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How Cannabis Can Become A B2B Payments Innovation Influencer

PYMNTS

The legal cannabis market’s financial services challenges are, by now, well-known. Credit unions and regional or community banks have stepped in to fill the banking gap, making barriers to accessing much needed financial services lower than ever before for marijuana businesses.

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How Real-Time Data Recharges The Monthly Financial Close

PYMNTS

Financial technology innovation has opened the doors to massive transformation of corporate finance departments. While flashy corporate FinTech is exciting, innovation efforts have rarely focused on a mainstay of corporate finance teams: the financial close process, a crucial, but continually outdated function.

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The Fiserv-First Data Merger Is Complete

PYMNTS

The big deal is now complete: Fiserv announced this morning (July 29) that it has completed its acquisition of First Data Corporation. The two massive firms first inked the deal earlier this year, which will see Fiserv purchase First Data for $22 billion in an all-stock transaction. He also noted that outside the U.S.,

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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. Only 13 percent say they’re willing to jump on the innovation bandwagon. Viewpost CEO Max Eliscu said these figures aren’t surprising, though, but still called the data “staggering.”.

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The Data Behind B2B Payments’ API Excitement

PYMNTS

From market pressures in the U.S. that have encouraged data sharing between banks and FinTechs to regulations in the U.K. and EU like Open Banking and PSD2 that require such cooperation, APIs are emerging as an essential piece of the equation for payments innovation.

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GAO: FinTech Firms, FIs Seek Alternative Data Clarity In Lending

PYMNTS

Government Accountability Office (GAO) said that financial regulators should look more closely at the role of non-bank tech companies in the small business (SMB) lending and consumer lending markets. Such alternative data, said the GAO, could pose risk to such lending decisions. Sandboxes, Gathering Steam.

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StanChart Deepens China Focus With Innovation Lab Launch

PYMNTS

bank Standard Chartered is expanding its network of innovation labs with the launch of an eXellerator lab in Shanghai, reports said this week. The latest lab will aim to promote collaboration between the bank’s employees, corporate clients and FinTech partners to develop new financial services for businesses.