PYMNTS
DECEMBER 26, 2019
The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The move is long-awaited and comes after years of work through the Bahamian Payments System Modernization Initiative (PSMI), which began in the early 2000s.
Future CFO
DECEMBER 23, 2019
Security, analytics and customer service tare op CFO concerns as leaders focus as much on strategy as operations, said Protiviti that recently unveiled results of its 2019 Finance Trends Survey. Today CFOs and finance executives are focused as much on strategic matters as operational issues. This is according to the recent 2019 Finance Trends Survey conducted by global consulting firm, Protiviti, which revealed that, when asked to rank focus areas, finance leaders picked data security and privac
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CFA Institute
DECEMBER 22, 2019
"What makes us uncomfortable about disruption is the uncertainty it brings into every number that we measure," says Aswath Damodaran.
PYMNTS
DECEMBER 23, 2019
Policy advisers at a leading think tank said that China should introduce a regulatory framework for artificial intelligence in the finance sector, according to a report from Reuters on Sunday (Dec 22). The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says.
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
DECEMBER 24, 2019
Exceeding forecasts , Dec. 21, the last Saturday shopping day before Christmas 2019, has been confirmed as the single biggest retail sales day in U.S. History. According to retail research firm Customer Growth Partners, consumers on Super Saturday spent a total of $34.4 billion and that exceeded 2019 Black Friday sales by 10 percent. “Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” Craig Jo
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 24, 2019
Past is prologue. For the annual holiday exercise at PYMNTS (describing the 12 main or most exciting ways to pay in 2019), it is clear that what has happened this year will have big implications for the new decade. Here are the 2019 payment trends that made the biggest splash, and promise to make even bigger splashes in the new decade. #1: Voice — And Now, With Emotion.
PYMNTS
DECEMBER 27, 2019
Daniel Pinto, the co-president and chief operating officer of JPMorgan Chase , told CNBC in an interview that 2020 will likely see sturdy economic growth of about 1.5 percent or 1.8 percent in the United States. That, he said, signaled an economy that is strong on consumer spending. He said things were not so solid in the realm of corporate spending as U.S. and China relations deteriorated this year amid a trade war and tariffs.
PYMNTS
DECEMBER 27, 2019
Italy, which has one of the lowest rates of credit card use in Europe, may start to see that change soon as the government will give bonuses to those who use electronic payment services over cash. The government put aside $3 billion to finance the bonuses for the next fiscal year, according to The Financial Times. By offering the incentive, they hope to cut down on black market deals and fraud, they say.
PYMNTS
DECEMBER 23, 2019
The Federal Bureau of Investigation is working firsthand with companies to outsmart cybercriminals by deploying decoy data, Ars Technica reported on Friday (Dec. 20). The FBI program IDLE (Illicit Data Loss Exploitation) has companies plant decoy data as a way to confuse thieves looking to hack valuable information. The fake data is mixed with real information to make it appear authentic.
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
DECEMBER 27, 2019
Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Many governments historically lower or remove taxes on items they wish to make easier to purchase.
PYMNTS
DECEMBER 24, 2019
The People’s Bank of China said that China’s cryptocurrency, the digital yuan, will not need a currency basket to keep its value, according to a Monday (Dec. 23) report by Coindesk. Changchun Mu, head of the PBOC digital currency research subsidiary, shared the news at the China Finance Association Academic Annual Meeting, and China Finance Forum Annual Meeting in Beijing. .
PYMNTS
DECEMBER 23, 2019
Payments company PayPal recently acquired Chinese payment platform GoPay, and it wants to continue to complete such deals, according to a report by The Wall Street Journal. The company wants to pursue acquisitions throughout 2020. “There’s a lot of opportunities to acquire companies inorganically,” Chief Financial Officer John Rainey said. The GoPay deal, which was the acquisition of a 70 percent stake in the company, was completed Dec. 19.
PYMNTS
DECEMBER 26, 2019
Some of the largest U.S. banks, like JPMorgan Chase , Bank of America (BoA) and Citigroup , gained as consumers spent during a robust holiday season, according to a report by Bloomberg. BoA gained 1 percent to its highest point since October 2008, and Cit saw a gain of 1.5 percent, which is the biggest jump since January 2018. Wells Fargo and Truist Financial Corp. also gained.
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
DECEMBER 26, 2019
In an historic day, fueled by gains in tech shares, the Nasdaq Composite Index moved past 9,000 for the first time, Bloomberg reported. The new Nasdaq record is attributed to key performers, including Amazon , as the online commerce juggernaut reported their 2019 holiday sales broke previous records. European markets were still closed for Christmas.
PYMNTS
DECEMBER 27, 2019
Up until recently, business travel and hospitality would take a few general forms. Perhaps a fancy hotel downtown. Or less fancy digs near the airport. Or maybe a relatively bland extended-stay operation right off the interstate. But digital technology and the sharing economy, already the disrupters of so much, are now challenging the status quo when it comes to corporate housing.
PYMNTS
DECEMBER 27, 2019
Ignition of a new technology or idea in payments and commerce is always something of a tricky balancing act because consumers need a really good reason to change their well-entrenched habits. When they get that good reason, it doesn’t always take that long for that switch to make that which was once status quo into history. But, novelty alone, as we’ve seen over and over and over again in the 2010s, won’t move the needle for enough consumers to matter.
PYMNTS
DECEMBER 24, 2019
All that’s left now, more or less, is the rush of returns that will all but overwhelm some retailers. Christmas Eve is upon us, and the last gifts are making their way from basements, attics and bedroom closets to stockings and trees. So, what kinds of products will people be getting this year? To get a better sense of what’s coming (and to have some holiday fun), PYMNTS recently caught up with Akash Garg, CTO of Afterpay — a company that offers flexible payment terms, and essentially serves a d
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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
DECEMBER 24, 2019
To separate hype from hope, and to separate both from reality…. To quote a line from the Watergate scandal movie, “All the President’s Men:” Follow the money. And for blockchain, a few warning signs have been flashing that all may not be as rosy as some observers may have hoped, had wanted. And so, for a jumping-off point to examine whether the peak has been seen: Follow the money.
PYMNTS
DECEMBER 26, 2019
There’s an old saying, ascribed variously to the old proverbs, baseball great Yogi Berra and physicist Niels Bohr: Predictions are difficult, especially when they’re about the future. Regardless of the source, the sentiment rings true. The farther one looks out over the horizon, the hazier the picture becomes. That’s especially true in payments, where technology can lead to seismic shifts in the way we pay, where we pay and even when we pay, as commerce becomes ever global and a 24/7 activity.
PYMNTS
DECEMBER 24, 2019
In its ongoing attempts to fix its privacy standards, Facebook will no longer use phone numbers to determine who one sees on their “people you may know” list, according to Reuters. The move is an attempt by the company — which has been dogged by privacy scandals for years now — to correct misuses of peoples’ data. When it was revealed last year that Facebook was using peoples’ personal phone numbers for two-factor authentication for advertising, privacy advocates were outraged, sayin
PYMNTS
DECEMBER 23, 2019
A 22-year-old Turkish man from London was convicted of attempting to blackmail Apple out of $75,000 in cryptocurrency or a thousand $100 iTunes gift cards by falsely claiming he had access to iCloud and other Apple accounts, various outlets reported on Monday (Dec. 23). The National Cyber Crime Unit of the U.K.’s National Crime Agency (NCA) arrested Kerem Albayrak at his London home on March 28, 2017.
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
DECEMBER 23, 2019
Mastercard is purchasing artificial intelligence (AI) and analytics startup RiskRecon to accelerate the development of cybersecurity solutions, Mastercard announced on Tuesday (Dec. 23). Cyberattacks have become a critical issue for companies of all sizes and a threat to privacy and data security. Data breaches and ransomware attacks jeopardize customers’ records and trust.
PYMNTS
DECEMBER 22, 2019
Uber was ordered last Friday by a Colombian judge to stop securing business in their country via its popular ride-hailing app, according to a report from Reuters. The country’s Superintendency of Industry and Commerce (SIC) said Uber, with 2.3 active users and roughly 88,000 driver partners in Columbia, violated market rules. The decision follows a lawsuit filed against the company by COTECH SA.
PYMNTS
DECEMBER 27, 2019
Daniel Pinto, the co-president and chief operating officer of JPMorgan Chase , told CNBC in an interview that 2020 will likely see sturdy economic growth of about 1.5 percent or 1.8 percent in the United States. That, he said, signaled an economy that is strong on consumer spending. He said things were not so solid in the realm of corporate spending as U.S. and China relations deteriorated this year amid a trade war and tariffs.
PYMNTS
DECEMBER 27, 2019
Danske Bank is facing another lawsuit from about 60 investors over alleged money laundering, according to a report by Reuters. . It’s the third lawsuit by investors against the bank, and the plaintiffs are seeking 1.5 billion crowns ($224 million). The other two lawsuits involve 232 pension funds, and separate investors are seeking claims of almost $800 million.
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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