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Sound travels at 767 miles per hour, so if you want a faster contactless payment, audio waves aren’t a bad vehicle for it. But harnessing audio waves for payments purposes is easier said than done, because it’s not like developing an app. It represents the development of a whole new technology, and reliability and security are just as important as speed — otherwise, this alternative payment method would be no better than the electronic payment methods that came before it.
Banks and FinTech companies have a complicated history. To put it mildly, the two sides have not always worked harmoniously together. Why the tension? Both types of institutions contend for the same business in the competitive financial services world. While traditional banks offer a more established and tested set of products, the offerings of newer FinTech companies — such as real-time data, streamlined payments and quick notifications — are helping these new players encroach on banks’ t
The rivalry between banks and FinTechs has, at times, been tense if not downright combative. Enter APIs to help the two sides coexist more peacefully. API solutions are doing more than helping two different types of financial institutions find ways to collaborate. By integrating artificial intelligence and machine learning capabilities, companies are relying on API solutions to fight cybersecurity threats and help businesses determine the trustworthiness of a potential trading partner before ent
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.
Vantiv Integrated Payments — a Vantiv company and provider of payments technology and processing services for small and medium-sized businesses (SMBs) — announced news on Monday (August 7) that triPOS Cloud, a cloud-based API for easier and faster real-time payment processing, is now live. The company said the API is available for all independent software vendors (ISVs) and merchants to process point-of-sale (POS) transactions.
Apple has been engaging in anti-competitive behavior in China, its largest mobile applications market, according to a lawsuit filed with regulators in that country. The antitrust suit, which comes on behalf of more than two dozen developers, was filed Tuesday by Dare and Sure, a law firm based in China. The lawsuit states that the tech juggernaut is mistreating Chinese developers through its stronghold via the iOS App Store.
It’s been a little over a year since our Digital Banking Tracker heralded the “ Dawn of Banking Voice Technology.” Now it’s more like the high noon of banking voice technology, with most major banks hosting their own incarnation — all with slightly different capabilities and adoption rates. Santander U.K. started the trend by launching a voice assistant within SmartBank, its mobile banking app for students, before rolling it out to the general public.
It’s been a little over a year since our Digital Banking Tracker heralded the “ Dawn of Banking Voice Technology.” Now it’s more like the high noon of banking voice technology, with most major banks hosting their own incarnation — all with slightly different capabilities and adoption rates. Santander U.K. started the trend by launching a voice assistant within SmartBank, its mobile banking app for students, before rolling it out to the general public.
Amazon is exploring a cutting-edge food technology for home delivery, as the online retailers continues to find new ways to get into the $700 billion U.S. grocery business. According to Reuters , Amazon is looking into selling ready-to-eat dishes as soon as next year. The dishes would not require refrigeration and could be offered cheaply compared with take-out from a restaurant.
Slow and steady doesn’t win the financial services race. If you’re not ahead, you’re behind, especially if you’re playing on the global stage. From user interface technology to security and risk management, the only constant in the financial space is that nothing stays the same for long. Those who wait until they must either invest or fold will find themselves outpaced, and catch-up is not a game that any organization wants to find itself playing.
When it comes to earnings, a bit of accounting can make all the difference. The way Wall Street looks at earnings, and the way the average person might count earnings, though, are two different things. Let’s take the second scenario — what an individual might consider when examining the bottom line: money comes in, expenses are paid and what is left over is what is earned.
Retailing giant Walmart is expanding the use of its Scan & Go mobile app, which is already being tested in around 12 stores in Arkansas, Florida, Texas and Georgia, to include ten more brick-and-mortar locations. According to a news report , some of the new locations for the technology that lets customers scan and pay during in-store shopping without the need for a cashier will be in Dallas-Fort Worth and Nashville markets.
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.
The more business is done online, the more fraud makes inroads. The more individuals leave a trail of information across websites, the more tempting the targets are for hackers to make off with everything from Social Security numbers to health care information. That old password you have? The one referencing your favorite Journey song? Your security question with your dog’s name?
Bitcoin, the leading cryptocurrency, jumped more than 16 percent on Saturday (August 6) to an all-time high of $3,360.87 before hovering around $3,303, propelling market capitalization to more than $54 billion. According to a news report in CNBC , the virtual currency has more than tripled in value since the start of the year and is up 15 percent in the early days of August.
Amazon’s Alexa is overqualified for ordering a pizza or a Lyft, so a few pioneering cities are putting her to work on more complex and publicly beneficial tasks. Los Angeles was, perhaps unsurprisingly, the first U.S. city to build its own Alexa skill. But a little more surprisingly, the second city to do so lies 1,000 miles away from Silicon Valley, in a Dallas suburb called University Park.
Traydstream, one of the trade finance industry’s newest entrants, has already struck partnerships only a month after launching. The company announced news on Friday (Aug. 4) that it is partnering with Fujitsu subsidiary PFU and Lloyd’s List Intelligence. PFU will provide its scanning technology to Traydstream to integrate scanning services into its offering.
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.
After introducing itself to the market earlier this year, U.K. FinTech startup Populous has officially launched. News reports on Wednesday (Aug. 9) said Populous has raised more than $10 million and is now piloting its platform, which uses blockchain technology for invoice financing. “We’ve been getting a lot of interest from other invoice factoring firms and financial firms that are not on the blockchain wanting to join the project, including banks as well,” said Populous CEO Stephen Williams i
People don’t write a check to pay for their dinner, movie tickets or groceries, so why are they still writing them for charitable giving? PYMNTS CEO Karen Webster has volunteered at a few charity fundraisers in her day, and the call to action at the end of the night is still, in 2017, to reach for the checkbook and write out the donation amount on paper.
Ding, ding, ding! And the winner of the newest frontier of financial fraud is cryptocurrency. Since the beginning of this year, businesses have raised $1 billion in initial coin offerings (ICO), and Goldman Sachs is seeing 800 altcoins circulating around the internet. As cryptocurrency increases in popularity, it has attracted dangerous minds. With many looking to find holes in the often proclaimed “most impenetrable” financial system, it was just a matter of time before a hacker or
Luxury isn’t what it used to be. Sure, there are high-end quality items and experiences, but consumer behavior in this space has seen a shift over the past few years. Following the 2008 recession, most consumers expectedly shied away from making purchases on ultra fancy or expensive items in favor of keeping their financial heads above water. Yet the story for luxury purchases has shifted in the last few years, which is showing a more positive outlook.
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
American International Group (AIG), the insurance company based in the U.S., predicted the number of cyber insurance policies will skyrocket from Chinese companies and in other parts of Asia due to the WannaCry ransomware attack that wrecked havoc on companies around the globe a few months ago. According to a news report in Reuters, citing American International Group, the insurer said it had an 87 percent increase in inquiries for cyber insurance policies in May compared to the month earlier in
Fat Brands – as it is pushing toward a unique IPO of its own – is offering consumers with $500 to burn an interesting opportunity: the chance to purchase their own piece of Fatburger. Fatbrands – which owns Buffalo Wild Wings officially plans to sell shares in the firm to the public next month on a quest to earn $20 million so it it can better expand its business and pay down some of its corporate debt.
Pittsburgh has contributed a plethora of everyday items and services that many may take for granted. The city’s contributions to the country in addition to being the base of America’s steel industry, the city was also the birthplace of the beloved Mr. Rogers, McDonald’s Big Mac and the very first drive-in gas station. It’s also the birthplace of legendary American artist Andy Warhol.
Bank of America is reportedly launching a pilot of Samsung Electronics technology that will enable customers to access the mobile banking app via a photo of their eye. According to a news report in The American Banker , the trial is part of a bigger push by Bank of America to see how customers react to using different biometric authentications. “One thing we know we need to work on with our customers is, even in today’s day and age of digital natives, there are questions about safety and securit
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Fizzle of The Week: Passwords. Passwords are one of the necessary evils of the modern digital commerce age. A prolific necessary evil, perhaps. By some estimates, if the current pace is continued, the average consumer will have something like 200 passwords to remember. But, even if it seems staggeringly difficult — bordering on entirely impossible — to keep 200 separate strings of random letters and numbers straight in one’s head, the payoff is worth it.
Many innovators end up in the business of commerce or technology because they are trying to solve a problem — usually their own. This is often a good or service they find they need, and that the market doesn’t offer, which sets off a light bulb and begins the cycle of innovation. Gerry Kelly didn’t have a problem so much as he had an interesting pair of pants.
The Great Recession had a crippling effect on credit markets across the board. Consumers, enterprise-sized businesses and small businesses (SMBs) all found themselves caught in the squeeze of a wide-ranging credit crunch. Ten years out, consumers and big businesses experience the credit crunch as a memory, but for SMBs, particularly startups, the credit crunch is a reality.
Venmo recently launched a new QR code feature to more easily locate friends within its mobile payments app. According to a news report in TechCrunch , the new feature is aimed at easing the person-to-person (P2P) payments process, making it easier for users to add connections to the list of people they pay — or who pay them. The feature is located under a new menu option dubbed Scan Code and now works for both the iOS and Android versions of the mobile payment app.
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.
UnionPay is facing an increasingly competitive and complicated world these days. Some question whether the card-payment network operator will be able to overcome the struggle to “remain relevant” in a market that is quickly changing — and where consumers may soon be leaving card-based payments behind entirely. That “struggle” may not be entirely evident at first glance.
Eleven FI members of the R3 platform consortium have announced the next step in using the distributed ledger technology for trade finance. The banks announced news on Monday (Aug. 7) that they have developed a prototype application on R3’s blockchain platform, Corda, that aims to digitize and streamline letters of credit for trade finance transactions.
This week in retail, we’ve seen a myriad of movement from nearly all sides. We’ve seen earnings surge , earnings dive down , launches and a significant change in the way grocery stores are operating. In the earnings arena, Under Armour and Blue Apron sales are taking a dive down, which is resulting in both companies looking to trim the fat to help revitalize business.
Distributed ledger technology (blockchain) has made significant headway this year, and people are starting to take notice. At the beginning of 2017, the cryptocurrency bitcoin was valued at just under $1,000 and soared up to over $3,000 in May. While it took a dive over the summer, bitcoin now comfortably sits at just over $3,000. Cryptocurrencies have seen major growth in popularity, and alongside the increasing speed of eCommerce transactions, so does the demand for widespread use.
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.
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