March, 2017

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Citi Links To Treasurers Via API

PYMNTS

Citi announced Tuesday (Feb. 28) the launch of an API to connect its clients operating in the treasury services industry to critical Citi services. According to a release , the bank’s Treasury and Trade Solutions (TTS) unit is rolling out the CitiConnect API to help treasury service providers link their own treasury and ERP solutions into Citi. The bank’s API enables treasurers to manage transaction banking activity straight from existing treasury platforms already in use within the enterprise.

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APIs Raising Tough Questions About FinServ Innovation, Competition And Data Privacy

PYMNTS

The B2B payments industry is finally beginning to hustle when it comes to technological innovation. And as traditional financial institutions (FI) begin to view the value of collaborating with FinTechs, these banks can similarly shake their reputation for being innovation laggards and promote B2B payments progress while they’re at it. . This industry is on the cusp of some major innovation, too, as FinTechs roll out services that banks can offer to their own customer clients via APIs.

B2B 78
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Flashy FinTech Not Always The Answer To Better Corporate Banking

PYMNTS

Financial software firm Misys had a bit of a roller coaster year in a market constantly in flux. The U.K. company canceled its IPO last October, citing “ current market conditions” as its reason behind deciding not to pursue an estimated $7 billion float on the London Stock Exchange. Those market conditions present interesting obstacles and opportunities for everyone in the banking FinTech space.

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Time For B2B Payments To Get Standardized, Says Nordea

PYMNTS

A new report from financial services company Nordea says corporates are waiting for their banks and other FinServ providers to standardize payment processes. According to Nordea research, a quarter of corporates say their largest payments challenge is a lack of standardization across formats between banks — and 60 percent said this is one of their top three challenges.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Unlocking Paper Checks’ Potential With APIs

PYMNTS

The paper check has a nasty reputation in B2B payments as a cumbersome, manual and risky payment rail. Yet data from the 2016 Association of Financial Professionals’ Electronic Payments Survey released last September actually found a 1 percent increase in corporates’ use of paper checks compared to two years ago. For Jim Ballagh, VP of business development at corporate payments firm Ensenta , that’s not too surprising.

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Worldpay Founder To Launch Banking-as-a-Service Disruptor

PYMNTS

The U.K. banking industry has seen a slew of new market entrants in the form of “challenger banks,” but one of the latest to enter into the industry is of another sort. It’s ClearBank, a new U.K. agency and clearing bank that provides banking-as-a-service for FinTechs and banks that need to connect into payment systems and core banking technologies.

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NEW REPORT: B2B Banking’s Tech-Driven Future

PYMNTS

With hundreds of billions of dollars changing hands each year, B2B banking and payments is a big, big deal. According to industry research, the B2B payments industry moves roughly $550 billion each year, making up roughly half of the $1.2 trillion global payments market. . Despite all that exchange of funds in the B2B market, the banking industry has a reputation for being a bit behind the times technologically — and it may be justified.

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NACHA Takes Collaborative Approach On API Standardization

PYMNTS

The rise of APIs in banking and FinTech can unlock greater usability of innovative solutions but also presents some difficult questions for the space. As banks, FinTechs and a variety of software development firms explore the waters of payments and information exchange and collaboration, NACHA says there is a new idea to consider: API standardization. .

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In Corporate Treasury, Apps Are Out, APIs Are In

PYMNTS

API technology isn’t new, but all of a sudden, the world of FinTech seems to be flocking to the tool as a way to expand the financial services offered to corporates. Anis Rahal, CEO of treasury management firm TreasuryXpress , has been a vocal proponent of API technology in recent months. In earlier statements, Rahal has dubbed 2016 the year of the API revolution, and 2017 is certainly keeping with that trend.

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European Commission FinTech Task Force Seeks Public Consultation

PYMNTS

The European Commission is hoping to consult with the public concerning the growing market of financial technology as the agency looks to manage policies in the sector. Through its FinTech Task Force, the Commission last year said it will use public feedback to help guide its efforts to ensure the single market for financial services remains competitive, inclusive and efficient, Finextra reported.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Startupbootcamp Rolling Out Incubator Fintech Program In Mexico

PYMNTS

Startupbootcamp, the global accelerator network, announced Wednesday (March 1) that it is expanding to the Latin American market through the launch of a dedicated FinTech program in Mexico. According to the company , it already has FinTech programs in London, Amsterdam, New York, Singapore and Mumbai and aims to accelerate Latin American startups by providing them with funding and an avenue to grow via mentoring, providing access to corporate partners and clients and taking advantage of Mexico

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Payline Launches Payment Processing API, Developer Sandbox

PYMNTS

Payment solutions company Payline Data is the latest to launch an API for other businesses looking to process payments. The company announced this week that it is rolling out Payline I/O, a payment facilitation API for developers to integrate Payline solutions into their own tools. Payline I/O is offering a developer sandbox for developers to test out the solutions they create before they deploy them for real-world use.

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LendingHome Going After First-Time Home Buyers With New Product

PYMNTS

LendingHome, the San Francisco mortgage company, is aiming to expand its market for loans by going after first-time homebuyers. According to a report in TechCrunch , LendingHome launched a new financing product that lets people shopping for a home get an interest rate estimate and apply over the internet, without having to fill out paperwork or deal with a loan officer who will typically ask a lot of questions and put would-be borrowers through all the paces.

Finance 72
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TreasuryXpress Develops Payments API

PYMNTS

Earlier this week, Anis Rahal, CEO of treasury management company TreasuryXpress, told PYMNTS that the API has potential to disrupt the treasury management solutions space. Now, the company is acting on that belief. Reports Wednesday (March 22) said TreasuryXpress has launched its API, Payment+. The solution will be offered in the TreasuryXpress store and supports the creation of payment files from existing ERP or treasury management systems ready to be sent to the bank.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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And The Payments And Commerce Innovation Winners Are…

PYMNTS

Awards Ceremonies look easy enough from the outside, but are a lot harder to do right than just getting attractive and talented people in a room, putting them in their evening wear finest and honoring them for their myriad achievements. Sure, when it goes right, things look that easy — but when things go wrong … well, we all saw the Oscars this this year.

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Hacker Tracker: Cybercriminals Take The Phishing Path To Steal Money

PYMNTS

When something works for cybercriminals, they stick with it. Especially when it comes to phishing schemes, which typically don’t take as much effort but can result in huge payouts. Andrey Pozhogin, cybersecurity expert at Kaspersky Lab North America , joined PYMNTS to discuss the latest trends across the financial cyberthreat landscape and why the widespread threats of financial phishing, banking malware and Android banking malware are only getting bigger.

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Retail Sector To Boost Mobile POS Terminal Market Value To More Than $103B By 2023

PYMNTS

A new report by Global Market Insights reveals that the market size for mobile POS terminals will gain significant growth in the coming years, with a compound annual growth rate (CAGR) of more than 19 percent from 2016 to 2023. According to a press release , the POS Terminal Industry is expected to be valued at $103.52 billion by 2023, with the growing demand for mobile-based features, such as online payments, and the preference for smartphone or tablet usage boosting the market’s growth.

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Turning Restaurant Payments Invisible

PYMNTS

It’s a situation that is all too familiar to most people who have gone out for dinner or even to grab drinks at happy hour. You’re ready to go, but the waiter or bartender isn’t bringing the bill. Though restaurants and bars have come a long way in their offerings, oftentimes payments still remain a bottleneck in getting guests in and out the door. BarFrog is a mobile platform that connects restaurants and bars to the customers who want to frequent them, but with the integration of mobile paymen

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Bitcoin Tracker: Another Tough Week

PYMNTS

This past week proved once again that it’s tough to be a bitcoin fan. In another blow to bitcoin legitimacy, the U.S. Securities and Exchange Commission (SEC) has denied the second bitcoin-based ETF bid up for consideration in the month of March — the Intercontinental Exchange, Inc.’s NYSE Arca exchange’s request to list and trade the SolidX Bitcoin Trust.

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Amazon Go Public Opening Delayed

PYMNTS

Amazon has run up against a roadblock in its play to revolutionize brick-and-mortar grocery shopping. The online retail giant has reportedly delayed the public opening of Amazon Go due to technical difficulties with its “Just Walk Out” system. During employee beta testing that began in December of last year, Amazon’s system for monitoring and tracking customer item selection reportedly ran into trouble keeping tabs on items once they had been moved from their shelf when more than 20 people were

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IBM Readies For Blockchain Disruption Of Supply Chains

PYMNTS

IBM has been an aggressive and confident investor in blockchain technology. Late last year the firm launched a blockchain ecosystem for innovators in an effort to accelerate and promote the exploration of blockchain technology, which IBM said had the potential to disrupt industries of all types. It was only the latest sign of support for distributed ledger, with IBM announcing more than a year ago that it would begin in-house testing of blockchain-based solutions.

Finance 64
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Compliance As Competitive Advantage

PYMNTS

Detecting financial crime activity is no longer a payments problem siloed by job title and sloughed off to payments professionals — it is an organizational effort. As more payments go digital, bad guys must be more closely scrutinized by all levels of any organization. In an interview with PYMNTS’ Karen Webster, Cheryl Gurz, program director of global payments for CGI , said that to properly address financial crime, it must first be defined.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Mastercard And The Future Of Financial Inclusion

PYMNTS

There are only a few things that most people can agree on these days, notes Mastercard. One of them is that too many people in the world are denied access to banking and financial services of any kind. The second? That this lack of financial inclusion excludes them from participating in most of the payments and commerce activities that most of those reading this take for granted.

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New Report Finds IT Cybersecurity Shortage Hurting Companies In Fight Against Ransomware

PYMNTS

A new report from CyberEdge Group, a research and marketing firm serving the cybersecurity industry’s top vendors, has found that ransomware incidents are at an all-time high, with one-third of victims paying the ransom associated with an attack. A press release detailed the results of the fourth annual Cyberthreat Defense Report, which includes findings from 1,100 IT security decision makers and practitioners from 15 countries, six continents and 19 industries.

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Where Credit Scores Are Scarce, Mobile Devices Fill In The Gaps For Lenders

PYMNTS

Financial regulations forced banks to pull back from small business lending in the wake of the financial crisis as pressure to reduce risk exposure increased. Risk mitigation is also behind massive regulations like KYC and anti-money laundering rules. So while SMEs have faced a tough journey finding a bank loan across the globe — and that includes major economies like the U.S. and Europe — small businesses and entrepreneurs in emerging markets find they’re being shut out of the bank lending mark

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NEW REPORT: Can Iris Biometrics Get Banks, Customers Seeing Eye-To-Eye?

PYMNTS

As banking becomes more digital, more financial institutions are turning to technological solutions to bring more customers on board. Several banks are rolling out banking solutions that are specifically focused on winning over millennial customers as they come of age and join the marketplace as adults. Some millennial-focused banking solutions include financial tools to help users manage their money and meet their financial goals.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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The Alternative Payments Explosion Is Here, Are You Ready?

PYMNTS

Fraudsters are always looking for unsuspecting payments types that can be used to perpetrate their crimes. Today, that means alternative payment methods, or APMs. G2 Web Services categorizes these alternative payments among eight different types, which include peer-to-peer (P2P) payments, money service businesses (MSBs), eWallets, mobile payments, prepaid cards, vouchers, bank debits and credits or linked bank accounts and cryptocurrencies.

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Imagining And Preparing For A ‘Cyber Pearl Harbor’

PYMNTS

The Internet is so pervasive in our daily lives that a large-scale interruption would wreak havoc on the way we shop, interact and transact, in all corners of the globe. And, of course, the bad guys (that would be hackers, be they individuals or even state-sponsored teams) are always looking to take down huge swaths of the internet, costing companies, governments and individuals untold lost productivity and money.

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Another Day, Another zPay

PYMNTS

Any parent of small children who has recently eaten at Olive Garden or Chili’s would probably fully support nominating Viren Balar for the Nobel Peace Prize. Even though they might not know his name. Balar is one of the co-founders and the chief technical officer of Ziosk — the tableside tablet that allows diners to place and augment orders, play games, read news and, at the end, settle up the check and be on their way.

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Appthority: Uber App Puts Personal, Corporate Data At Risk

PYMNTS

Appthority, the global leader in enterprise mobile threat protection, today revealed that Uber’s ride-sharing app is putting sensitive personal and corporate data at risk. According to the press release , the app leaves users open to spear phishing, watering-hole attacks and widespread privacy breaches. Uber’s incomplete privacy policy, location tracking and “moving experience” are just a few of the issues that make the app susceptible to breaches.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.