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Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. According to Wednesday (Feb. 28) reports by the Global Trade Review , the bank’s senior innovation manager, Joshua Kroeker, held a media call and announced that after developing the trade finance solution for about two years, HSBC is “confident enough to actually do a live transaction” using its blockchain technology.
In the most sweeping overhaul of the U.S. tax code in more than three decades, the Tax Cuts and Jobs Act of 2017 will have a profound impact on businesses and their owners. Join us as KSM's tax professionals discuss what we know now about the new tax law, how key components should be interpreted, and more.
Commercial payments provider FLEETCOR Technologies, Inc. announced news on Thursday (March 1) that it has entered a pilot program with enterprise blockchain solution firm Ripple and Cambridge Global Payments , the international payments provider focused on B2B and owned by FLEETCOR. The companies said in a release that under the terms of the agreement with Ripple , Cambridge — which processes more than $20 billion in B2B cross-border payments annually, across 13,000 business clients — will pilo
NACHA and the Interactive Financial eXchange (IFX) Forum have announced plans to combine their organizations to improve the development of standardized Application Programming Interfaces (APIs). The partnership, which is expected to be finalized at the end of the first quarter, will speed up the creation and rollout of standardized banking APIs. “The powerful combination of IFX Forum’s established leadership in financial industry standards, along with additional technical expertise in the area o
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.
For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. Department of Justice has criminally charged 10 defendants. Prosecutors named U.K.-based Beaufort Securities Ltd and two of its managers, among others, in the case, according to news from Reuters. Prosecutors said Beaufort and managers Peter Kyriacou and Vinesh Canaye manipulated the prices of U.S. stocks through “pump-and-dump schemes,” while hiding their ownership in the companies.
Imagine a coffee shop. In this imaginary coffee shop — let’s call it Mooncheddar — there are tables and chairs, a service counter staffed by hip, young millennials with half-shaved heads, delicious and ethically sourced coffees, pastries baked in-house, free WiFi and even mobile ordering. Mooncheddar sounds like it has it all. But would you eat and drink there if the restrooms were filthy?
TransNational Payments is launching a payments application programming interface (API) for developers, the company announced on Thursday (March 1). In a press release , TransNational revealed the launch of Pi, short for “perfect integration,” to support developers’ implementation of its payments processing solution into their own solutions. The API was created using JSON, a JavaScript data interchange format, which, according to TransNational EVP Mark London, makes the solution “more agile, sinc
TransNational Payments is launching a payments application programming interface (API) for developers, the company announced on Thursday (March 1). In a press release , TransNational revealed the launch of Pi, short for “perfect integration,” to support developers’ implementation of its payments processing solution into their own solutions. The API was created using JSON, a JavaScript data interchange format, which, according to TransNational EVP Mark London, makes the solution “more agile, sinc
Millennials are apparently reporting losing money to fraud more often than seniors. But when seniors do become financial victims, they typically take a bigger hit than millennials do, the Federal Trade Commission (FTC) said in a press release. Forty percent of those aged 20-29 who reported fraud indicated they lost money, while only 18 percent of those 70 and older said they lost any funds.
Of the initial coin offerings that blasted onto the scene in 2017 along with the price of bitcoin , 46 percent have failed. That’s according to Engadget , which — citing data from TokenData — reported that of the 902 ICOs in 2017, 46 percent have failed. Among that percentage, 142 never got the funding and another 276 have faded away or were scams. What’s more, the report noted that another 113 ICOs have stopped talking about their project online or haven’t had enough adopters that success will
The gig economy is out in full force, spanning the globe and any number of jobs, from welding to wedding planning, from knitting to pet sitting. The platform’s the thing, then, that brings the supply and demand together. Or, it should. In the latest Data Drivers, PYMNTS’ Karen Webster, along with Hyperwallet’s Michael Ting, senior vice president of digital markets, delved into the friction that exists in online marketplaces that brings together the gig worker and the gig worker employers …
Bitcoin investors may be losing money, but the companies that support this burgeoning market aren’t. Bitmain, a Chinese company that makes bitcoin mining hardware and operates a mining farm, raked in between $3 billion and $4 billion in profits last year. CNBC , citing estimates from Bernstein Research, the Wall Street investment firm, reported that based on estimates for gross margins of 75 percent and operating margins of 65 percent, the company made between $3 billion and $4 billion in
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.
Push payments. Instant payments. Real-time payments. Every endeavor has its vocabulary, and the payments arena is no different. Although industry observers and participants use the above terms interchangeably, there are differences in transaction timing that can make all the difference to recipients. In short, when it comes to speed, all payments are not created equal.
Of all the loan options available to small businesses today, the merchant cash advance (MCA) may not be a borrower’s first choice. Like the payday loan, the MCA has a reputation for high fees, and is sometimes the only option for borrowers with poor credit histories. “The merchant cash industry first started as a product for unbankable clients,” said Andrew Mallinger, COO of PIRS Capital, in a recent interview with PYMNTS.
Toward the start of 2018, analysts began to highlight the potential for venture capital (VC) to embrace the B2B business model. American Banker reported last December that Silicon Valley Bank Head of Payments Strategy and Solutions Reetika Grewal predicted B2B payments to be one of the top targets for FinTech investors, while other focuses with B2B applicability — including blockchain, artificial intelligence (AI) and RegTech — would also be popular with VCs in the coming year.
Germany’s Degussa Bank and FinTech Giromatch are teaming up to help businesses procure via Amazon Business and manage cash flow. An announcement last week said corporate customers of Degussa will be linked to a virtual card they can use to make purchases off Amazon Business. Giromatch will integrate its “digital account view” capabilities for Degussa via application programming interface (API), enabling the bank to make faster business loan decisions with access to transaction data.
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.
Enterprise software company Zensoft wants to accept cryptocurrencies from its corporate clients and has announced a partnership with OPEN to facilitate that goal. The companies said Monday (Feb. 26) they are working together to enable Zensoft to accept digital currencies as payment for enterprise software development projects. The software company will deploy OPEN’s API, its blockchain Scaffolds and its State transaction receipts solution.
In an effort to bring more investments to the financial sector, the China Banking Regulatory Commission (CBRC) has overhauled rules to make things easier for foreign investors. According to a report in Reuters , citing a statement made by state media agency Xinhua, the CBRC overhauled regulations for foreign banks, eliminating the steps a foreign investor must take in overseas wealth management products and portfolio investment funds.
In a possible deal to strengthen its delivery network in China, Alibaba reported plans to buy out Baidu and other investors in food delivery startup Ele.me. If the deal goes through, Alibaba would control a large portion of the online food delivery business in China, Bloomberg reported. Already, Alibaba owns 23 percent of Ele.me — which translates to “hungry yet?
Shipping — by road, sea, air or rail — is becoming more costly as operators across shipping routes push for higher margins. That push has left some of America’s larger retail players like General Mills and Tyson in a rather difficult bind, according to a recent Reuters article. Such firms can either pay more for deliveries and see their own margins take a hit, or pass the costs to customers and risk alienating them with higher prices.
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.
JPMorgan Chase’s chief financial officer has emerged as the top contender to replace the company’s current Chairman and Chief Executive James Dimon, who will step down in five years. According to The Wall Street Journal , Marianne Lake, one of the most senior women in finance, is on the bank’s short list of possible successors. If it turns out to be true, she would become the first female chief executive of one of the largest U.S. banks.
For street performers who swallow fire or twist into contortions, not getting hurt might seem like their biggest concern. But, increasingly, buskers are facing a new hurdle, one that threatens their income rather than their bodies. The problem? With more consumers turning to mobile and card-based payments, few carry cash that can be spared for tips.
If Amazon wants everyone to rely on its voice-activated smart assistant Alexa, today revealed that many, many people are doing exactly that; Alexa complaints lodged with the service Down Detector spiked massively on Friday morning (March 2). It appears a regional outage that affected Amazon Web Services (AWS) caused the voice assistant to go temporarily silent.
Reports out this morning indicated that a whistleblower inside Denmark’s biggest bank warned the institution that its Estonian branch was being used by members of the Putin family as a front for money laundering. That warning was reportedly in 2013. A leaked report allegedly indicated that the leadership at Danske Bank knew “of far more serious conditions than previously stated.
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.
Why steal bitcoin when you can steal the technology that enables one to make more of it? Clearly, this is the question a group of Icelandic thieves pondered before making their move on 600 computers used to “mine” bitcoin. The hardware was reportedly snatched from data centers in Iceland in what local law enforcement calls the biggest theft in the island nation’s histor y.
As new payment technologies — such as digital coins make it less necessary for people to handle cash, Cardtronics said cryptocurrencies could impact its business. The disclosure was made in a 10-K report to shareholders and was filed with the U.S. Securities and Exchange Commission (SEC), CoinDesk reported. “New payment technology, such as Venmo , Zelle and virtual currencies such as bitcoin or other new payment method preferences by consumers, could reduce the general population’s need or dem
Mastercard , the payment company, announced a series of digital payment initiatives on Tuesday (Feb. 27) aimed at different segments of the market. In a press release , Mastercard said that as of March 19, Mastercard ’s Qkr! with Masterpass will be available at all U.K. Pizza Hut locations. With the service, diners at its U.K. restaurants will be able to pay for their meals via their mobile phones without having to ask a waiter for the bill, which, the company said, will save customers 12 minu
In the digital identity space, biometrics have become all the rage. In several markets around the world, biometric solutions are gaining ground among consumers, companies and government organizations. These solutions could shift the way national security agencies in several countries operate, or force employers to change how they authenticate and identify their employees.
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.
Today in PYMNTS data, businesses spend trillions on travel without knowing where the money goes, Nigeria’s digital identity program will cost millions more than expected and artificial intelligence (AI)-powered chatbots are changing how consumers interact with banks. In addition, auto leasing transactions are getting a modern facelift, and gig workers are looking for better payment options.
The European Union (EU) announced news on Monday (Feb. 26) that it’s willing to step in and regulate cryptocurrencies if the risks associated with digital tokens aren’t addressed. According to a report in Reuters , citing officials from the European Union , the wild price movements of bitcoin last year and into 2018 has resulted in huge losses for some and big gains for others.
It’s a big job to bring restaurant dining and ordering options to consumers who may use multiple digital channels. To keep up with the pace of innovation as competitors move toward mobile ordering, delivery and payments innovations, Restaurant Brands International (RBI), which owns Burger King and other brands, hired CFO Josh Kobza as its new czar leader in January.
New analysis from the International Business Brokers Association (IBBA) suggests small business (SMB) sales will surge in the U.S. this year, driven largely by tax reform. The IBBA, along with M&A Source and the Pepperdine Private Capital Markets Project, announced their research on Monday (Feb. 26), which found that nearly three-quarters of surveyed advisors and brokers predict sales of SMBs in the country to increase this year.
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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