PYMNTS
FEBRUARY 22, 2019
In a settlement that has been given preliminary approval by a federal court in New York, Visa and Mastercard, along with bank defendants, have agreed to provide roughly $6.24 billion in settlement funds. The funds are subject to a deduction that is said not to exceed $700 million, according to a notice authorized by the U.S. District Court for the Eastern District of New York.
Katz,Sapper&Miller
FEBRUARY 22, 2019
KSM is honored to be named among the Best Places to Work in Indiana for the 14th consecutive year. The distinction is awarded by the Indiana Chamber of Commerce based on employer reports and comprehensive employee surveys. In addition to being a repeat Hall of Fame recipient, KSM is one of only two companies in the state of Indiana to have been named a Best Place to Work every year since the program’s inception.
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PYMNTS
FEBRUARY 20, 2019
There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification? In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” He said that his firm may have as much as 1 percent to 2 percent of the market currently.
PYMNTS
FEBRUARY 20, 2019
Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. In a press release, the company said it launched an alternative to card payments that takes advantage of the European Union’s Payment Service Directive (PSD2) requirement for banks to create APIs for third parties to initiate payments on behalf of consumers.
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.
PYMNTS
FEBRUARY 19, 2019
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments. In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. “The results for 2018 make clear that the ACH Network is vibrant and continues to be a vital component of the nation’s economic engine,” NACHA Chief Operating Officer Jane Larimer said in th
PYMNTS
FEBRUARY 22, 2019
The relationship between FinTechs and banks has been complicated, with relatively young upstarts competing with established financial institutions in a new and growing world of digital payments and commerce. But, in fact, banks and FinTechs may make for the perfect marriage, as each works to leverage their unique strengths and opportunities. FinTechs, especially younger firms, might have robust technology as well as strong solutions to problems.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 20, 2019
Small business (SMB) adoption of technology can be a process filled with growing pains and friction points, thanks to the cost and disruption associated with integrating a new technology. Those challenges have made SMBs notoriously technology-adverse, though it may be an unfair characterization, particularly considering the influx of small business FinTech innovation in recent years.
PYMNTS
FEBRUARY 18, 2019
The global insurance technology ( InsurTech ) market is slated to become a $1.1 billion industry by 2023, analysts have predicted, with growing analytics and artificial intelligence (AI) functionality accelerating innovation in the insurance market. Corporate customers are a driving force behind the InsurTech industry’s growth, with protection against cyberattack losses a popular target among InsurTech innovators and businesses alike.
PYMNTS
FEBRUARY 21, 2019
The U.K. government’s mandate that the Royal Bank of Scotland (RBS) allocate about $1 billion for a fund intended to give a financial boost to industry competitors has hit roadblocks that could spark controversy as the first of the funds are issued. Reports in the Financial Times on Wednesday (Feb. 20) said that Banking Competition Remedies, which was established to manage the RBS fund, is preparing to announce the first three winners of the money.
PYMNTS
FEBRUARY 19, 2019
With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments.
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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.
PYMNTS
FEBRUARY 21, 2019
Every industry has its nomenclature. And sometimes, terms get thrown about interchangeably — when, really, they refer to very different things. Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.
PYMNTS
FEBRUARY 21, 2019
Financial technology firm Green Dot , which made its name on its prepaid debit card solutions, is ramping up its focus on Banking-as-a-Service (BaaS) after posting $14.3 million in net income for the fourth quarter of 2018. Green Dot revealed a 17 percent year-over-year revenue increase for Q4, according to the firm’s earnings data released on Wednesday (Feb. 20).
PYMNTS
FEBRUARY 19, 2019
Brexit may dominate the headlines when it comes to the United Kingdom, but FinTech funding proceeds apace, and financial backers show a continued sanguine attitude about the space. In news that came from across the Pond, two U.K.-based FinTechs said they have garnered more than 200 million pounds. As reported, iwoca , a small business lender focused on online lending (with loans up to 250,000 pounds) said it raised 150 million pounds in debt and equity financing (where the division was 20 millio
PYMNTS
FEBRUARY 18, 2019
Yet another challenger bank is slated to launch in the U.K. Diaspora , based in London, has trade finance at the center of its operations as it looks to address the friction of collaboration between buyers, sellers and financiers across borders. Reports in FinTech Futures on Friday (Feb. 15) said that it will target small- and medium-sized businesses with an array of trade finance products, including factoring.
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.
PYMNTS
FEBRUARY 18, 2019
The world of ridesharing — one that has expanded into such areas as food delivery and last-mile transportation needs via scooters — is about to get really interesting. Not only that, but more clarity will soon emerge about the real and perceived health of the overall industry, clarity that could lead to more development and changes, and probably more pressure on the low-performing parts of the ecosystem to shape up or face their demise.
PYMNTS
FEBRUARY 18, 2019
Facebook wants to create its own chips to deliver the type of computing speeds necessary to take the next leap forward in artificial intelligence, according to a report in the Financial Times. The company also wants to make a digital assistant – similar to Apple’s Siri or Amazon’s Alexa – that can have conversations with users and that has “common sense.”.
PYMNTS
FEBRUARY 21, 2019
By 2020, there will be an estimated 26 billion Intelligence of Things (IoT)-connected devices active around the world. As the IoT market grows, however, developers and consumers alike are growing more vigilant to protect any potential weaknesses of devices that rely on constant connectivity. While consumers are connecting with more IoT devices than ever, from the wearable IoT fitness band to the connected smart oven to the voice-activated smart speaker, this oversaturation is also creating more
PYMNTS
FEBRUARY 16, 2019
Bitwage, a FinTech that enables professionals to be paid in bitcoin and other currency from their employers, is rolling out a new service for freelancers to more seamlessly be paid, regardless of which freelance platform they use. Reports in Bitcoin Magazine last week said Bitwage is rolling out its new solution in beta, allowing freelancers to generate individual bank accounts that they can then link to their freelance marketplace platforms.
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.
PYMNTS
FEBRUARY 19, 2019
Since last year, when Canada legalized recreational pot in full, the nation became a kind of country-sized lab for how that new business would play out. That market could reach as much as $5.1 billion in annual sales by 2020, according to one estimate – though some predictions are higher, especially ones that include spending on accessories and growing supplies.
PYMNTS
FEBRUARY 21, 2019
Ever since Amazon turned its gaze to healthcare, questions about the eCommerce operator’s plans and intentions have outnumbered answers. That’s still true, and may remain so for the time being, but this week new details emerged that, at the least, is shedding light on Amazon’s healthcare vision. Okay, enough teasing. Here’s the scoop, courtesy of court testimony: Amazon wants to, in the words of The Wall Street Journal , “redesign health insurance.
PYMNTS
FEBRUARY 18, 2019
Starting a business in the United States requires being courageous, someone who embraces the idea of success as a long shot. In fact, to be a successful entrepreneur, it is probably best to be the sort of person who ignores the odds entirely. That’s because the odds for new businesses staying in business are not very good: 96 percent of businesses will never celebrate their 10th anniversary.
PYMNTS
FEBRUARY 20, 2019
In an interview with Harvard Law professor Jonathan Zittrain, Facebook CEO Mark Zuckerberg said that he’s “potentially interested” in using blockchain technology for Facebook logins, and that the tech could help the process of allowing access to data by third-party apps, according to a report from The Verge. Facebook has recently been shoring up its blockchain team , led by David Marcus, who used to be the VP of Messenger.
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.
PYMNTS
FEBRUARY 18, 2019
Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S., which the institution plans to deploy in its corporate payments operation.
PYMNTS
FEBRUARY 19, 2019
In the digital age, quick service restaurants (QSRs) have a host of technologies at their disposal to remove friction in the ordering process and drive repeat visits, such as self-service kiosks and mobile apps. Consumers have generally had strong positive experiences with digital technology. The PYMNTS Restaurant Readiness Index found that 62 percent of them said such features would make them more likely to visit QSRs in the future.
PYMNTS
FEBRUARY 20, 2019
With cybercriminals not making as much from ransomware and cryptojacking, they have been focusing more on a strategy called “formjacking” to raise cash. That’s according to Symantec’s Internet Security Threat Report , which it issued on Wednesday (Feb. 20). The cybersecurity company analyzes data from its Global Intelligence Network, which records events from 123 million attack sensors worldwide, and blocks 142 million threats daily and monitors threat activities in more than 157 cou
PYMNTS
FEBRUARY 19, 2019
Mexico’s new government, led by President Andres Manuel Lopez Obrador, is setting its sights on financial technology to get the country out of poverty. According to a report from Reuters , the Mexican government recently announced plans to make financial services more affordable in a country where more than half of the population does not have a banking account, otherwise known as the unbanked.
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
PYMNTS
FEBRUARY 17, 2019
Overstock’s tZERO isn’t performing as well as expected. According to CoinDesk , since its launch three weeks ago, daily volume for the platform’s tZERO Preferred (TZROP) token has been somewhere between 7,000 and 23,000 units — slightly lower than the company’s expectation of volume between 9,000 and 35,000 units. The company issued 26 million TZROP last August during its security token offering (STO).
PYMNTS
FEBRUARY 21, 2019
Apple and Goldman Sachs, through joint efforts, will issue a credit card that links with the iPhone, the Wall Street Journal reported on Thursday (Feb. 21). The new card is aimed at helping consumers with money management, and bringing the companies into new areas of business. As reported, the card will be first tested by employees through the next few weeks.
PYMNTS
FEBRUARY 18, 2019
Twitter users can now send small bitcoin transactions as a tip if they like a tweet, according to reports. A new app called Tippin has been released as a Chrome extension, and is currently available to the browser’s users. The app lets people send bitcoin payments over the Lightning Network, which is an instantaneous and inexpensive way for people to send and receive bitcoin.
PYMNTS
FEBRUARY 22, 2019
Uber Eats , the food delivery business of Uber, is gearing up to sell its Indian operations to Swiggy , a rival food delivery company in the country. According to a report in The Economic Times citing three people privy to the development, the transaction is expected to close in March and would mark the biggest purchase for Swiggy. It also marks the first sale of Uber’s food business around the world.
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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.
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