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The good old days of a two-year product development cycle are pretty much over. These days, no matter how creative, innovative and disruptive an idea a financial services player may have, the reality is they don’t have a lot of time to sit around developing it. “Speed to market is critical, more so today than it has ever been in history. In a couple of months, your great idea will have two or three competitors,” Joseph DeRosa, executive vice president of global sales at i2c , told PYMNTS in a re
The Governmental Accounting Standards Board (GASB) has issued Statement No. 91, Conduit Debt Obligations to improve the existing standards by providing a single method for government issuers to report conduit debt obligations and related commitments and to eliminate diversity in practice associated with reporting conduit debt obligations.
Are new bitcoin rules coming? According to The Wall Street Journal , “the Internal Revenue Service is expected to update its 2014 guidance on cryptocurrencies in coming weeks, following an April request from a bipartisan group of 20 lawmakers. It is part of a broader push to boost the nascent cryptocurrency industry.” Not only that, but the newspaper said the U.S.
Many traditional banking institutions and governments have shown skepticism, silence and resistance to Facebook’s proposed cryptocurrency Libra, according to reports. . Though the currency could potentially alter the financial landscape for good, many banks have simply not responded to the issue. “We’re still learning what it is and trying to work out where we stand on it — are we an opponent, partner or do we ignore?
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.
In the pre-digital age of financial services, AML/KYC was a very slow process. The government would put out their lists of sanctioned entities – hostile governments, drug kingpins, organized crime organizations and affiliates, etc. – and compliance teams would manually check onboarding customers to make sure their records were clear. The system has always had its flaws, noted Alain Meier, CEO of Cognito – but in a pre-digital banking world where onboarding was a multi-day process, it wasn’t comp
In a first-ever congressional hearing on marijuana law reform, the House Judiciary Subcommittee on Crime, Terrorism and Homeland Security convened July 10 to debate altering federal law around cannabis, CNBC reports. The consensus is that major cannabis reform is needed but disagreement still remains over what legislation should look like and the best strategy to advance it.
Retailers surely have more than enough to worry about these days. For one, the pace of innovation keeps speeding up – and that holds true for all types of retail niches, from apparel to grocery to others. Closely tied to that is the increasing demand from consumers for all types of fuller, interconnected, omnichannel experiences – shopping and transactions that not only combine offline and online channels, but are frictionless while also being fun and even memorable.
Retailers surely have more than enough to worry about these days. For one, the pace of innovation keeps speeding up – and that holds true for all types of retail niches, from apparel to grocery to others. Closely tied to that is the increasing demand from consumers for all types of fuller, interconnected, omnichannel experiences – shopping and transactions that not only combine offline and online channels, but are frictionless while also being fun and even memorable.
The questions that seem simplest tend to be the most complicated. The answers to such questions also usually end up having more significance than the answers to other inquiries. Excuse the detour into pop philosophy or Jedi teachings, but that is the case when it comes to the question “Who are you?” Those three words strike at the heart of identity, and mean so very much when it comes to the efficient operation of the global digital economy and its continuing growth, whether via retail, payments
In B2B commerce’s pursuit of the “Amazon-like” experience, both buyers and vendors have quickly discovered that business-to-business cannot take the same path that the business-to-consumer market did. Navigating through a fragmented field of disparate platforms, systems and data requirements is among the largest challenges to B2B eCommerce adoption today.
More call centers are beginning to rely on artificial intelligence (AI) for greater insights. In recurring payments, subscription commerce is having a “fear of commitment” moment. And, in retail, sellers of health and beauty products are very prepared to embrace innovation in comparison to healthcare service providers. All This, Today In Data.
To offer customers greater choice and convenience in time for the summer holiday season, Hertz , Dollar and Thrifty are welcoming debit cards at selected European locations. The new payment option provides customers with a Debit Mastercard or other recognized debit cards access to standard car and van rentals at key locations in Europe , according to an announcement.
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.
Automated retail might conjure up images of robot cashiers, but beyond a few convenience stores in Japan and Korea, that sci-fi development hasn’t yet become reality for the wider world. Robotics might take over delivery jobs before they make cashiers redundant in the U.S., though. Last month, Domino’s Pizza announced it would be testing autonomous pizza delivery in Houston with robotics company Nuro.
In the age of quick-service restaurant (QSR) dining technology innovation, restaurants are frantically looking into ways to provide consumers with mobile ordering bells and whistles like third-party payment integrations, rewards programs and surprise-and-delight offers. Some establishments are rolling out proprietary apps, while others are teaming up with third-party platforms to gain revenue.
African payments startup OPay has raised $50 million in funding after investors such as Sequoia China, IDG Capital and Source Code Capital joined in the latest round, according to a report. Norwegian browser company Opera , the founder of OPay, also contributed its own investment in the mobile payments startup with hopes of growing the company into a leader in mobile payments.
A KeyBanc analyst says Shopify could eventually rival Amazon in gross merchandise volume, according to a report by Bloomberg. . Josh Beck wrote in a note to investors that the online marketplace has received “overwhelmingly positive” feedback from developers, partners and merchants at three recent conferences. He also raised his 2020 revenue price target from $300 to $350.
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.
The chairman of the U.S. Federal Reserve called for a stop to Libra , Facebook’s proposed cryptocurrency, until the project better demonstrated how it was going to address issues like money laundering and privacy, according to a report by Reuters. Jerome Powell testified before the U.S. House of Representatives Financial Services Committee on Thursday (July 11), and his comments caused a slide in bitcoin value, which fell 7.7 percent, to $11,164.
Most individuals would feel compelled to have a good excuse if they were late in paying back someone who lent them money. This isn’t the case in the world of trade credit, however, in which millions of U.S. firms sell their products and services to each other with the expectation that they will wait weeks — or even months — to be paid. Under this informal system, late payments are common, but the reason cited by a significant portion of firms for paying late is notable: They expect their supplie
There has been, seemingly, a parade of announcements geared toward bringing B2B payments into the digital age, bringing about the end of paper, speeding the time for settlement of transactions and making payments across borders cheaper and more transparent. In some cases, blockchain is being deployed, sometimes with cryptocurrencies as part of the equation.
Consumers today want more from customer service than a long wait time and broad answers when getting through to a human agent by phone. To better service a customer base that wants more personalization in their relationships with businesses and merchants, more call centers are starting to rely on artificial intelligence (AI) for greater insights. Call centers are starting to use AI not just for data insights, but as a way to keep payments and other facets of the customer experience safe from bad
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.
Payments technology company InComm has acquired Meridian Loyalty, a business incentives company that works to build loyalty as well as engagement opportunities for corporations, according to a release. . InComm acquired Meridian to help strengthen its incentive initiatives with the creation of rewards and membership-type programs and management tools for employee, B2B and B2C platforms.
FLEETCOR -owned Cambridge Global Payments has announced the launch of its Invoice Automation Solution. Cross-border commercial payments and FX management firm Cambridge Global Payments said in a press release Tuesday (July 9) that its Invoice Automation Solution is now available as an integrated tool that streamlines the invoice-to-pay process for cross-border transactions.
A People’s Bank of China (PBoC) official said that the upcoming launch of Facebook’ s Libra could speed up his bank’s development of its own digital currency. In fact, if Libra becomes widely used for international payments, Wang Xin, head of the research bureau at the PBoC, questioned “would it … accordingly have a large influence on monetary policy, financial stability and the international monetary system?
Though not the busiest week in B2B venture capital funding, investors presented a clear preference for corporate expense management and B2B eCommerce, with additional funding going toward logistics and small business banking firms for a total of $203.5 million raised this week. Ezyhaul. The logistics space saw another boost this week with the $16 million Series B funding round in Ezyhaul , reports in YourStory said this week.
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.
With the digital identity market expected to reach $15 billion by 2024, major ID providers such as Google and Apple are racing to improve the identity verification experience. Their presence is felt in every corner of digital life: utilizing these providers to log in to third-party websites has become ubiquitous, along with the ability to pay for goods and services via the developers’ proprietary payment methods.
In its second known investment in a cryptocurrency startup, Visa has reportedly invested millions in the crypto storage company Anchorage. The payments firm co-led the funding round along with digital currency-focused venture capital firm Blockchain Capital, Fortune reported. Terry Angelos, who heads up Visa’s FinTech efforts, said the company is interested in supporting “companies like Anchorage who are working to provide secure infrastructure to the growing ecosystem of digital assets.&#
Canada is embracing the payments modernization journey, with organizations like Payments Canada driving adoption of faster, more agile payment functionality in the country. Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts.
Mastercard is launching a new service designed to make it easier for B2B vendors to accept virtual cards. The payments and technology giant announced Tuesday (July 9) the rollout of its Virtual Card Receivables Service, a tool to digitize the virtual card payment acceptance and reconciliation process for businesses. The service aggregates virtual card payment data from Mastercard issuers — including the single-use virtual card number, as well as accompanying invoice and SKU information — and com
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.
The European Central Bank (ECB) opened up about cryptocurrency and said it wouldn’t recognize it as an actual currency, according to reports. The bank also said it didn’t have any plans to put bitcoin into its reserves. The bank was responding during a question and answer session it regularly does on Twitter, where it uses the hashtag #AskECB to field questions.
Trends in legal cannabis retail are just now emerging, and fresh numbers from Colorado are providing insight into how the industry is evolving. According to a report from CNBC , Colorado, the first to make recreational pot legal, has hit a milestone: It has “surpassed $1 billion in total cannabis-related revenue, the first state in the country to hit that milestone.
Consumers around the world are showing increased interest in contactless payments, with 75 percent of United Arab Emirates (UAE) consumers expressing trust for contactless cards and 82 percent trusting mobile wallets. The U.S. could be joining that trend, as consumers become more familiar with the tech, such as from using it in public transit settings.
Can cameras replace cashers in retail? The grocery industry is making a go of it. The latest effort comes from the U.K. According to a recent Wall Street Journal report, British grocer Tesco plans to open a “pick and go” or “frictionless shopping” store to the public next year, following testing the store technologies with employees. “Eventually it wants to use the technology, developed by Israeli startup Trigo Vision , in more of its smaller grocery stores,” the report said.
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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