PYMNTS
JULY 14, 2020
The acceleration of [digital sales] growth can be explained almost entirely by an influx of first-time buyers.”. When consumers fled to online shopping options in Q2, many businesses weren’t set up for digital-first commerce, but quickly figured it out. There’s a cautious optimism now as SMBs, in particular, discover that going digital itself has gotten easier.
Future CFO
JULY 16, 2020
Gartner defines robotic process automation (RPA) is a productivity tool that allows a user to configure one or more scripts (which some vendors refer to as “bots”) to activate specific keystrokes in an automated fashion. The result is that the bots can be used to mimic or emulate selected tasks (transaction steps) within an overall business or IT process.
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BlueLight
JULY 16, 2020
Advice for Startups from your Financial Partner?—?myStartUpCFO I recently spoke with finance leaders from a couple dozen startups. These businesses ranged from seed stage companies where the CEO was the finance leader to growth stage companies with an in-house CFO. In these conversations, I observed each finance leader had a different perspective and approach with their financial accounting partner.
CFA Institute
JULY 14, 2020
How can the investment management industry better embrace diversity?
Speaker: Ashley Harlan, MBA
What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.
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PYMNTS
JULY 14, 2020
“Organizations may have had to engage in relaxation strategies, which could inversely impact their fraud appetite, as they had to let more transactions through without reviewing them. The risk is real.”. Spikes in cybercrime are making headlines daily, and people are getting burned. Preparedness often decides the outcome. “In our experience, clients running machine learning models haven’t had to change thresholds,” said Nuno Sebastião , co-founder and CEO at Feedzai.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 14, 2020
As the United States experiences a coin shortage due to the pandemic, some brick-and-mortar retailers are forcing consumers to tell cashiers to “keep the change.”. Kroger is the largest chain so far to do so, temporarily refusing to give coins out as change. Customers can either round up their bills to the nearest dollar and give the excess to charity or get their change stored on loyalty cards. “The Federal Reserve is experiencing a significant coin shortage that is impacting our store op
PYMNTS
JULY 17, 2020
Transit system operators were already thinking about making at least a partial switch to contactless payments long before a global pandemic disrupted any and every element of how people moved between Point A and Point B. Mary Kay Bowman , Visa ’s head of seller solutions, told Karen Webster in a recent conversation that some operators had contactless payments already partially available in segments of the public transportation system, while others had it earmarked for a project several years in
PYMNTS
JULY 13, 2020
A $20 billion federal initiative to provide emergency funding to small businesses is out of cash. The U.S. Small Business Administration (SBA) announced in a press release the end of the Economic Injury Disaster Loan (EIDL) Advance program. The EIDL was crafted to provide economic relief from $1,000 to $10,000 to businesses and nonprofits that experienced a temporary loss of revenue during the pandemic.
PYMNTS
JULY 13, 2020
Before the pandemic hit, the global freelancing economy was expected to experience significant proliferation. Today, while shutdowns have led many businesses to temporarily halt non-essential spending, many in the market actually expect the expansion of the freelancing community to accelerate as a result of market volatility. One factor behind that thinking is certainly the sudden jolt of job losses, guiding many professionals once reliant on hourly or salaried employment to step into the world
Advertiser: Paycor
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PYMNTS
JULY 13, 2020
In 1946, the then-61 members of the World Health Organization (WHO) saw the need for a consistent yet comprehensive definition of “health.” They felt strongly that any definition had to acknowledge that a person’s good health was more than not being sick or disabled, but instead should reflect “a state of complete physical, mental and social well-being.
PYMNTS
JULY 16, 2020
Admittedly, it might seem like a strange time to be launching an innovative travel insurance product given how much the tourism industry has contracted in the wake of the global pandemic. But CEO Ugo Weyl of travel insurance platform Koala told Karen Webster recently that now is the perfect time to disrupt what is regarded by consumers as a hideously friction-filled experience.
PYMNTS
JULY 14, 2020
American Express has launched a new automated accounts payable solution, American Express One AP, to help businesses digitize B2B payment processing, according to a press release. The service, built with the technology American Express acquired with its purchase of acompay in 2019, will aim to help businesses process supplier payments in a more efficient, modern digital way, working seamlessly with the systems they already have in place, according to the release.
PYMNTS
JULY 15, 2020
There’s an old saying that sunlight is the best disinfectant. Shedding some light on just what the bad guys want — and why and how they are angling to get it — means that the financial services ecosystem can effectively head them off at the pass. Mari Anne Bayliss , senior director of solution management at CyberSource , told Karen Webster that simply relying on machine learning as a weapon against fraud is not enough — not in an age where managing fraud risk during the great digital shift
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
PYMNTS
JULY 15, 2020
Apple Card — the iPhone-based credit product launched last summer by Goldman Sachs , Apple and Mastercard — is expected to be a hot topic on Goldman’s earnings call Wednesday (July 15). A look at recent activity around the card shows a good deal of innovation and a fair amount of concern over rejection rates for both the card and its mobile wallet cousin, Apple Pay.
PYMNTS
JULY 17, 2020
Migrating to the cloud is an imperative part of traditional financial institutions’ (FIs’) ability to compete with digital-native FinTechs. The technology lays the foundation for modern, agile products and services, with enough flexibility to evolve as market conditions and customer demands change. Yet the transformation is a lofty — and certainly intimidating — initiative for banks.
PYMNTS
JULY 17, 2020
“As consumer and business digital adoption has catapulted over the last 12 weeks, when it comes to payments, there are certain status quos we will no longer accept.”. Modernizing payments is work that never ends, but the end game is a world of connected commerce and consumer preference. “For disbursements specifically, the opportunity is also for a more modern solution,” said Drew Edwards , CEO at Ingo Money.
PYMNTS
JULY 13, 2020
“Careem” is an Arabic word meaning, in part, “noble, admirable and praiseworthy.”. In the case of Dubai-based ride-hailing and delivery platform Careem and its efforts to modernize payments in the Middle East North Africa (MENA) region, add “timely” to the list. The platform’s deal with Visa to bring enhanced payments together with financial management tools in-app for consumers and Careem Captains — the gig workers who comprise its indie workforce — is another win, after being acquired by Uber
Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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
JULY 16, 2020
“Sustained business success is dependent on business readiness to adapt to the changes in the market conditions, including the evolving needs of customers.”. Most people are utterly stunned and surprised by sudden disruptions like COVID-19. Others know that pandemics and crises come and go. The most resilient companies are always future-proofing. “If nothing else, this crisis reinforces that the future is and always will be uncertain,” said Amir Wain , founder and CEO of i2c.
PYMNTS
JULY 15, 2020
The pandemic has presented financial challenges for consumers and businesses alike. It has revealed at the same time the value of the subscription model in a whole new light by allowing consumers to get steady supplies of their favorite goods and services direct to their homes without braving store aisles only to find limited inventory. Certain segments of the market have surged, with millions of new subscribers for movie and TV streaming platforms, meal kits and other product boxes.
PYMNTS
JULY 15, 2020
“Just as changing consumer behaviors are accelerating the adoption of digital commerce, they are also creating a greater demand for digital payout methods.”. Money movement has gone further, faster in the past four months than in as many years. That’s progress — and not a moment too soon. “The digital disbursement of funds enables businesses to move money with the same flexibility, convenience and positive experiences created by digital commerce — while enabling contactless interactions and inst
PYMNTS
JULY 17, 2020
In less than a decade, voice-activated artificial intelligence (AI) assistants like Alexa and Siri have gone from something seen in science-fiction films to mainstream consumer touchpoints for larger digital ecosystems. In fact, the latest edition of PYMNTS’ and Visa’s How We Will Pay survey found that more than three in 10 consumers own voice assistants, compared to just 1.4 out of 10 in 2017.
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
JULY 15, 2020
European FinTech Revolut, which recently debuted in the U.S. with an app and debit card, is expanding its range of services into the realm of cryptocurrency trading with a big assist from Paxos. In a Wednesday (July 15) press release, Paxos Trust Co. said Revolut is its first customer for its new product, the Paxos Crypto Brokerage. According to New York-based Paxos, the API-based solution is designed to enable companies to “integrate cryptocurrency buying, selling, holding and sending capabilit
PYMNTS
JULY 16, 2020
One of the unnamed jailed executives in the Wirecard scandal has reportedly admitted guilt to the multi-billion-dollar fraud and money laundering case, according to Reuters. The executive was the CEO of CardSystems Middle East, the largest unit under Wirecard’s command. Nicolas Fruehsorger, a defense lawyer for the executive, said his client “has voluntarily given himself up for the proceedings and — in contrast to others — takes individual responsibility,” according to Reuters.
PYMNTS
JULY 16, 2020
Visa , in response to the rising demand for safer ways to travel, has expanded its partnership with Cubic Transportation Systems to offer contactless payments for public transportation services in over 500 cities, according to a press release. Visa and Cubic have already launched contactless systems in cities around the world, including London, Miami, New York, Sydney and Vancouver.
PYMNTS
JULY 16, 2020
If the U.S. is serious about fixing the cost of healthcare , then it’s time to focus on one of the root causes of its spiraling costs: the roughly 20 percent of U.S. patients who have chronic conditions drive about 85 percent of America’s total annual medical spend. So says Tim Barry , co-founder and CEO of VillageMD , which through its subsidiary, Village Medical, provides value-based primary care services by 2,800 physicians in 9 states including New Hampshire, Texas, Florida and Illinois.
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