PYMNTS
JUNE 6, 2018
Blockchain has issued many promises in the financial services space, vowing improved efficiency, heightened transparency and unmatched security. The debate continues over whether distributed ledger technology can fulfill those promises, but analysts today say that, whether these benefits are actualized or not, markets will have to be patient to find out.
PYMNTS
JUNE 7, 2018
Payments are getting ever faster and global in nature. Real-time payments are becoming part of the landscape. PSD2 is reality and open banking is fostering demand for open APIs. To that end, collaborative efforts between banks and FinTechs are on the rise, where joint programs seek to hasten the availability of technology that dovetails with open banking.
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PYMNTS
JUNE 5, 2018
Millennials are finally moving out of mom and dad’s house and creating their own households, which has increased demand in the housing market. At the same time, supply has taken a hit due to a shortage of skilled labor. Rising mortgage rates and lumber prices are only compounding the problem. This imbalance of supply and demand is proving to be a perfect storm for home improvement chains.
PYMNTS
JUNE 5, 2018
The first baby born on the blockchain is expected to enter the world at a small clinic in rural Tanzania this week. What does that mean – to be born on the blockchain? Has the world finally gone too far with its distributed ledger obsession? Just the opposite, Niall Dennehy, COO of AID:Tech would argue – more like it’s finally found a use case that is more practical and more noble than cryptocurrencies.
Speaker: Frank Taliano
Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.
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PYMNTS
JUNE 5, 2018
McDonald’s has not had an easy road. It had to continually rebrand itself to keep up with changing consumer sensibilities around health. It has also had to shift strategies to keep up with competition from other QSRs — which is no longer just about the “burger wars” between McDonald’s, Burger King and Wendy’s , but has expanded to the breakfast hour as more chains crowd into the category that — for a while at least — set McDonald’s apart.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
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PYMNTS
JUNE 5, 2018
Citi is the first corporate bank to enroll in the U.K.’s Open Banking Directory in an effort to enhance payment and collection services for business clients, the FI said Monday (June 4). Citi announced it is joining the Directory as a Payment Initiation Service Provider (PISP), enabling the bank to pilot payment and collection services for its corporate customers. “We see open banking as a significant development in the banking landscape in Europe and increasingly in other regions, a
PYMNTS
JUNE 4, 2018
Bank of America and Harvard University have collaborated on a new initiative designed to make the complex technologies behind artificial intelligence (AI) and machine learning (ML) more universally beneficial and accessible to the global workforce. The mission of the newly formed Council on the Responsible Use of Artificial Intelligence is to address issues of policy and ethics, thereby enabling industries and the individuals who drive them to keep pace with the rapidly evolving interface betwe
PYMNTS
JUNE 7, 2018
Community banking can be one of the most rewarding and most challenging areas of financial services in which to work — that’s the view, anyway, of Rebeca Romero Rainey, president and CEO of Independent Community Bankers of America (ICBA) , who recently joined the nation’s leading advocacy organization that exclusively represents community banks. Rainey is a third-generation community banker who spent her entire career at all levels of the industry — literally: She grew up in her family bank, sta
PYMNTS
JUNE 8, 2018
IBM is teaming up with Intellect Design Arena to deliver new solutions for corporate banks, according to a press release on Thursday (June 7). The technology conglomerate is deploying its IBM Cloud solution in conjunction with Intellect Global Transaction Banking (iGTB), a provider of corporate banking technology. The two companies will jointly develop applications, cloud services and infrastructure for financial institutions (FIs), while iGTB’s CBX S-18 corporate banking platform will be
Speaker: Claire Grosjean
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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PYMNTS
JUNE 5, 2018
Blockchain probably won’t solve all the world’s financial problems, as devoutly as innovators and enthusiasts may hope and believe that it can. At any rate, it’s not going to solve all of them at once with the technology available today. Esther Pigg, SVP Product Strategy of FIS , says blockchain’s potential benefits will instead be discovered gradually, and will change the industry even more gradually.
PYMNTS
JUNE 5, 2018
After launching its CitiConnect application programming interfaces (APIs) last year, Citi ‘s Treasury and Trade Solutions (TTS) continues to expand the platform. Since its rollout, Citi has processed more than 18 million API calls for account balance inquiries, payment initiation and payment status, the company said in an announcement. Through the API, CitiConnect offers information on account statements, direct debits and FX rates, among other data.
PYMNTS
JUNE 8, 2018
Sun Tzu might approve. As every general and C-suite pseudo-warrior knows, the ancient Chinese military theorist advised that every battle is won before it is ever fought — a saying that highlights the importance of preparation prior to any fight. The recent news that Goldman Sachs is the first financial institution (FI) to sign up with U.K.-based Immersive Labs for its cyber security war games demonstrates the enduring appeal of that adage.
PYMNTS
JUNE 8, 2018
Clarity , a startup that offers small businesses (SMBs) a way to manage their data , announced plans for a token sale before its official launch. Reports in Cointelegraph on Thursday (June 7) said Clarity will sell $50 million worth of its tokens to raise funds before its debut on the market. The company provides a platform for SMBs to manage their own data with added analytics, file sharing, benchmarking and third-party verification services.
Speaker: David Worrell, CFO, Author & Speaker
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
PYMNTS
JUNE 7, 2018
Automation may be transforming the procurement department, but when it comes to the buyer-supplier relationship, human interaction is critical. In a survey of B2B buying organizations conducted by SnapApp and Heinz Marketing last year, researchers found that millennial corporate buyers rank their personal relationships with suppliers as the most effective way to evaluate products and services that vendors offer.
PYMNTS
JUNE 8, 2018
To verify payment cards at the point of sale (POS), Mastercard is looking into blockchain technology. In a filing with the U.S. Patent and Trademark Office (USPTO), the company said it has devised a process to send and retrieve payment credentials through a “publicly accessible blockchain,” CoinDesk reported. Through a two-way method, the system encodes an encrypted payment card image that is stored on the blockchain with a private and public key.
PYMNTS
JUNE 5, 2018
It won’t be medicine — or manufacturing, human resources, commerce or logistics. No, when it comes to the biggest immediate impact that artificial intelligence (AI) will have upon the world, financial services will likely take that honor — a looming prize that provides fresh opportunity to consider how machines will overcome bias. Anyone who reads the news or follows science fiction knows how important AI is becoming to business, and how much change it will almost certainly bring to civilization
PYMNTS
JUNE 6, 2018
IHOP is dead. Long live IHOb. As of this morning (June 6), the news came over the wires and rendered today as “a day that will live in infamy.” It is the day that the International House of Pancakes was no more. Instead, it will IHOb. What is the B? We don’t know. Only the executive team of IHOP knows — and they are not saying anything until Monday.
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
PYMNTS
JUNE 6, 2018
In the first service offered by Mastercard after integrating Vocalink last year, and with an eye on real-time payments, Mastercard Send is launching in the United Kingdom. Mastercard said in a release on Wednesday (June 6) that the payments service will make it possible for various stakeholders in the financial realm — ranging from financial institutions, digital customers, FinTech companies and various enterprises — to send real-time payments to U.K.
PYMNTS
JUNE 8, 2018
The Amazon -effect is back at it again in the B2B world. With eCommerce now a mainstay for consumers, B2B eCommerce is quickly coming into the fold, too. There is a lot of money to be earned. Statistics estimates that retail eCommerce sales will hit $4.5 trillion by 2021, a more than 246 percent increase from 2014. B2B eCommerce, on the other hand, is already estimated to enable $7.7 trillion in online sales — about 235 percent more than B2C’s current sales volume.
PYMNTS
JUNE 4, 2018
After applying for a banking license in Europe, Revolut plans to apply for one in United States in the near future. Chief Executive Officer Nikolay Storonsky said the startup could apply for a license in California by the end of 2018, Reuters reported. However, through a banking partner, Revolut plans to roll out services in the U.S. this summer. As of now, the company has five employees in New York and plans to open an office in California.
PYMNTS
JUNE 6, 2018
Everyone has heard of storing data in the cloud, but what about in the briny depths? On Wednesday (June 6), Microsoft lowered a submarine-like data center into the ocean off the coast of Orkney — a group of islands near Scotland — as part of its efforts to boost internet speeds in coastal regions and support the world’s growing reliance on connected technologies, for both business and leisure purposes.
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
PYMNTS
JUNE 7, 2018
Spending on credit cards will continue to grow, but any issuer that decides to take a breath, instead of crafting creative rewards and going after young consumers, runs the risk of being left behind. That’s according to Chad Peck, vice president of credit product strategy at Fiserv. He recently sat for a discussion with Karen Webster about trends in credit card spending and rewards, for the latest edition of the PYMNTS’ “Walk to the Elevator” podcast series.
PYMNTS
JUNE 7, 2018
U.K. challenger bank Arro Money , which launched its small business bank account service last December, has debuted its newest product designed for sole traders. In an announcement sent to PYMNTS on Wednesday (June 6), Arro Money said it has rolled out its account designed for entrepreneurs that operate independently. According to Arro, sole traders are an underserved demographic in the financial services market, often forced to rely on personal account services with inadequate cash management,
PYMNTS
JUNE 6, 2018
Alternative lending platform BlueVine has announced its latest investment to the tune of $60 million. A press release issued by the company said Menlo Ventures led the Series E equity funding round for BlueVine, which also saw backing from SVB Capital and other investors. BlueVine said it will use the funds to expand its invoice factoring and business line of credit products, as well as to explore new products for small- and medium-sized business (SMB) borrowers.
PYMNTS
JUNE 8, 2018
Since the dawn of the age of computers, human beings have wondered what will happen when the machines eventually learn how to “think” like humans do. The consensus among science fiction writers is “nothing good.” Whether they rise and destroy humanity outright, or insert our consciousness into a giant simulation of the late 1990’s to turn us into biomechanical batteries, depends on the creative imaginations and special effects budget of whoever’s telling the s
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