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Delta Airlines Inc. has filed a lawsuit against a firm that powered a chatbot on its website. The lawsuit alleges that [24]7.ai Inc. did not have basic cybersecurity safeguards while it ran a service powered by artificial intelligence (AI) on the carrier’s website last year and in 2017, The Wall Street Journal reported. The suit claims that [24]7 waited over five months to tell the airline about the breach instead of immediately informing it.
Finance professionals generally tend to be risk averse. Transforming your FP&A plan will not be an easy task, but it must be addressed as it is a top priority for the CFO to better support delivering on the expectations from the CEO. In today’s world where technology changes are rampant and society’s expectations of new ideas and stimulation is at a rate not seen before.
Cash is the most important asset in any business. It’s the lifeblood. It’s what keeps the lights on, and fuels the future growth of the company. If you run out of cash, it’s game over. Why Cash Is So Important. Cash keeps the business running. Cash is used for things like: Paying expenses – the things that are necessary for the successful daily operation of the business like employee salaries, sales and marketing expenses, supplies, and inventory.
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 “online version of a payments terminal” was how the media portrayed Visa ’s acquisition of CyberSource in 2010. Then, it was a very easy way to mentally place the online payments processor in what was at the time a nascent online payments ecosystem. And very nascent it was. At the turn of the 2010s, online commerce was roughly a tiny 4 percent of all retail sales, but growing at nearly a 15 percent annual clip.
Cross-border payments are expected to surge over the next few years as the economy becomes increasingly global and interconnected. These transactions reached $144 billion in value in 2014 and could hit $240 billion by 2024. The latest Smarter Payments Tracker looks at the infrastructure developments that are making cross-border payment systems faster, more seamless and interoperable.
Citigroup reported that its July credit-card delinquency rate increased to 2.91 percent in July, up from 2.56 percent in June. The lender’s three-month average is 1.54 percent, with a net charge-off rate of 2.91 percent, an increase from 2.56 percent in June, reported Seeking Alpha. The three-month average is 2.74 percent. According to the SEC paperwork, the total delinquency amount in July stood at $36,401,205,805.
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Paige A. Thompson , who has been accused of hacking into Capital One ’s cloud and compromising the data of 100 million people, may have also hacked into upwards of 30 other companies, according to a Bloomberg report. Thompson was arrested in July and has a past that includes threatening the lives of others and saying she would commit “suicide by cop,” according to information filed in court on Tuesday (Aug. 13).
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.
“No person is an island,” so goes the line from an old poem, meant to show how we are all interconnected. That line may lean toward the metaphysical, but the wisdom is pretty literal when it comes to the future of banking, playing out in these last months of the 2010s. Simply put, that means consumers’ retail experiences tend to inform their expectations for financial services, said Jim Johnson, executive vice president of FI payments and wealth for FIS , in a new PYMNTS interview with Karen Web
FinTech firms will travel the world and describe what they are up to using brand-new terms that are different or exciting. People might draw comparisons in response — wait a second, isn’t this kind of like? — and use some more familiar terms that have been in the marketplace for a long time. FinTechs have created some repeated descriptions that might be useful to a broader audience.
The continuing uncertainty over Brexit and geopolitical volatility in the U.K. that has led to a depreciation of the pound are having widespread impacts throughout supply chains with touchpoints in the markets. Reports Monday (Aug. 12) in Catering Insight showcased some of the foreign exchange hurdles businesses face as a result of that uncertainty.
As PayPal reaches saturation points in Western markets, it wants to continue to expand internationally, especially in India, where the country’s 450 million mobile users make it an attractive target for retailers. The Financial Times is reporting that PayPal launched a domestic business in India in 2017, which allows for local and global payments in the country.
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.
In June, Costco launched a revamped digital membership app that allows members to use its mobile device rather than flashing a physical card upon entry and during checkout. Convenient? Yes. However, it can’t be used for in-app payments. This can’t be interpreted as an oversight, considering a new PYMNTS report about “ everyday apps ” found that mobile users rarely make in-app payments.
Cyber insurance claims are spiking as a new type of ransomware targets companies across the U.S. and Europe, the The Financial Times reported on Sunday (Aug. 11). Sodinokibi is on the attack, making higher ransom demands, hijacking companies’ systems and demanding bitcoin payment in exchange for a decryption key. Cyber insurance security responder Tom Bennett of CFC Underwriting told the FT that claims surged in June and July.
Wells Fargo announced it has hired Colleen Taylor to run its Wells Fargo Merchant Services, which shepherds the direction and oversight of its merchant services business as well as a joint initiative with Fiserv, according to a release by the company. Taylor has 30 years of experience in the payments field. Her most recent position was as an executive vice president at Mastercard , where she helped to drive growth for the company in the areas of B2B, government and payment segments.
With more than $200 million in venture capital funding landing with B2B FinTechs this week, investors had their eyes set on a variety of pain points in corporate finance. Small business finserv was a popular target this week, with startups securing funding for their SMB banking, lending and accounting tools. Meanwhile, logistics, data analytics, and business travel technologies also won over investors.
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.
Most people make big purchases not so much with the total cost of ownership in mind, but how much it costs them on a monthly basis. In fact, SuperMoney founder and CEO Miron Lulic told Karen Webster, it’s how 80 percent of Americans secure a car loan. Consumers are willing to negotiate the price of car down to the last cent, but the vast majority will not negotiate the charges, interest or fees packaged into their auto loan at all — provided that they get the monthly payment down to where they
The Financial Conduct Authority said Tuesday (Aug. 13) that it has agreed to a phased implementation of the Strong Customer Authentication (SCA) rules slated to start taking effect beginning next month. The implementation will span an 18-month plan, and “The plan reflects the recent opinion of the European Banking Authority (EBA), which set out that more time was needed to implement SCA given the complexity of the requirements, a lack of preparedness and the potential for a significant impact on
Carvana , the eCommerce platform for buying and selling used cars, opened its latest Car Vending Machine in the Westminster area of Los Angeles, the company announced today (Aug. 15) in a press release. . Eight stories high, the vending machine holds 30 vehicles where customers can pick up their purchase with the help of a Customer Advocate. The vending machine is activated by a commemorative, oversized Carvana coin.
For fans of retail or marketing history — or just fans of how people communicated in the past — reading old magazine and newspaper advertisement from, say, before the 1960s can be fun and illuminating. Sure, there are a lot of pretty pictures, but what strikes you is the relative verbosity of the ad copy, the sentences and narratives that seem long by today’s standards, and the way the words often seem to carry a heavier pitch load than do the images.
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.
The cross-border payment market is thriving, and trends are expected to continue over the next few years. In fact, cross-border payments are expected to reach $240 billion in value by 2024. For these transactions to run smoothly, however, communication must remain seamless and secure. Companies separated across borders want payments to be delivered on time so they can meet their payment deadlines, access capital and deliver products in a timely fashion.
The People’s Bank of China (PBoC) said it is now ready to launch its own blockchain-based digital currency after five years of research, CoinTelegraph reported on Sunday (Aug. 11). Deputy Director Mu Changchun said that PBoC’s digital currency “can now be said to be ready,” he told the news outlet, and a prototype was successfully developed that uses the blockchain architecture.
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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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