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At its annual summit in New York , the ID2020 Alliance announced the roll out of a digital identity program with the Government of Bangladesh ; Gavi, the Vaccine Alliance; and new partners in academia, government and humanitarian relief. “Digital ID is being defined and implemented today, and we recognize the importance of swift action to close the identity gap,” said Dakota Gruener, executive director of ID2020, in an announcement.
For the past 12 years, Chad Halstead, 39, has helped land government incentives for some of the area’s biggest real estate developments. As part of his work, he’s also brushed up on the updated tax code and taken the lead on local projects using Opportunity Zones.
Sheep are not natural-born leaders. If they were, they wouldn’t need border collies or sheepherders to make sure that they didn’t follow wolves blindly into harm’s way and that they ended up where they needed to be at the end of the day. Recognizing this, in the late 13 th century, sheepherders decided to make their lives (and that of their border collies) a little easier.
The most common association with the term “social credit score” is with China. Since roughly 2014, the Chinese government has been working on the system, which is designed to be a “method to perfect the socialist market economy system, accelerating and innovating social governance,” according to a State Council notice from 2014. “China’s social credit system is an ambitious, technology-driven initiative through which the state seeks to create a central repository of data on natural
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
You want fries with that crypto? Might have to wait a bit, especially on the international stage. For some, bitcoin and cryptos — beyond a means of speculation — are a solution in search of a problem. However, among the more enthusiastic refrains from supporters: Cryptos will become ubiquitous as they scale into everyday retail environments. It’s been a slow start.
A massive data breach has compromised the records of 198 million car buyers. Jeremiah Fowler, a senior security researcher at Security Discovery , discovered the breach after coming across the same 413GB dataset multiple times. “It was clear that this was a compilation of potential car buyers wanting more information,” Fowler said, telling Forbes that the data included “loan and finance inquiries, vehicles that were for sale, log data with IP addresses of visitors, and more.”.
FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced. The regulation is top of mind, especially for European Union companies, and FinTechs are stepping up to the plate to help their customers comply with its components from a product perspective.
FinTech firms are keeping a pulse on the latest regulations and helping their clients comply with them. The European Union’s General Data Protection Regulation (GDPR), for instance, went into effect last May, and penalties are just starting to be enforced. The regulation is top of mind, especially for European Union companies, and FinTechs are stepping up to the plate to help their customers comply with its components from a product perspective.
Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. ATO and other fraud methods that rely on using stolen credit card numbers or other personal information are becoming decidedly popular with bad actors, who are employing increasingly sophisticated technologies to execute their scams.
Mobile and online banking providers have been upping their fraud protection measures over the last decade, making it more difficult for bad actors to rely on some of the schemes that previously worked in such channels. The prevalence of CNP fraud, once the bread and butter of the enterprising cybercriminal, has steadily crept downward each year alongside other forms that game customers’ credit card numbers.
Three companies have joined forces to change the way things are paid for online with a native web payments standard, according to a report by TechCrunch. To help the initiative get off the ground, the three organizations — Coil, Mozilla and Creative Commons — have a $100 million grant called Grant for the Web. The new protocol is meant to monetize the web in a way that’s standard and that everyone can use.
The future of retail is playing out in multiple places, including the open road, while voice will help capture the connected commerce frontier. In B2B payments, a series of payment innovations is promising to put an end to some common frictions. And, in digital banking, financial institutions (FIs) are working to keep fraudsters from accessing customer information and funds on their mobile and digital channels.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Voice is connected commerce’s killer app. That is just one of five critical findings highlighted in How We Will Pay 2019 , a PYMNTS, Visa collaboration examining how consumers use a wide range of connected devices to shop and make purchases. This report — the third in our annual series — shows the results of a national study of 5,000 U.S. consumers who documented their shopping and purchasing experiences over a seven-day period in mid- to late-July of 2019.
Deutsche Bank has acquired a 4.9 percent stake in the German-based FinTech Deposit Solutions, according to a Deutsche Bank press release on Thursday (Sept. 19). Deposit Solutions provides open banking technology that allows more than 100 banks across 18 countries to offer their customers products from third-party banks. Deutsche Bank has had a relationship with Deposit Solutions since 2017 with a savings product called ZinsMarkt.
Impending 5G technology holds a great deal of promise for many industries, especially for financial institutions. A 5G network could markedly improve mobile banking apps’ speed, security and ease of use. Mobile banking apps have already enjoyed mass adoption, but what are consumers using them for? And, perhaps more importantly, what do they want from digital banking apps that they aren’t currently getting?
Deutsche Bank , Germany’s largest bank, is joining the 320 banks in the JPMorgan Chase -led blockchain initiative, the Financial Times reported Sunday (Sept. 15). The move is intended to lower costs at Deutsche Bank — which clears more euro-denominated payments than any bank worldwide — and speed up cross-border disbursements to avoid expensive lag times.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
FinTech Stripe is raising $250 million in its latest funding round and has reached a pre-money valuation of $35 billion, according to a release on Thursday (Sept. 19). . General Catalyst, Sequoia and Andreessen Horowitz all participated in the round. Stripe said it’s going to use the funding to continue growing its product suite, extend its enterprise capabilities and continue to grow internationally. .
Payments companies Global Payments and TSYS ( Total System Services ) have finalized a merger deal that creates a combined pure play payments technology company with substantial international presence and expansive scale, the company said in a press release on Wednesday (Sept. 18). The collective company will use the name Global Payments and will assist some 1,300 financial institutions and about 3.5 million merchant locations in 100-plus countries. .
Uber might finally turn a profit — not through its rideshare program, but due to its trucking division. The trucking industry generated $796 billion in revenue last year, while the global ride-hailing market was valued at just $36 billion in 2017. And since its launch in 2017, Uber Freight now has a team of hundreds, with offices in San Francisco, Chicago and Amsterdam.
Open banking FinTech startup Bud is reportedly laying off up to one-fifth of its staff just months after announcing a $20 million fundraise, The Telegraph reported on Monday (Sept. 16). According to the publication, Bud is developing software that enables traditional banks to integrate directly with other financial services firms. It is part of a growing population of open banking startups looking to develop solutions around new regulations in Europe and the U.K. that promote bank-FinTech integr
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Among the defining endeavors of our time — at least for the worlds of payment and commerce — has been to bring brick-and-mortar retail stores into the new century. It’s an ongoing effort that has probably seen more failures than success stories, but that’s certainly not keeping people from betting on new innovations. The idea, as explained in a new PYMNTS interview with Adam Levene, founder of a retail technology company called Hero , is to plug the physical store, so to speak, into the larger d
Consumers live in a real-time world. Their use of mobile devices fuels the expectation that what happens on the other side of a click or a swipe will be delivered in real time — or as close to it as possible. That expectation increasingly extends to how consumers want to access their money. And for good reason, Ingo Money CEO Drew Edwards noted in a recent conversation with Karen Webster and Ingo Executive Vice President and Chief Product Officer Lisa McFarland — instant payments present a world
Perhaps everyone’s worst nightmare came true for 250,000 employees of 4,000-5,000 small businesses over Labor Day weekend: Payday came, and paychecks didn’t. In fact, it was much worse. In some cases, the direct deposits appeared briefly in employee bank accounts before being abruptly pulled — as many as three times as the platform responsible for making those direct deposits reversed and reversed deposits in an effort to make employees whole.
So now, the investigation deepens and broadens, with payroll fraud under the microscope. News came at the end of the week that the Federal Bureau of Investigation and the New York State Department of Labor are investigating the allegations swirling around MyPayrollHR , which abruptly shut down earlier in the month — and where the allegations center on whether the company diverted millions of dollars into its coffers that should have gone to employees.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Cross River, a company that provides banking services for technology companies, will join The Clearing House’s (TCH) RTP network, according to a release. By joining the network, Cross River will be able to give its clients the ability to send, settle and clear payments instantly, along with messaging capabilities, while ensuring compliance. “Since inception, Cross River has been an early adopter of new technology to provide our partners with the latest, most innovative tools to align with their
In a civil investigation that recently came to light, the Consumer Financial Protection Bureau (CFPB) is looking into Bank of America as part of a probe that came out of the phony accounts scandal at Wells Fargo. The Bureau is now trying to determine if Bank of America also went against the law through the opening of accounts for credit cards without customer authorization, American Banker reported.
Open banking has opened the path toward a number of banking/FinTech and digital partnerships leveraging APIs to speed innovations. To that end, Neonomics , which provides open banking APIs with a focus on Europe, said this past week that it has linked with Horde , a FinTech that seeks to provide individuals with app-driven overviews of their financial position across credit cards and unsecured loans.
The future of retail is playing out in multiple places, not the least of which is the open road. That’s where the connected vehicle ecosystem is being built. One of the latest examples of that comes from General Motors, which plans to add Google apps capability to its cars in 2021, according to a report. Buick, Chevrolet, GMC and Cadillac vehicles will have in-car voice, navigation and other Google-enabled capabilities.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Wirecard and UnionPay have partnered up and signed a memorandum of understanding (MoU) to expand globally, according to a release. The agreement between the two companies is meant to help support UnionPay’s continuous push for international growth while also fueling Wirecard’s presence in China. UnionPay has issued more than 7.59 billion cards, which makes up about 57.6 percent of the cards in circulation around the world.
So goes Amazon, so goes most of the rest of the retail world, with the eCommerce operator’s influence also extending to payments. That’s been the general situation for a decade or more. But will that hold true when it comes to climate change? We might soon find out. That’s because Amazon CEO Jeff Bezos on Thursday (Sept. 19) unveiled the company’s plan to tackle climate change – a plan designed to meet goals set by the Paris climate agreement, but a decade ahead of schedule.
DataVisor has announced the launch of its new Feature Platform, which automates fraud detection through the use of artificial intelligence and machine learning data capabilities. As the leading fraud detection platform powered by transformational AI technology, DataVisor uses proprietary unsupervised machine learning algorithms so that organizations can detect fast-evolving fraud patterns, as well as prevent future attacks.
With the formation of an in-house armada of carbon-neutral delivery trucks, Amazon will soon integrate another step of the online shopping pipeline. The delivery truck fleet will prove to be an intelligent long-term investment, bolster the firm’s profits and reduce carbon emissions per Bank of America, CNBC reported. Amazon CEO and Founder Jeff Bezos had unveiled a plan to take on climate change and committed the merchant to fall in line with the Paris Agreement’s aims a decade early.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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