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The Financial Technologies SMEs Aren’t Using

PYMNTS

The average small business considers itself a “moderate” user of technology, according to the PYMNTS.com SMB Technology Adoption Index. 70 percent of SMEs didn’t use tax software in 2016 , found Office Depot in its most recent Small Business Index survey. Only 13 percent say they’re willing to jump on the innovation bandwagon.

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Top Banks Keep Ahead Of FinTechs’ Competitive Threat

PYMNTS

The delicate balance between bank-FinTech competition and collaboration continues to teeter in the U.S. In a market without Open Banking regulations, FinTechs continue to enter in to the market, collaborating with bank partners to offer their own financial services — which often compete directly with other financial institutions.

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Ant Financial Changes Focus To Technology Services

PYMNTS

Instead, it is honing in on technology services, CNBC reported. Yet, technology services is becoming a larger part of Ant Financial’s sales. By comparison, the company’s technology services were approximately 34 percent of revenues in 2017. It generated $2 billion in pre-tax profit last year.

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FinTech Partnerships With FI Marked By Global Scope

PYMNTS

The cost of technology has lessened, though, opening the door for SMEs to bring bits and bytes to supply chains – lessening reliance on manual processes and invoices of the paper kind, thus eliminating errors. The software firm, Sage, has had five of its accounting offerings focused on VAT, accredited by the UAE Federal Tax Authority.

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AltFin Shines As Investor Interest In B2B FinTech Continues

PYMNTS

and India drove a surge in FinTech venture capital funding in 2017, and Accenture Financial Services Senior Managing Director Julian Skan pointed to the B2B business model as a significant presence in this trend. Total venture capital across the global FinTech market between 2010 and 2017 hit a combined $97.7 Blockchain.

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2017 Top Reader Picks

Gonzobanker

With an ever-shrinking number of vendors in the FinTech pool, bankers must hold their providers accountable – even it means leaving them. The card processing landscape experienced significant changes in 2017, and this shift in players will impact financial institutions well into the future. Heloc Tax Deduction Suspension.

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Where Bank Account Data Alone Falls Short For SMB FinTech

PYMNTS

APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. “Your traditional bank technology only works on what’s happened,” Lyons told PYMNTS in a recent interview. “It works on something called a complete record. In the U.S.,

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