PYMNTS
NOVEMBER 24, 2017
With the holiday shopping season in full swing, retailers are facing a new challenge: extra shipping fees during the busiest weeks. The Wall Street Journal reports that United Parcel Service (UPS) is adding on a surcharge to packages shipped to homes around Black Friday and the week before Christmas in a move to compel retailers to send their orders outside those peak periods.
PYMNTS
NOVEMBER 8, 2017
When it comes to business, it’s no secret the competition is fierce. But in an increasingly interconnected world, even competing companies need to collaborate. Rival banks and financial institutions (FIs) need to work together to serve customers and transfer money between banks. Car dealers need parts from competing suppliers and manufacturers to keep repair shops and vehicles running without a hitch.
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PYMNTS
NOVEMBER 14, 2017
The U.S.’s first new payment and clearing system in more than 40 years is up and running. At 4:59:40 p.m. on Monday, $3.50 was moved between accounts at two different banks (there was only one customer with two bank accounts) via RTP, the name for a new “Real-Time Payments” system set up by The Clearing House. All in all, the transfer took three seconds — as opposed to the hours or days more typically associated with an ACH transfer.
PYMNTS
NOVEMBER 3, 2017
It was a busy time for B2B venture capital this week, and while funding ranged across verticals from expense management to SaaS, there was a clear theme in investment rounds: high-tech data analytics. Startups deploying machine learning and artificial intelligence (AI) capabilities are focused on improving corporate processes — from identifying fraud to testing software to managing employee effectiveness.
PYMNTS
NOVEMBER 22, 2017
Artificial intelligence (AI) doesn’t walk and talk like C3P0 of “Star Wars” (many would say: “Thank God”). It doesn’t mask murderous intentions with a calming voice like HAL of “2001: A Space Odyssey.” It’s not the manically depressed, paranoid android Marvin of “Hitchhiker’s Guide to the Galaxy.” It’s not a beautiful but cunning killer like Ava of “Ex Machina.”.
PYMNTS
NOVEMBER 22, 2017
There will certainly be many sales to choose from once the Thanksgiving dinner dishes have all been cleared and the Black Friday festivities begin at retail locations nationwide. But this year, there is something slightly different in the mix. We are about to have a very connected Christmas. Or, more appropriately, a very connected New Year – on the assumption that most people will be shopping for gifts that won’t get their first official test drives until the last week of 2017.
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PYMNTS
NOVEMBER 17, 2017
American Express is the latest financial company to become a member of RippleNet, the blockchain network operated by Ripple that provides real-time, business-to-business (B2B) global payments. On its website , Ripple said American Express joins Credit Agricole, Airwallex and Cuallix, among others. According to Ripple, American Express FX International Payments will partner with Santander U.K. to create a transaction channel between the U.S. and U.K. for the first time.
PYMNTS
NOVEMBER 21, 2017
With Europe only weeks away from PSD2 taking effect, Fiorano Software is debuting its solution for financial institutions (FIs) in the region to comply with the directive. The company revealed its new solution on Monday (Nov. 20), Fiorano PSD2, a platform for FIs across the EU to ensure compliance with PSD2, built on the company’s existing API Management capabilities and banking integration management tools.
PYMNTS
NOVEMBER 25, 2017
Peak toy season is upon us. Over the next six weeks, 40 to 60 percent of American consumers will purchase at least one toy during the holiday season. As a rule, toys are a bit like potato chips – it’s hard to stop once you’ve started. Some of those toys will be for children and some will be for the adults themselves (admit it, you’re thinking about getting a new lightsaber), but on average Americans buy between $25 and $30 billion in toys per year, according to The Toy Association.
PYMNTS
NOVEMBER 14, 2017
A new report by business banking market research and analysis firm East & Partners suggests corporations aren’t opposed to changing banks as a direct result of new FinTech solutions businesses want to use. Researchers announced East & Partners’ new report, “Financial Technology and the Corporate,” on Monday (Nov. 13). In a survey of corporate treasurers and CFOs at top corporations around the globe, 13 percent said they had already partially or totally switched their financia
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
PYMNTS
NOVEMBER 29, 2017
Fraudsters launching forays against financial institutions (FIs) is a tale as old as, well, financial institutions. For the honest banker, there’s a constant need to upgrade defenses and proactively fend off attacks. But not everybody has the resources for a complete cybersecurity makeover — or the $100,000 to sweep a successful hack under the rug. Such resource and budget constraints may be the reason why, even as artificial intelligence (AI) and machine learning are enjoying high adoption rate
PYMNTS
NOVEMBER 24, 2017
Good news for small- and medium-sized businesses (SMBs): Spending growth at mom and pop shops has outpaced that of the big chains in both of the past two years. According to Bloomberg reports on Wednesday (Nov. 22), purchasing patterns research from Sarah Quinlan, senior vice president at payment processing giant Mastercard Inc., found that when Americans aren’t shopping online, they’re looking for more personal connections and the advice they can receive from local SMBs.
PYMNTS
NOVEMBER 30, 2017
When the limit on contactless payments in the U.K. was raised in 2016 from £20 to £30, the overall volume of contactless payments tripled. While, for many industry spectators, the growth in volume of contactless payments equated to a correlating drop in cash use, the actual numbers reveal that despite a growth in competition from alternate payment forms, cash is continuing to hold its ground.
PYMNTS
NOVEMBER 14, 2017
With Europe just weeks away from PSD2 coming into effect, banks across the region are gearing up to get on-board with one of the regulation’s main objectives: to promote open banking and stir up competition and innovation in the financial services market. FIs around the globe may be flocking to APIs and embracing the open banking concept today, but just a few months ago – says Marten Nelson, co-founder and VP of marketing for Token, Inc. – the banks weren’t having it. “If you h
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
PYMNTS
NOVEMBER 20, 2017
Walmart is jumping onto Tesla’s electric tractor trailer truck bandwagon early with an announcement that it plans to test run the recently previewed, soon-to-be-released vehicles. Five of the pre-ordered vehicles will service Walmart U.S.; 10 will service Walmart in Canada. “We have a long history of testing new technology — including alternative fuel trucks — and we are excited to be among the first to pilot this new heavy-duty electric vehicle,” the company said in a statement to CNBC.
PYMNTS
NOVEMBER 2, 2017
Google announced that it will be shutting off developer access to its QPX Express API service, which automates data for airfare search engines. According to a news report from The Verge , the move could affect third-party travel sites, such as Orbitz and Expedia. It’s also a sign that Google is becoming increasingly interested in competing with the big names in travel services.
PYMNTS
NOVEMBER 15, 2017
Wells Fargo Advisors and the Securities and Exchange Commission (SEC) reached a settlement this week resolving charges that the bank dropped the ball in reporting suspect activities pertaining to money laundering for several years. According to a MarketWatch report published Tuesday (Nov. 14), though broker-dealers are required to file suspicious activity reports (SARs) to the U.S.
PYMNTS
NOVEMBER 15, 2017
Fashion retailer Forever 21 revealed that it has suffered a data breach at some of its stores. According to news from Fortune , customer payment card information was compromised at certain point of sale devices in stores when the encryption on those devices was not operating. The company, which operates more than 815 stores in 57 countries, did not say which specific locations were affected.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
PYMNTS
NOVEMBER 10, 2017
If only shopping weren’t so … shoppy. Sure, eCommerce takes away a lot of the hassle, but sometimes you need that last-minute pair of sunglasses or gloves, and ordering them online just isn’t an option. At least, not until Amazon invests in some beam-me-up magic. Say you just got off an airplane, and the weather is much colder than you expected. You’re traveling, and didn’t pack anything warmer.
PYMNTS
NOVEMBER 1, 2017
Two years ago, when Samsung Pay entered the mobile payments scene, it did what Apple and Android a year before it had not: It made mobile payment capabilities at the physical point of sale (POS) more or less ubiquitous right out of the gate. This new digital way to pay was made possible via technology that Samsung acquired, called “magnetic secure transmission” — MST — the very same technology that enables merchant point-of-sale terminals to accept a mag stripe card for payment.
PYMNTS
NOVEMBER 28, 2017
India’s Axis Bank has launched its instant, cross-border payments solution less than a year after announcing a collaboration with blockchain technology firm Ripple. The bank announced news on Monday (Nov. 27) that its global payments service, which uses Ripple’s blockchain infrastructure, is now up and running. Retail customers can receive payments from the UAE’s RAKBANK using the platform, while corporate clients in India can receive payments from Singapore’s Standard Chartered Bank in real-tim
PYMNTS
NOVEMBER 1, 2017
Is omnichannel enough? The classic definition, of course, is approaching sales from multiple angles: in-store, desktop, mobile devices, etc. But is it enough? After all, the omnichannel undertaking is usually one that involves a company branching out beyond what might be its traditional engagement with consumers. Consider the brick-and-mortar firm that looks to gain attention from online offerings, or Amazon’s own forays into bookstores and physical outlets.
Speaker: Frank Taliano
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
PYMNTS
NOVEMBER 28, 2017
When customers are feeling hungry — maybe even a little hangry — the fewer obstacles between them and food, the better. Waiting in line? Talking to a human cashier? Too much hassle. Just get them those calories, stat. Alright, so maybe it’s not always quite so dramatic, but it’s certainly true that customers seem more and more willing to forego human interaction in fast food and fast casual dining environments.
PYMNTS
NOVEMBER 22, 2017
Intuit announced its Q1 FY2018 earnings this week, posting better-than-expected results for the firm and highlighting growth fueled by QuickBooks. “We are off to a strong start growing first-quarter revenue 14 percent and exceeding our overall financial targets,” Intuit chairman and chief executive officer Brad Smith said in a statement.
PYMNTS
NOVEMBER 29, 2017
[link]. Every group of friends has a social director, Fevo CEO Ari Daie told Karen Webster in this week’s Matchmakers conversation – that one person who organizes the cats and gets a group of otherwise passive adults organized for a game, concert or weekend trip. This person’s life, Daie noted, is full of friction. They have to organize the group, figure out when everyone is free, what they want to pay for tickets and then how to purchase that block of tickets for the group.
PYMNTS
NOVEMBER 2, 2017
Singapore residents will soon be able to make purchases with a prepaid Visa card backed by the cryptocurrency platform Monaco. “Our team has worked incredibly hard over the past year to achieve this milestone. This is an important step towards Monaco’s vision to introduce cryptocurrency to the mass market,” said Kris Marszalek, co-founder and CEO of Monaco, in a press release. “We believe that the Monaco card program lays solid foundation for Monaco’s growth, and we
Speaker: Claire Grosjean, Global Finance & Operations Executive
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.
PYMNTS
NOVEMBER 24, 2017
Just in time for the holiday season, Google is expanding its mobile shopping experience, including showing buying guides for broad categories and adding more information for specific product searches. “When you search for a specific product, Google.com now shows you other helpful information, like related items, and allows you to compare reviews, prices and other specs, side by side,” wrote Google product management director for Google Shopping, Jennifer Liu, on Google’s The Keyword blog.
PYMNTS
NOVEMBER 24, 2017
The winners on Black Friday may be the big players in low-cost retail. Think Walmart, of course – and others, too. Wall Street research from Jefferies, noted in CNBC.com, said that a slight sliver of consumers will spend more on Black Friday than they did last year, which compares to the 17 percent who said the same last year. The upshot is that spending may not be concentrated in a single day’s spree.
PYMNTS
NOVEMBER 1, 2017
After years of doubt, financial professionals are trusting the cloud. Research released last month by Adaptive Insights found 73 percent of surveyed CFOs trust the cloud to host their financial data today. That trust has permeated the financial services industry, too, as banks begin to migrate data and apps to the cloud and FinTechs launch entirely on cloud infrastructure.
PYMNTS
NOVEMBER 23, 2017
When the pilgrims landed in Cape Cod, Massachusetts, in 1620, there was no voice of Siri to say, “Arrived.” The only parade that November was one of tired, hungry pioneers disembarking a ship. They weren’t dodging cars in the grocery store parking lot, but arrows shot by unfriendly natives and disease that ripped through the settlement as the weather grew cold and harsh.
Advertiser: Paycor
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