In modern-day banking, transactions are still a laborious process—sending money across the globe involves time, effort and risk. Payments moving across borders are slow, as they typically hop from one correspondent bank to another, each sitting on the funds, ccollecting afloat for who-knows-how-long.
Tech-savvy banks and the new wave of disruptors will be the beneficiaries as banking undergoes a long-awaited transformation.
Merchants are aiming to meet the expectations of increasingly demanding consumers while still maintaining operational efficiency, reports SIX Payment Services.
While the pickup in global economic growth remains on track, companies in Asia continue to report difficulties in getting paid on time.
The cash application process is an area where companies can achieve major cost and time savings, but achieving these benefits rests on securing complete information and using it effectively.
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.
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.
Understanding what motivates the fraudster is key in developing an appropriate prevention culture.
The cheque might be an outmoded payment method, but many US organisations are reluctant to give it up. What’s more, after years of decline, cheque fraud shows signs of an uptick.