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Blockchain is increasingly garnering headlines and attention for its usecases beyond cryptocurrencies. One area where elimination of such processes can be of benefit is treasurymanagement — specifically, reconciliation of transactions and liquidity management. Real-Time Window To TreasuryManagement.
Patrick Moore , executive vice president and head of Capital One ‘s TreasuryManagement Product Management group, told PYMNTS that these collaborations offer the ability to integrate niche FinTech capabilities into Capital One’s broader range of services.
DBS has announced the pilot launch of DBS Treasury Tokens, a next-generation treasury and liquidity management solution, in collaboration with Ant International. DBS Treasury Tokens enables Ant International to reduce the settlement of intra-group transactions from potentially days to seconds.
Formosa Financial , a treasurymanagement system for organizations to manage their crypto assets, is collaborating with CoolBitX , a blockchain security company, a press release said on Thursday (Dec. New usecases around personal identity management, data access authorization and more are just around the corner.
That’s a metaphor, of sorts, and a caution for treasurymanagement professionals as they navigate their swivel chairs, swiveling between spreadsheets on their desks, computer screens on desktops and even apps on their phones and tablets. This technology, he continued, needs to “scale up for customer-facing usecases.
These services will support diverse cross-border usecases, including foreign education payments, e-commerce transactions, and local acceptance of gig economy payments.
On 28 August 2024, HKMA officially launched the Project Ensemble Sandbox, which will test a wide range of tokenisation usecases, including the settlement of tokenised real-world assets (such as green bonds, carbon credits, aircraft, electric vehicle charging stations, and treasurymanagement).
In a panel discussion with Karen Webster, six payments, banking and FinTech executives weighed in on the very nature of change that is transforming treasury banking and corporate clients in real time. Morgan Chase ; and Brad Windbigler , head of treasury and investor relations at Western Union. Setting the Stage.
In short, the global pandemic has ushered in rising usage — and usecases — for TCH’s RTP ® network, and Whisler doesn’t see that slowing down anytime soon. In addition to adding hundreds of institutions over the next year, Whisler is also eager to identify new usecases. “I
In a statement, HSBC Acting Global Head of Currencies Richard Bibbey said the institution currently manages “thousands of foreign exchange transactions within the bank, across multiple balance sheets, in dozens of countries,” illustrating the usecase of blockchain to streamline that process.
First Horizon Mixes Rails for Faster Treasury Payments. Using infrastructure developed by Visa within its Visa Direct service, Interchecks is leveraging its own platform to facilitate real-time transactions for corporate clients of First Horizon's treasurymanagement solutions. and we seem to be that bridge.".
However, though it is certainly a major usecase within Open Banking initiatives for FinTech firms to integrate into bank data streams via application programming interface (API), it’s not the only one. As soon as we start to see more adoption of using these types of Open Banking solutions, who knows?” Gullers said.
In embedded finance, we focus on three usecases: payment for platforms, embedding money movement into core products (global treasury), and enabling startups to build global or domestic banking products. However, we observe a growing trend where traditional businesses are increasingly adopting our products and services.
In a press release , the bank pointed to usecases such as enabling employers to issue virtual cards for employees or suppliers, as well as the capability to establish spending limits and custom expiration dates to enhance spend control. Apollo Bank Adopts CheckAlt Lockbox Technology.
Panelists included Sarah Billings , PNC’s senior vice president and head of payments product, operations and strategy; Bridgit Chayt , Fifth Third Bank’s senior vice president and director of commercial payments and treasurymanagement; and infrastructure expert Domenico Scaffidi of Volante Technologies.
According to Xalts, RWA Cloud provides out-of-the-box solutions that enable financial services, governments, and other enterprise developers looking to build digital asset platforms for implementing blockchain, tokenisation, and smart contract applications for different usecases.
Therefore, to help startups jump on this opportunity Fireblocks for Startups is providing: TreasuryManagement – Startups can secure their digital assets, manage day-to-day treasury operations, connect to exchanges, access DeFi, and interact with trading counterparties.
That’s for good reason, too, according to Chris Ward, executive vice president and head of product management for PNC TreasuryManagement. Long-term, it’s about scaling it and being able to apply it at the right places at the right times — and apply it to more and more usecases.”.
The sandbox will support further research and test tokenisation usecases that include, among others, settlement of tokenised real-world assets (such as green bonds, carbon credits, aircraft, electric vehicle charging stations, electronic bills of lading and treasurymanagement).
Coupa was founded in 2006 to offer businesses spend management solutions that help them view and control their indirect spending. Some of the company’s business spend management tools include e-invoicing, travel and expense management, spend analysis, treasurymanagement, and more.
From flexible repayment plans for cash flow management to sustainability programs that offset carbon emissions from fleet vehicles, the commercial card is versatile in this week's innovation roundup. In its announcement, PNC highlighted payroll as a key usecase for the solutions. PYMNTS rounds up these initiatives below.
“PNC has been at the forefront of real-time payments, and we are pleased to be able to extend request-for-payment capabilities across the real-time payment rails,” Chris Ward, executive vice president and head of product & operations for PNC TreasuryManagement, said in a press release.
PNC Bank ’s treasurymanagement division recently sought to provide an alternative by offering companies capabilities for suppling employees with prepaid debit cards and then pushing payroll over faster payment rails onto those tools. Adam Carter , vice president of global treasurymanagement, faster payments at U.S.
This system hopes to significantly improve the customer’s user experience, facilitate the creation of new usecases, and enable the development of highly innovative payment services that compete with new players in the international payments sector.
Sooner or later, these systems will need to interoperate to better fulfill the needs that our customers will demand from us.”. Kissler noted that CaixaBank also had to make decisions about which foreign currencies to prioritize and retrain staff in both its middle and back offices as part of a diligent transformation.
Insurance companies make up one of the largest markets for this transaction type, though, as Magats noted, it’s far from the only usecase. More businesses today are in need of sending payments to consumers.
Some industry experts are beginning to challenge that notion, though, particularly when it comes to internal cash flows and treasurymanagement processes. Still, others have said that B2B payments should be largely left out of the faster payments conversation.
“What we see more and more is that our industry, our corporate [partners] and third parties are using these capabilities in usecases where they need real-time updates,” Kam said.
Although receiving payment is, of course, critical, without the ability to understand which invoice that transaction is tied to, AR, finance and treasury executives are unable to accurately analyze which bills have been paid, which are late, or which may have an issue with the customer. Further, AR is also about planning for the future.
Supply chain managers are watching those forces particularly close this year, analysts say. Research announced last week from Marsh & McLennan Companies found that 52 percent of treasurymanagement and finance professionals are watching geopolitical events and how they impact corporate growth.
Until quite recently, small businesses (SMBs) have been stuck with their financial institutions (FIs) either providing them with sophisticated, expensive treasurymanagement offerings or simply making do with banking services designed for individual consumers. Just look at the iPhone as an example of this pattern.
To examine how businesses weigh factors like cash flow reporting and ease of adoption to arrive at their decisions, PYMNTS caught up with Adam Carter , vice president of global treasurymanagement, faster payments at U.S. Bank , and Sara Cichoski, vice president of eEnterprise money movement at U.S. Carter said.
Regulatory disruption — think GDPR and open banking rules — shook up the business financial services market, while blockchain continued to dig deeper into usecases like trade finance and global payments. PYMNTS takes a look back at some of the most popular B2B payments stories of the year so far. Visa Buys Fraedom.
At present, payroll and gig worker payments may be the most emphasized usecases for faster payments capabilities in the corporate world, with fewer experts expecting payments acceleration to gain traction in accounts payable and supplier payment scenarios. They just don’t think there will ever be a usecase for it.”
. “We want to offer our customers the widest solution, soup to nuts — that means creation of the remittance data, creation of the payment, reconciliation of the payment, treasurymanagement services, the entire spectrum,” he noted, adding that virtual cards can address all of these needs for insurance firms.
The investment also signals the spread of the open banking business model beyond markets in which it is a regulatory requirement, with Galileo planning to use the funds to expand across Latin America as well as Europe and the U.K. Banks, FinTechs Team Up.
Each has a range of unique usecases and benefits, but at the same time, each serves generalized accounting and bookkeeping purposes for most businesses. It’s also important to note that Intuit (QuickBooks’ parent company) is sunsetting QuickBooks Desktop effective July 2024.
Now, we can finally begin to make progress on US regulatory clarity for digital assets with today’s GMAC recommendation on tokenised non-cash collateral.
SUNRATE , the global payment and treasurymanagement platform, today announced a strategic partnership with Atlas , the global travel technology company, at ITB Berlin 2025. They also allow the customisation of key parameters, such as card limits and usecases, providing tailored financial control.
Congress, the Department of the Treasury and the Federal Reserve now have to confront the ghosts of stimulus disbursements past, in which tens of millions of people needed to wait for payments to arrive via snail mail. “In Edwards noted that over 50 million government checks are still issued each year.
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