PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators.

Data 166

Data Management Taxes Meeting 166

PYMNTS

JULY 26, 2020

Avanti Financial Group said in a press release that it has received permission from the Wyoming Division of Banking to begin operating in the state as a bank as early as October and plans to offer a real-time settlement solution for corporate treasurers.

Wyoming 153

Wyoming cryptocurrency Regulation blockchain 153

PYMNTS

NOVEMBER 7, 2019

The shortcomings were pointed out by Prudential Regulation Authority regulators. HSBC posted an 18 percent loss in pre-tax profits for the third quarter of 2019 compared to the same period last year, reports said. billion in pre-tax profits, below analyst expectations, with revenue at $13.36 The quarter posted $4.8

Compliance 101

Compliance Fraud Taxes Regulation 101

PYMNTS

MARCH 9, 2020

At the tail end of 2019, Tesco had begun looking at options for its Malaysia and Thailand businesses, including the potential for sales. billion, prior to taxes and other charges. The arrangement still must receive approval by regulators in Malaysia and Thailand. Tesco said the deal’s net cash proceeds will arrive at $10.3

Groups 130

Groups Taxes Resources Operations 130

PYMNTS

SEPTEMBER 12, 2019

Financial services providers that slack on regulatory compliance and fail to safeguard their operations against money laundering, terrorist financing and other criminal activities may face damaged reputations and significant fines. billion — 91 percent — of those penalties, while European regulators demanded $1.7 imposed a full $23.52

Fraud 189

Fraud Fintech Compliance Regulation 189

PYMNTS

JUNE 29, 2020

Wirecard said over the weekend it would continue to operate in all but one of its European locations as the court considers the company’s insolvency request. A number of British FinTech firms have suspended services following the FCA’s restrictions on Wirecard, leaving hundreds of thousands of accounts blocked, the news service reported.

Taxes 223

Taxes Report Financial Technology Digital Banking 223

PYMNTS

OCTOBER 28, 2019

HSBC posted an 18 percent loss in pre-tax profits for the third quarter of 2019, compared to the same period last year, reports said. billion in pre-tax profits, below analyst expectations, with revenue at $13.36 Losses at some HSBC businesses are causing the bank — Europe’s largest — to restructure, CNBC reported Monday (Oct.

Taxes 101

Taxes Operations Groups Report 101

PYMNTS

OCTOBER 31, 2019

Regulators must approve it as well. Yes Bank is a private-sector bank that mainly operates as a corporate bank, but it also does asset management and retail banking. The Bombay Stock Exchange’s Sensex index also saw record highs, with a rally of more than 40,300 points due to a corporate tax cut and other business-boosting reforms.

Regulation 100

Regulation Taxes Maine Capital 100

FICO

JANUARY 18, 2019

Despite advances in customer due diligence, including the addition of advanced analytics to compliance officers’ toolkits, the scandals of 2018 confirmed that many banks are struggling to bring their operations up to regulators’ standards, to say nothing of best practices. Watch this space for more on financial crime compliance!

Compliance 40

Compliance Regulation Taxes Analytics 40

PYMNTS

MARCH 14, 2019

Both corporates and banks have said Know Your Customer ( KYC ) regulations are their most pressing compliance concerns, with nearly three-quarters of businesses with more than $1 billion in revenues pointing to KYC as their top challenge. ” and an overall rise in complexity of current regulations. ” Technological Troubles.

Fraud 115

Fraud Survey Taxes Regulation 115

PYMNTS

DECEMBER 15, 2020

Apply the local sales tax and the new total is $48.07. will go to taxes, $8.29 Khosrowshahi wrote that if all 50 states had such laws in place, Uber would have contributed $655 million to such benefits funds in 2019. According to Berkeleyside, suppose a customer’s order total at the restaurant totals $44. Of that $65.36

California 227

California New York Taxes Illinois 227

PYMNTS

AUGUST 3, 2020

Instacart hired an estimated 500,000 “shoppers” amid the mass furloughs and layoffs many companies faced this spring, and it has offered on-demand payment options since 2019 to meet its gig workers’ demands. On-demand pay appeals to gig workers for numerous reasons. The Flexible Pay Imperative And On-Staff Workers. as W-2 employees.

Payments 211

Payments Taxes Case Study Examples 211

PYMNTS

MARCH 2, 2020

In Kenya, competition regulators recently warned French grocery and retail giant Carrefour that it faces fines of up to $140 million after the Competition Authority of Kenya discovered that the company, via its franchise holder Majid Al Futtaim (MAF), has been treating suppliers unfairly. operations. Conducted by takepayments Ltd.,

Payments 143

Payments Report Training Regulation 143

PYMNTS

AUGUST 20, 2019

That’s especially important as businesses gain scale, as they expand reach into new geographic areas — and as they grapple with AP operations. In a release, Tipalti said earlier this month that it saw an increase of 250 percent in customer bookings in the first half of 2019 compared to the first half of 2018.

Management 127

Management Payments Taxes Software 127

ForwardBanker

NOVEMBER 20, 2019

The mergers and acquisitions (M&A) train that left the station in 2018, fueled by things like tax reform, interest rates inching up, and FI-friendly regulation keeps on chugging along. American Banker reports that the pace of M&A slowed slightly in 2019, but even so, more than 180 mergers were announced as of the end of.

Training 44

Training Taxes Regulation Report 44

Alex Jimenez

FEBRUARY 27, 2019

IBM Think 2019 Campus. As noted in a previous post, I attended IBM’s Think 2019 conference in San Francisco earlier this month. As Russian banks don’t have a mandate for Open Banking yet, their main driver was improving operations. She gave the example of tax auditing and dating apps sharing the same solution.

blockchain 40

blockchain Conference Security Innovation 40

PYMNTS

DECEMBER 18, 2018

The tax man cometh, logging miles — in a manner of speaking. The mileage rate increase should spur businesses to consider how they reimburse the drivers who are part of everyday business operations, especially in the age of the mobile (literally) worker. 1, 2019, the rates go to $.58 On Friday (Dec. Beginning Jan.

Compliance 148

Compliance San Francisco Operations Taxes 148

Abrigo

NOVEMBER 7, 2019

Hal Schroeder, a Financial Accounting Standards Board (FASB) board member, led a presentation, “Roadmap to the Future: Fact vs. Fiction (on CECL and Other FASB Standards),” at the 2019 ThinkBIG conference in September. During the presentation, Schroeder addressed many CECL questions, shedding light on the nuances of the standard.

Community Bank 150

Community Bank Community Lending Analysis 150

PYMNTS

MARCH 18, 2019

Last week, NACHA issued an ACH operations bulletin announcing the delay of the rollout of a third Same Day ACH (SDA) processing window by six months, to March 19, 2021. The regulator notified NACHA that they need more time to evaluate required changes to their system before giving it the green light. as of January 2019.

Payments 201

Payments Cards Operations System 201

PYMNTS

MARCH 12, 2019

and Canada, where open banking regulations are not in place, how do financial service providers act on the demand to move data and connect platforms? That is a valuable proposition for entrepreneurs, especially those that may have underestimated the administrative burden of operating a business, said Whiting. ”

Data 184

Data Fintech Strategy Regulation 184

PYMNTS

FEBRUARY 10, 2020

The jousting over eCommerce taxes — especially for U.S. firms operating on an international scale — is about to get more heated. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small.

Taxes 175

Taxes Illinois Study Operations 175

ForwardBanker

NOVEMBER 20, 2019

The mergers and acquisitions (M&A) train that left the station in 2018, fueled by things like tax reform, interest rates inching up, and FI-friendly regulation, keeps on chugging along. American Banker reports that the pace of M&A slowed slightly in 2019, but even so, more than 180 mergers were announced as of the end of.

Training 28

Training Taxes Regulation Report 28

PYMNTS

AUGUST 9, 2018

IKEA India Finance Chief Preet Dhupar revealed that in Mumbai, where the next traditional store is planned for summer 2019, a city-center format could open in the same year. The initial plan for India was to open 25 traditional stores by 2025, but the country will now get some of the smaller outlets.

Course 101

Course Retail Regulation Marketing 101

PYMNTS

SEPTEMBER 4, 2019

Merchants must handle the sales tax compliance obligations of each locale from which they receive money if they want to sell online. The complexities of sales tax compliance affect business decisions by both sellers and marketplaces, according to Ted Hettich, chief sales officer at U.K. Deciphering obligations. he said. .

Taxes 131

Taxes Policies Compliance Retail 131

PYMNTS

FEBRUARY 20, 2019

The legal cannabis industry is large as of the start of 2019 – and, according to most experts, it’s on track to get even larger. From there, the regulation of CBD gets a little more complicated. Here in the U.S., the domestic market for legal cannabis in 2018 was $9.1 Those complexities are well-known and often covered.

Retail 136

Retail District of Columbia San Francisco Denver 136

PYMNTS

NOVEMBER 29, 2019

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. At the same time, navigating tax policies is proving to be a complex business. tax policy at Avalara , noted that this holiday season is the second one post-Wayfair. The hard part?

Taxes 134

Taxes South Dakota New York Nebraska 134

TrustBank

DECEMBER 8, 2022

The BEA calculates the personal saving rate by subtracting taxes from personal income to arrive at “disposable personal income” and then subtracts personal outlays. From 1990-2019, US personal saving began to trend lower, averaging only 6.4% What’s left is an estimate of personal savings. over that 30-year period.

US 52

US Policies Taxes Washington 52

PYMNTS

OCTOBER 14, 2019

So went the narrative, which formed the central thesis of a study about the regulated taxi industry in the City of San Francisco, which was presented to then-mayor of San Francisco and now Governor of California Gavin Newsom. They want tools to help track their expenses and manage tax payments for the work they perform.

San Francisco 178

San Francisco New York Study Industry 178

FICO

FEBRUARY 27, 2019

While around one in five banks (19%) felt that increasing fines and penalties was the most feasible way to improve financial probity, a further 40 percent thought it was necessary to better resource the regulators. Financial Crime Compliance Predictions 2019: Stop the Scandals! 5 Reasons Why AML is More Important Than Ever in 2019.

Compliance 45

Compliance Regional Survey Analytics 45

CB Insights

DECEMBER 15, 2020

Get the free 64-page download to learn how industries are using tech to reimagine nearly every facet of their operations. As profits are squeezed by growing regulation and client acquisition costs , the global wealth management industry is seeing increased consolidation. First name. Company Name. Phone number. Source: Bloomberg.

Management 87

Management Fintech Industry Trends 87

CB Insights

FEBRUARY 13, 2020

In an interview at CB Insights’ 2019 Future of Fintech conference, CFO and CPO William Gaybrick indicated that businesses are more constrained by developer resources than by capital. In August 2019, the company closed out its Series F funding round from Sequoia, Andreessen Horowitz, and General Catalyst at a $35B valuation.

Online 98

Online Company Retail Payments 98

Jeff For Banks

NOVEMBER 24, 2019

September 1st, 1999, regulators from the Federal Deposit Insurance Corp, at the behest of the Office of the Comptroller of the Currency, descended on a small coal mining town in Keystone, West Virginia. Clearly, blue-suit regulators stood out. She effectively ran the bank and its operations.

National 78

National West Virginia Virginia Pennsylvania 78

FICO

JUNE 16, 2022

Tue, 07/23/2019 - 04:13. Omnichannel two-way digital dialogue was largely unproven in collections’ operations. Regulation was not always focussed on driving the right customer outcomes. Creditors were also busy enabling payment relief schemes amid relentless waves of new and emerging regulation. by Bruce Curry.

Meeting 52

Meeting Analytics Strategy Data 52

PYMNTS

NOVEMBER 30, 2020

million) financial penalty to Facebook and has pursued a criminal probe for allegedly sharing the personal data of users with other operators in the absence of permission, Reuters reported. “We The French Finance Ministry has told Big Tech firms that the Digital Service Tax is now due, PYMNTS reported, citing Reuters. billion won ($6.06

Taxes 130

Taxes Chicago Compliance Apple 130

Lex Sokolin

DECEMBER 25, 2019

If you read anything but this newsletter, you’ve got to read: Blockchain Capital’s 2019 Year in Review Messari Research Crypto Theses for 2020 DappRadar 2019 dapp Industry Review Decentralized Finance Overview So let’s narrow our entire lens to decentralized finance. Two 2019 symptoms have caused this rush?—?Facebook’s

blockchain 52

blockchain Bitcoin Software Lending 52

CB Insights

OCTOBER 26, 2020

This regulation reduced trading profits and created a need to cut costs, spurring investment banks to spin off unprofitable divisions or eliminate them entirely. While the rules against prop trading have more recently been loosened, the restriction has still changed how investment banks operate. Some banks have collapsed.

Management 78

Management Capital Company Marketing 78

BankUnderground

JULY 29, 2020

Guerrieri, Lorenzoni, Straub and Werning (2020) argue that while the lockdown is originally an (inflationary) negative supply shock because it keeps certain types of business from operating, the balance of the effects can resemble a (deflationary) demand shock under two conditions. This would of course not lock in current low interest rates.

Policies 106

Policies Lending System Tools 106