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Billions of dollars is a lot to lose, especially in regards to a largely avoidable mistake. A study by the University of Baltimore and Excel-based FP&A company, , DataRails , lays out the full economic costs of businesses sticking with manually prepared financial reports. Breaking down the Math. $6.1 billion is the first number that came out of the research and this represents the total amount of money lost by manual financial work.
When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020.
Why is Competitor Analysis Crucial to Drive Business Growth? In the fast-paced era of automation and technological advancement, staying ahead in the business space is challenging. Especially when the market arena is noisy and full of intense competition, getting insights on your competitors becomes crucial for your business growth.
Retailers know the clock is ticking–legacy SAP Commerce support ends in 2026. Legacy platforms are becoming a liability burdened by complexity, rigidity, and mounting operational costs. But modernization isn’t just about swapping out systems, it’s about preparing for a future shaped by real-time interactions, AI powered buying assistants, and flexible commerce architecture.
The corporate landscape throughout the world appears to be in a never-ending state of transformation. Supply chain shortages, major gaps in the workforce, and a never-ending pandemic are impacting each and every industry and contributing to this perpetual state of uncertainty. Is your business set up to handle these dynamic market conditions? Do you have the resources to adapt?
Funding Societies , a digital financing platform for SMEs in Southeast Asia, has raised $144M in an extended Series C round that drew participation from K3 Ventures, Rapyd Ventures, SoftBank Group, and VNG, among others. The company also raised $150M in debt financing from undisclosed investors. HOW’S THE COMPANY PERFORMING? Singapore-based Funding Societies uses an AI-based credit assessment model to provide loans, credit cards, and expense management and B2B payment services to SMEs.
You need a more scalable and consumable way to capitalize on opening key data and processes; you know that. You’re also committed to using APIs to do it.
You need a more scalable and consumable way to capitalize on opening key data and processes; you know that. You’re also committed to using APIs to do it.
US-based Office of Foreign Assets Control (OFAC) has expanded sanctions against Russia through blocking two state-owned financial institutions and restricting sovereign debt.
A cross-party Treasury Select Committee has called on the UK government to do more to ensure that the victims of authorised push payment scams are reimbursed. Since May 2019, major UK banks have participated in a voluntary code - the Contingent Reimbursement Model (CRM), designed to provide funds back to the victims of authorised push payment fraud or APP fraud.
Scalapay , a buy now, pay later (BNPL) company, has raised $497M in a Series B. The round drew participation from Tencent Holdings, Willoughby Capital Management, Deimos Capital, and Tiger Global Management, among others. HOW’S THE COMPANY PERFORMING? Italy-based Scalapay offers a BNPL platform that enables shoppers to pay for goods in installments.
The practical notion of “open banking” is generally regarded as the exchange of data and services between financial institutions and third-party providers for the purpose of enhancing the capabilities and experiences of end-users.
Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting
Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical
Transformative credit assessment platform, Uplinq , has partnered with fundii , an equity fundraising platform dedicated to tech startups across the Middle East and North Africa (MENA) region.
How COVID-19 became a catalyst for financial crime. The COVID-19 pandemic has reshaped global economies and left millions unemployed. During the peak of the pandemic, unemployment rates in the Philippines hit a 30-year record high. While things have since improved , this ongoing economic stress will likely make more people susceptible to the siren song of money muling, especially with movement restrictions that severely limit work opportunities.
Employment Hero , a human resources software provider, has raised $129M in a Series F funding round that drew participation from AirTree Ventures, OneVentures, and SEEK, among others. HOW’S THE COMPANY PERFORMING? Australia-based Employment Hero enables SMEs to manage employment processes, such as those related to payroll, employee benefits and retirement, employment contracts, and accounting.
Considering the increase in demand for online shopping and a variety of payment options in recent years, e-commerce merchants should keep up with this pace. The speed of transaction and its fulfillment with no delay shapes customers’ buying experience and encourages them to return to the merchant again and again. It is in the best interest of merchants not only to provide an excellent service but also to use an infrastructure that can expand their business opportunities.
Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?
FedEx Express , a subsidiary of global express transportation company FedEx, has announced a strategic partnership with US-based SaaS ecommerce platform BigCommerce.
You need a more scalable and consumable way to capitalize on opening key data and processes; you know that. You’re also committed to using APIs to do it.
Found , a digital bank for freelancers, has raised $60M in a Series B. The round drew participation from Founders Fund and Sequoia Capital. HOW’S THE COMPANY PERFORMING? California-based Found offers a suite of financial services for self-employed workers via its mobile app. Over the past year, the company has increased its customer base by more than 20x.
When it comes to fraud, are people worried about the wrong things? New data suggest that people are concerned about fraud, but one of the biggest threats seems to be flying under the radar, at least for consumers. That threat is fraud scams – tactics and techniques that fraudsters are using to trick people into giving away their money. The financial impact of scams is staggering indeed: in the UK alone, authorised push payment (APP) scams accounted for £479 million in gross losses in 2020.
Build a sustainable merchant services portfolio with practical strategies to ensure long-term success. Diversify across industries to spread risk and stabilize income, balancing high-risk and low-risk clients for a robust mix. Combine large and small merchants to create a resilient payment portfolio, leveraging each type's strengths. Foster long-term relationships through exceptional service and personalized support.
You need a more scalable and consumable way to capitalize on opening key data and processes; you know that. You’re also committed to using APIs to do it.
Since cryptocurrency is such a hot sector, we created a separate offshoot of our Fintech Unicorn list tracking crypto/blockchain startups involved in financial services ( see definitions below ). We are not including all crypto companies, only those that have financial services activity as a core part of their offering ( eg., crypto exchange, lender, accounting, blockchain infrastructure, and so on ).
Brazil-based fintech Mercado Pago has announced that it will allow transactions by initiating a payment, based on the ITP number, created in the third stage of Open Banking.
Speaker: Benjamin Woll, Tiffany Spizzo, and Jaime Santos Alcón
Enterprise commerce is at an inflection point. Rigid, monolithic platforms slow brands down, but a full replatforming is disruptive and costly. Modular architecture offers a flexible, scalable alternative - allowing enterprise brands to modernize without ripping and replacing their entire stack. Learn how a composable approach helps modernize commerce stacks while maintaining control over critical systems.
Google Pay India has announced that customers using the service in the country can now apply and receive personal loans through the company’s payment service app.
Speaker: Brad Pinneke, VP of Business Development at Payrix and Worldpay for Platforms
In this webinar, Brad Pinneke, Vice President of Business Development at Payrix and Worldpay for Platforms, will dive into the 7 must-have criteria for evaluating payments partners, helping you maximize both efficiency and the long-term value of your investment. From assessing technology capabilities to leveraging business development opportunities, this session will give you a clear, actionable strategy to select the right partner for scaling your business.
Bank Negara Malaysia , the country’s central bank, has announced it will award up to five digital banking licenses out of the 29 applicants enrolled in the programme.
Augmented reality platform Nextech AR has rolled out ARitize Swirls and ARitize Social Swirls to allow ecommerce sites to advertise with 3D banners and to use 3D/AR filters re on social media, respectively.
Kenya-based Open Finance infrastructure startup Credrails has raised an undisclosed amount of seed funding as it works towards connecting the whole of Africa to its API.
The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.
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