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Since Sept. 7, the media has been abuzz over the security breach at credit scoring company Equifax and the vast number of consequences the incident set in motion, from the resignation of the company’s CEO to lawsuits filed by state Attorneys General across the U.S. While Equifax is clearly learning from (and paying dearly for) its mistakes, it would have been nice to see some others take the lesson to heart before they became the next victim.
In an economy dominated by a progressive professional services workforce, it’s no surprise that the physical environments of today’s businesses are dynamic and fluid. And they have to be, because workplace culture has a direct impact on profitability.
The Electronic Payments Association and the Payments Innovation Alliance announced Wednesday (Oct. 5) that it released a Meeting Summary Report and Overview Document from the latest meeting of the API Standardization Industry Group. In a press release , the groups said the API Standardization Industry Group, which was formed in spring of 2017, is aiming to standardize the use of APIs in the U.S. financial services industry.
Cryptocurrencies may have naysayers on Wall Street, but Goldman Sachs isn’t one of them, according to news from The Wall Street Journal. Citing people familiar with the matter, the Wall Street Journal reported that Goldman Sachs is mulling whether to launch a new trading business that is focused on bitcoin and other cryptocurrencies. If the firm moves ahead with these plans, it will be the first high-profile Wall Street company to deal directly in the bitcoin trading market.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
On Thursday (Oct. 5), Alenka Grealish, senior analyst at Celent, penned an article for American Banker with a prediction: The small business (SMB) credit space is headed for a “shake-up.” The small business loan market is oversaturated, she argued, creating a “FinTech credit bubble” that first showed signs of deflating as investors pulled out of some players like CAN Capital and LendingClub in 2016.
Fides Treasury Services is integrating corporate payments capabilities into its offering. The company announced Thursday (Oct. 5) that it is launching EFT Web, a platform for corporate treasurers to execute and manage payments. The solution supports payment files of any format, Fides said, and supports automation while providing added security for these transactions.
Rumors are swirling that Apple is currently testing Apple Pay Cash internally using iOS 11.1 and an accompanying device certificate. According to news from 9to5Mac , 11.1 was released in beta to developers last week, but not everyone received Apple Pay Cash. The new service was announced at Apple’s Worldwide Developers Conference over the summer, but the feature wasn’t included when iOS 11 launched to the public last month.
Rumors are swirling that Apple is currently testing Apple Pay Cash internally using iOS 11.1 and an accompanying device certificate. According to news from 9to5Mac , 11.1 was released in beta to developers last week, but not everyone received Apple Pay Cash. The new service was announced at Apple’s Worldwide Developers Conference over the summer, but the feature wasn’t included when iOS 11 launched to the public last month.
Shake Shack is going cashless with kiosks in New York City later this month. New York, according to company CEO Randy Garutti, is what the retailer considers “the playground” — Shake Shack’s go-to choice for testing out new innovations for consumers. This cashless kiosk coming soon to Astor Place will not have a cashier counter. Instead, guests will use digital kiosks to order their food — or utilize their smartphones, if they have the mobile Shake Shack app.
Two Indian alternative lenders are partnering up to target the nation’s small- and medium-sized businesses (SMBs). Reports in The Economic Times on Thursday (Oct. 5) said Tata Capital and Capital Float are teaming up, a deal in which Tata Capital will provide working capital loans to SMBs borrowing through Capital Float’s platform. The companies have also developed a new solution, the “Pay Later” offering, that enables companies to borrow, based on a credit limit, for up to a year.
Looks like Jessica Alba’s co-founded Honest Company might be in a bit of honest trouble. According to emerging news reports, the five-year-old home and body care product company is looking to raise $75 million in new Series D venture capital funding at $19.60 per share, according to a Delaware filing first spied by CB Insights and reported by Axios.
Cybersecurity weighs heavily on corporates’ minds, especially when incidents like the Equifax data breach occur. But often, businesses prioritize security of customer data, then safeguard internal company data. Experts warn some companies could be missing a huge area prone to data hacks: payroll. “Payroll data is a treasure trove for cybercriminals, and payroll professionals need to question applications, processes and relationships with third parties to help ensure that data are secure,” wrote
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.
Sleep tech startup Eight has launched a new Alexa skill that allows users to interact with their mattress, both to control it (by adjusting the temperature, for example) and to access their sleep data using the Echo and other Amazon devices. “You don’t even need to touch your phone – you can just ask Alexa how you slept,” CEO Matteo Franceschetti told TechCrunch.
Bank customers and regulators would likely agree: There’s no excuse for a financial institution to accept lackluster cybersecurity measures. But according to a new report from BitSight, that’s exactly what’s happening as FIs work with partners and other third-party service providers. Last week, the company published its latest report, “ The Buck Stops Where?
United Parcel Service and FedEx stocks were under pressure Thursday (Oct. 5) after reports surfaced that Amazon is testing its own delivery service to reduce congestion in its warehouses and offer more products for free two-day shopping. First reported by Bloomberg , citing people familiar with the plan, the service is being called Seller Flex internally, which was initially launched by Amazon in 2015 in India.
Seattle-based Amazon’s long-rumored delivery service — and feared disruptor of FedEx Corp. and the United Parcel Service (UPS) — may actually be coming soon, according to Bloomberg. Reports emerged this week that Amazon is testing the service as part of its push to expand free two-day delivery offerings and solve its warehouse overcrowding problem.
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.
In payments, there are revolutions marked by sweeping changes in very short periods of time — online shopping, anyone? For payment platforms, the conduits that keep commerce’s wheels greased are similarly transformed by change, and with constant evolution in the cards. In a recent interview with PYMNTS, Tammi Shapiro, vice president of product strategy and management at financial services provider Fiserv , laid out some of the ways in which businesses — especially the most traditional, in the la
Digital payments and cryptocurrencies like bitcoin may be getting all the attention, but that doesn’t mean cash doesn’t still reign supreme. At least, that’s the case in England anyway, with Bank of England ’s (BOE) Chief Cashier Victoria Cleland adamantly stating that “cash is not in decline.”. Cleland made the remarks at the Future of Cash Conference in Vienna, Austria, on Oct. 5, continuing the argument that, despite the fact that non-cash purchases and transactions are on the rise in the U.
Paying with your smartphone is OK, but having the option to pay with any device you want — phone, smartwatch, fitness tracker, key fob — all while enjoying the confidence that the transaction is equally secure no matter which method you choose — now that’s the consumer way. Options and convenience are two tried and true methods for winning users in the technology world, and those are exactly what FitPay and NXT-ID aim to offer.
A recent “Lost in Transaction” Paysafe study polled 3,000 consumers in the U.S., the U.K. and Canada regarding their attitudes about the use of cash. According to its findings, the mobile wallet movement may be gathering momentum. More than half of consumers appear to be expecting to adopt digital payment methods in the next few years. The Paysafe study focused on one main question: What is the tipping point that has been moving people from cash payments to alternative cash formats, thus setting
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.
Cash. Plastic. Never the twain shall meet. Paysafe’s recent study on consumer attitudes to cash, “ Lost in Transaction ,” details the way notes and coins are evolving in an increasingly mobile age. Tracking payment methods and consumers across the United States, the United Kingdom and Canada, the study queried more than 3,000 individuals to reveal some changes in how money is viewed and used.
Cash is thriving, despite the emergence of bits and bytes. That statement may come as a surprise against a backdrop where digital wallets and eCommerce have grabbed their share of headlines and acclaim in the payments world. But as readers in this space know, the move to cashless is not a done deal, nor is it written in the cards (no pun intended). A recent whitepaper by Cardtronics , in partnership with Edelman Intelligence for its 2017 Health of Cash study , has been titled “ In a Digital Worl
We all know that B2B represents a huge market, ripe for a sea change in how payments are done. For financial supply chains, cutting to the chase: It’s time to cut the paper chase. To that end, WEX has introduced accounts payable (AP) B2B payments across its integrated payables platform, which is powered by its network, dubbed Paygenus. The company said in an August news release that the integrated accounts payables platform operates through a cloud-based and bank-agnostic framework, allowing for
Coinbase, the popular cryptocurrency exchange, is facing an inquiry by regulators in the U.S. over a flash crash back in June that erased nearly all the value of the Ethereum (Ether) currency, the second most popular cryptocurrency. According to a report in Bloomberg , the Commodity Futures Trading Commission (CFTC) wants information from Coinbase about its GDAX platform and the June 21 crash.
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.
Aiming to protect users from hackers and political operatives, Google is gearing up to enhance its online security tools. Citing two people familiar with the company’s plan, news from Bloomberg reported that starting in October, it will roll out its Advanced Protection Program, which will provide increased security tools for online accounts, such as email or other services.
Commerzbank is the latest financial institution to join the blockchain-fueled trade financial initiative launched by UBS and IBM, according to Reuters news reports on Wednesday (Oct. 4). Bank of Montreal, Erste Group Bank and CaixaBank have also jointed the effort, which has culminated in the launch of the Batavia platform to help banks and their corporate clients streamline trade finance processes.
Trulioo , the global identification company, announced news on Wednesday (Oct. 4) that it launched its Global Business Verification solution aimed at providing a low-cost way to conduct due diligence on businesses around the world. In a press release, Trulioo said the tool can help verify if a business is real in order to enable companies to detect cybercrime, fraud and other criminal activity, like tax evasion or money laundering.
Though paper checks are clunky, unpopular and outdated, they still dominate the American economy in terms of payment methods, with more than $22 trillion in checks written each year. That’s bad news for consumers, though, who have made it clear they feel it’s time to #KilltheCheck. They rated checks as the worst disbursement method, giving it a score of 4.4 out of 100 in the inaugural PYMNTS Disbursement Satisfaction Index™, in collaboration with Ingo Money.
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.
One week after reporting a $3.1 billion financing infusion from a group of lenders led by JPMorgan Chase, toy and game retailer Toys R Us is announcing new steps in its post-bankruptcy restructuring. In recent retail news, Chain Store Age reported Monday (Oct. 2) that Toys R Us has partnered with global marketplace solutions provider Mirakl to create a new online marketplace.
Challenger banks. The image is one of “put up yer dukes” in Europe’s financial world, specifically in the U.K. Scrappy upstarts versus older and slower, but experienced, champions. Megabytes of data vs. marbled halls. And against all of this, PSD2 , of course, looms large. The directive is meant to foster innovation in the banking sector. Beginning early next year, banks are required to have APIs in place that would allow consumers to opt into third-party services.
When it comes to advancements in robotics and artificial intelligence (AI), new research finds that Americans are more worried than excited about what this new technology means for them. A Pew Research Center survey of 4,135 U.S. adults presented respondents with four different scenarios relating to automation technologies, including the development of autonomous vehicles that can operate without the aid of a human driver and a future in which robots and computers can perform many of the jobs cu
A study of 1,000 Chinese consumers indicates that for the first time, local maker Huawei has edged out Apple for being the number one smartphone consumers are preparing to purchase. This results sounds the latest round of alarms about the iPhone 8 — and indicates just how powerful the players making phones in China, namely Huawei, Oppo and Vivo, have become.
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.
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