In fact, more than 40% of North American banks have dedicated more than 25% of their IT budget to digital transformation. Yet, Community Banks are trailing behind and the only upside to less modernization is the personal touch that is still present in their branch experience.
Financial technology (also known as fintech) companies are growing in huge numbers across the globe. In over a decade, these businesses have redefined, transformed and reshaped how financial services organisations work. Businesses such as funding platform Kickstarter, mobile payments and financial services group Square and peer-to-peer (P2P) lender Prosper have already disrupted traditional banking solutions and are completely changing the way in which consumers interact with financial services.
CFOs of large North American companies responding to Deloitte’s first-quarter 2017 CFO Signals survey expressed a positive outlook across key metrics, in some cases establishing new highs since the survey’s launch more than six years ago. The focus being placed on offense over defense by the companies represented, for example, is the most pronounced in the survey’s history, while the focus on existing geographies over new ones also hit a high, and the focus on new offerings is the highest in two years.
While P2P transactions are gaining popularity, can they address the age-old discomfort of splitting bills among friends? For the latest issue of the Faster Payments Tracker™, PYMNTS caught up with Venmo’s COO Mike Vaughan about some of the “awkwardness of money” that P2P can create, and the role of social media — and faster payments — in overcoming it. Plus, the latest news about the faster payments solutions that are transforming the way businesses and individuals exchange funds.
The American Institute of CPAs’ Financial Reporting Committee has released a new working draft on how telecommunications companies can deal with an issue related to the new revenue recognition standard.
When it comes to automating your accounts payable workflow, you need to decide on the best solution for you. In this webinar on May 12th, we take a look at MineralTree AP Automation and how we compare to other solutions in the market.
Just because a business invests in cybersecurity doesn’t mean that the enterprise is clear about the security threats it faces. Angel Grant, director of product marketing and global marketing for RSA Fraud & Risk Intelligence Solutions, said that it’s time for business leaders to change their mindset about fraud management (and offered conversation starters needed to get the ball rolling).
In a recent Global Banking Outlook study conducted by EY, more than half of the banks surveyed indicated plans to invest in new technologies and integrate robotics into their current interfaces to reduce costs of existing, high-frequency manual operations by 40% or more over the next 12 months.
MineralTree provides the easiest to use Accounts Payable and Payment Automation solutions for finance professionals at growing middle market enterprises. Serving 1000+ customers and processing $2B in annual payments, MineralTree SaaS solutions automate either the full invoice to pay or payments processes, and reduce time spent by 70 percent.