The EU's updated Payment Services Directive (PSD2) is expected to heighten competition among the banks, open markets to non-banking challengers and foster vigorous innovation across the financial sector.
Banks which start to prepare now for the region to join the move to immediate payments can secure a major competitive advantage.
Late payments were experienced by 64% of companies in 2016, a recent Coface report found.
Automated accounting promises to save business owners time and money and remove much of the tedium from routine tasks.
The banking industry is on the frontline of technology adoption, and with the rise of fintech, banks are facing increasing pressure to evolve all aspects of the traditional ‘brick and mortar’ model.
The western Canada utility has partnered with SAP Ariba in eliminating inefficiencies from its supply chain.
Businesses are looking for speed and convenience for cross-border transactions and the good news is that real-time international payments are on the way.
Traditional banks and fintechs are in a “summer of love” period, the year of reciprocity, of mutual respect and joint ventures.
Why corporates should consider the multi-currency virtual account (MCVA) - a bank-offered cash product which allows them to maintain foreign currency balances and affect cross-boarder transactions where a physical account doesn’t exist in the local currencies.