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MoneyGram has partnered with Suez Canal Bank to let customers send money right into Egyptian bank accounts, according to a press release. The deal will expand MoneyGram’s presence in Egypt and give it access to Suez Canal’s large network of correspondent banks around the globe. The bank will also connect with MoneyGram’s platform and offer customers new deposit services to give customers an enhanced experience.
A new calendar year can be a great time to take a renewed, fresh look at your business planning and performance management. What has been working well? What hasn’t? Where to begin? Let’s go back to the basics for a few minutes: From the definition of Enterprise Performance management through its business value. How does EPM fit within a business’s existing technology architecture?
As a business owner, you see a lot of numbers from day to day. As you look at your financials, it may be overwhelming to make sense of everything. Today, we talk about the importance of regularly analyzing your finances and some easy tricks to do it! Be Organized Organization is a must for any business owner, but it especially applies when looking at your business finances.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
The rumors about hand-based payments out of Amazon have been building for the last few months. In early September 2019, reports emerged that Amazon was testing hand recognition-based payments at Whole Foods locations using its New York employees and some custom-fitted vending machines as an initial experiment. There were also New York Post reports that the technology might make an appearance at Whole Food checkouts this year.
More than 90% of treasurers report that responding to KYC (Know Your Customer) requests is more challenging today than it was five years ago, according to a survey by SWIFT recently. . In addition, more than 50% reduced the number of banks they work with to avoid lengthy KYC processes, negatively impacting banking relationships, survey results indicate.
More than 90% of treasurers report that responding to KYC (Know Your Customer) requests is more challenging today than it was five years ago, according to a survey by SWIFT recently. . In addition, more than 50% reduced the number of banks they work with to avoid lengthy KYC processes, negatively impacting banking relationships, survey results indicate.
In a move that signals Tokyo’s concern regarding China’s effort to make a digital yuan, as well as Facebook’s Libra, a collection of ruling party legislators is crafting a proposal for Japan to create its own cryptocurrency. However, Japan is not likely to issue crypto in the near future because of the legal and technical obstacles, Reuters reported.
Cross-border peer-to-peer (P2P) payments firm MoneyGram has teamed up with foreign exchange and global money transfer company LuLu Money , MoneyGram announced on Tuesday (Jan. 21). The Philippines-headquartered LuLu Money will use MoneyGram’s API-driven platform to interface with leading consumer-centric capabilities and advance its global network. Adeeb Ahamed, managing director of LuLu Financial Group , which is headquartered in Abu Dhabi, said the collaboration with MoneyGram “will revolution
Cash flow management remains a major headache for small companies of all kinds, preventing many firms from making payroll, paying bills or even staying in business. Getting a handle on cash flowing in through accounts receivable (AR), and money flowing out through payroll and accounts payable (AP), is no easy task for resource-strapped SMBs – but in the auto collision market, cash flow complexities can be more extreme than the average mom-and-pop shop.
In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.
Faster and real-time payments capabilities continue to proliferate in the global financial services arena, and consumers aren’t the only beneficiaries of the trend. Corporates, too, are beginning to explore opportunities in real-time transactions in areas like payroll and intra-company payments. The acceleration of the movement of money is likely to have significant implications for how organizations of all kinds – particularly banks and financial institutions (FIs) manage liquidity.
Among other strategies, the U.K. has enlisted a name-and-shame approach to late-paying corporates. Yet analysts agree that the late B2B payments problem continues to worsen. According to recent reports by U.K. publication The Times , small to medium-sized businesses (SMBs) face an extra hurdle when chasing down late payments: collection efforts can damage the buyer-supplier relationship.
The New York City Council on Thursday (Jan. 23) passed a ban on cashless food and retail stores. The ban was reportedly spearheaded by Councilmember Ritchie Torres. After the decision, Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union (RWDSU), praised the Council for doing away with cashless stores , saying that forcing customers to use only credit or debit is “discriminatory” and serves as a disadvantage for low-income customers, people of color, undocu
Italian postal service Poste Italiane is introducing a new payments technology in an effort to attract more domestic small businesses, according to a report by Reuters. Marco Siracusano, the head of digital payment company PostePay, shared the news on Friday (Jan. 24). Poste Italiane’s new technology will be based on QR codes , which let buyers pay for things using their phones without the use of a POS terminal.
Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.
With an array of bills brought forward by lawmakers during this legislative session, Washington state could become a leader in artificial intelligence regulation. The legislation homes in on digital profiling as well as biometric screening and is part of a wider list of bills related to technology that the state legislature is mulling, GeekWire reported.
Mastercard and digital personal finance company SoFi have teamed up on a suite of products and experiences to benefit SoFi’s nearly one million customers, the companies announced in a release. The partnership starts with the SoFi Money debit card, an offering that will exist exclusively on the Mastercard network. SoFi’s card will provide an additional way for customers to spend with their SoFi Money cash management accounts.
Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. As stated in a report to the Senate Select Committee on Financial Technology and Regulatory Technology, the Reserve Bank of Australia (RBA) said it has “established a small in-house Innovation Lab as a way to strengthen engagement with, and understanding of, new and emerging technologies that are relevant to its policy and operational responsibilities
The U.S. population is getting older. Today, there are roughly 50 million Americans over the age of 65, according to the U.S. Census Bureau , and that number will rise sharply over the next decade. By 2030, the Census estimates there will be 78 million Americans over the age of 65 – that means one in every five residents of the U.S. population will be retirement age.
Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.
FinTech solution company Entersekt has upgraded its authentication technology in the DACH region of Europe, according to a release. The company recently announced that the software company Netcetera implemented the authentication system for Bank-Verlag, a company that makes and provides secure services for Germany’s banks. Two major Austrian card issuers are also using the technology.
Don’t look now, but virtual reality and augmented reality are starting to make bigger gains in the retail world. These are still early days but trends are coming together — and expectations are rising, thanks not only the evolution of AR and VR technology, but the coming deployments of 5G mobile network ecosystems. PYMNTS research helps illustrate some of those recent developments.
The Rockefeller Foundation , along with the Mastercard Center for Inclusive Growth , announced their new platform data.org today in Davos. The site will be a dynamic platform for data science partnerships committed to improve the field’s social impact. The philanthropy organizations also revealed today a $10 million “impact challenge” to crowdsource data science initiatives and solutions for organizations in the non-profit, civic, and government space.
Gig workers will make up a full half of the American workforce by 2028, responsible for creating online content, designing webpages and conducting local food or historical tours, as well as ferrying passengers for rideshares or renting out their homes on homesharing platforms. This growing segment of workers took home $1.4 trillion in earnings in 2018, but many of these payments were sent out via frustratingly complex and slow payment methods.
Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
German smartphone bank N26 , valued at $3.5 billion by investors, now has 5 million customers, co-founder Valentin Stalf said. Berlin’s most valuable FinTech startup grew from the 3.5 million users it reported in the summer of 2019. “We added more customers in 2019 than we did in all the prior years put together,” Stalf, 34, added in an interview. Stalf would not divulge financials or share market demographics, but noted growth at N26 was strongest in Germany, France and Austria, with Italy and
Brad Garlinghouse, the CEO of Ripple, said that initial public offerings (IPOs) will start becoming more common in the fields of cryptocurrency and blockchain this year, according to a report by Cointelegraph. Speaking at the World Economic Forum in Davos, Garlinghouse said that Ripple itself might be one of those companies that could potentially go public.
Former Wells Fargo CEO John Stumpf has been banned from ever working in the banking industry again by the U.S. government, according to a report by CNBC. He will also have to pay $17.5 million for his role in a scandal at Wells Fargo involving millions of fake accounts created to meet the bank’s sales quotas. The Office of the Comptroller of the Currency (OCC) said that there will also be a number of other individuals selected for punishment involving the fake accounts scandal, including other e
Not to be cynical, but mention the world “stationery” to people these days and odds are they minds will move toward a similar word, stationary — the concept of lack of motion, as in a couch potato or a broken-down car on the side of the road. That’s understandable, given how viciously email, texting and other forms of digital and mobile communication have displaced actual writing — which, of course, would seem to reduce the need for actual stationery products.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
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