickly adapt to the conditions of the times. The uncertainties in the global supply chain caused by COVID-19 have put finance and procurement leaders into positions where their contribution is more pronounced. This ebook provides a framework for Finance and Procurement leaders to build a resilient company in uncertain times.
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CFA Institute
MAY 17, 2020
Joachim Klement, CFA, is confident of one post-pandemic forecast: Fewer things will change than we expect.
PYMNTS
MAY 20, 2020
Is now the prime time for blockchain ? As COVID-19 has disrupted supply chains worldwide, Brian Behlendorf , executive director of Hyperledger , told Karen Webster that the pandemic has spurred a shift in thinking about new use cases for permissioned blockchains. Increasingly, firms seek accountability and visibility into suppliers, vendors and transactions in real time.
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
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PYMNTS
MAY 16, 2020
Credit card giant Visa has filed an application for a U.S. patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. “According to the [details] discussed herein, the payment ecosystem may become entirely (e.g. 100 percent) digital,” Visa wrote in its application, which was originally filed with the
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
MAY 19, 2020
Amazon could be in talks to acquire the bankrupt clothing retailer JCPenney , Fox Business reported, citing Women’s Wear Daily (WWD). JCPenney officially filed for bankruptcy late Friday (May 15), ending speculation as to the beleaguered former retail titan’s financial status. Now, Amazon could be moving in. One source, according to WWD as reported by Fox Business, was “in Plano as we speak,” referring to the Texas city where JCPenney is headquartered.
PYMNTS
MAY 22, 2020
The government of Dubai is planning to create an $870 million free trade zone for eCommerce named Dubai CommerCity (DCC). The development project will be located next to Dubai International Airport. . The project is being developed collaboratively with two state-owned enterprises — the Dubai Airport Freezone Authority ( DAFZA ) and the property firm wasl.
PYMNTS
MAY 22, 2020
For credit unions (CUs), the shift to digital banking is here — and depending on how you look at it, the pivot, by necessity, took only a few months. In an interview with Karen Webster, Todd Clark , CEO of CO-OP Financial Services , said the past eight weeks have spurred CUs to grapple with significant changes in member activity across every channel, and an economic landscape that has presented members with momentous challenges.
PYMNTS
MAY 22, 2020
In the early days of enforced social distancing measures, there was a presiding confidence that any economic disruption would be temporary and fairly short. Analysts were nearly universally predicting a “V-shaped” U.S. recovery — a fast drop with a quick stop, then a rapid reset back to normal. End-to-end, things would recover by 2020’s end. But things are looking far less certain now in that regard.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
PYMNTS
MAY 22, 2020
From competitors to collaborators, the FinTech boom introduced a field of opportunity for traditional financial institutions to team up with an industry newcomer to become more agile and modern with their own product offerings. While FinTechs are, in many ways, useful allies to banks, traditional FIs can also be a critical partner to FinTechs that lack the resources or opportunity to acquire their own banking license.
PYMNTS
MAY 21, 2020
When the pandemic is over, there will be thousands of books written about the ways the coronavirus changed daily life, globally. Among those will be – or should be – a tome on how the great shift to digital commerce drove merchants to connect to multiple services. In an interview with Karen Webster, Justin Benson, CEO of Spreedly , said the shift is a critical one, requiring merchants to rethink how they approach payments and, as a result, optimize revenues.
PYMNTS
MAY 20, 2020
China’s Alibaba Group is putting $1.4 billion into the development of artificial intelligence (AI) for its Tmall Genie smart speaker, the company said in a statement on Wednesday (May 20) following a press conference. The upgrade and innovation centered around its flagship Tmall Genie smart speaker will use proprietary technologies that combine AI and the Internet of Things (IoT).
PYMNTS
MAY 21, 2020
In healthcare, increasingly, data is critical for addressing inefficiencies in a system that is nearly 18 percent of U.S. GDP. And perhaps, most critically, matching patients with the right doctors, and various healthcare professionals with the right pharmaceutical companies during research and trials can speed treatments and new drugs as they move from concept to real-life therapies.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
PYMNTS
MAY 22, 2020
The self-employed might regret getting one of the Paycheck Protection Program (PPP) loans from the Small Business Administration (SBA). CNBC reported these independent contractors who borrowed from the PPP face the prospect of not getting the balance forgiven. Under the terms of the CARES Act, businesses don’t have to repay the loan if they spent at least 75 percent of the proceeds on payroll and no more than 25 percent for other items.
PYMNTS
MAY 21, 2020
Home sales fell to a 10-year low in April as buying and selling have been challenged by the COVID-19 pandemic, according to the National Association of Realtors (NAR). For the second consecutive month, each of the nation’s four regions saw sales dwindle in year-over-year sales, with the West seeing the greatest dip. Total existing-home sales – including single-family homes, townhouses, condominiums and co-ops – dropped 17.8 percent in April to 4.3 million, compared to the same month a year ago w
PYMNTS
MAY 19, 2020
FinTech payments platform Nium , based in Singapore, is expanding its global reach to service Kasikornbank’s Asia-Pacific customers in Indonesia, Korea, Malaysia, the Philippines and Vietnam. In a joint statement, the two companies said the move is part of an effort by Kasikornbank (KBank) to ramp up its “digital cross-border payments offerings” as social distancing measures become the new normal.
PYMNTS
MAY 22, 2020
Boston’s Petit Robert Bistro , one of the city’s fanciest French restaurants, started 2020 with expectations that were anything but small. Mild winter weather in Boston had led to stronger-than-average performances in January and February, and owner Loic Le Garrec told Karen Webster in a recent conversation that he expected going gangbusters through his typically busy spring season.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
PYMNTS
MAY 21, 2020
The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. As politicians across the globe grapple with the pandemic’s continued economic fallout and the need to get stimulus funds to individuals, corporations and even local governments with speed and security, digital delivery of those dollars is likely to gain increasing traction.
PYMNTS
MAY 19, 2020
To enable businesses to more easily list their merchandise on its social media platforms, Facebook has unveiled Facebook Shops. The free feature will allow companies to place product listings on their Facebook Page, Instagram profiles and stories, or in ads, CNBC reported. The social media company had allowed companies to list items on Instagram and Facebook in the past.
PYMNTS
MAY 21, 2020
Indian food delivery startups Swiggy and Zomato will start delivering alcohol in some cities in an effort to meet the increased demand for booze during the lockdown. Ranchi, the capital of Jharkhand, will be the first area to get alcohol delivered. “We believe that a technology-enabled home delivery based solution can enable responsible consumption of alcohol as well as provide an option that’s safer and promotes social distancing,” a Zomato spokesperson told the Economic Times in a report on
PYMNTS
MAY 18, 2020
Uber plans to cut 3,000 more jobs and close 45 offices — all while eyeing other cutbacks as the COVID-19 economy keeps pummeling the ride-hailing giant. Job cuts do not include drivers, who technically are not employees. Meanwhile, the company is seeking to buy Uber Eats rival Grubhub, which spurned the offer over the weekend. The talks between the two companies have so far not been fruitful.
Speaker: David Warren and Kevin O’Neill Stoll
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
PYMNTS
MAY 22, 2020
Amid the ongoing spread of the pandemic throughout the country, Ross Stores, Inc. reported total Q1 sales of $1.8 billion compared to $3.8 billion in the prior year. The retailer said it wasn’t reporting comparable-store sales, as its shops were open for less than seven weeks of the 13-week period, per an announcement. Ross Stores also registered a loss per share of 87 cents compared to earnings per share of $1.15 for the past year period.
PYMNTS
MAY 18, 2020
A COVID-19 vaccine being developed by the Cambridge, Massachusetts firm Moderna is showing early signs of promise, with an early-stage human trial showing some compelling results. This much-awaited bit of good news in the fight against the novel coronavirus sent shivers of anticipation through the stock market, which drove the company’s shares up some 26 percent intraday as the development broke.
PYMNTS
MAY 19, 2020
Payment collections software company Ontario Systems has acquired SwervePay to help bolster its electronic payment capabilities, according to a press release. Electronic payments processing is becoming “increasingly critical” for Ontario Systems’ customers, which mandated the acquisition of SwervePay acquisition, a payment facilitator in the accounts receivable management and healthcare industries.
PYMNTS
MAY 19, 2020
The digital shift will not have paper coupons. It remains to be seen if the pandemic and its hypervigilance about potential germs will wash what’s left of them away, but digital coupons are growing right along with the crisis-driven move to eCommerce. Inmar Intelligence , one of the leaders in digital couponing, reported last week that enrollment in digital coupon programs among the top 30 percent of national grocery chains has grown 93 percent year over year since March 1.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
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