Third Coast eyes community banks’ faster payments opportunity, Federal Reserve data finds SMB profits stale, and India’s public banks to overhaul corporate lending strategy
| | | | BUSINESS-TO-BUSINESS EDITION | | The Power Problem Holding Back Supply Chain Digitization With conglomerates like Walmart driving supply chain digitization, IoT and connected devices are key to efficiency and access to real-time supply chain data. Powering those technologies, however, is a massive challenge that can prevent modernization. Preston Woo, chief strategy officer at wireless power company Ossia, spoke with PYMNTS about this "power problem" that can prevent supply chain and logistics from embracing Industry 4.0. |
| FinTech Steps In As Invoice Payment Wait Times Inflate In 2019, fewer invoices were paid late to U.K. small businesses, one construction firm was reinstated to the Prompt Payment Code, and FinTechs found opportunity in accelerating accounts receivable. But this week's B2B Data Digest finds some bad news in the ongoing fight against late B2B payments, including longer Days Sales Outstanding time frames. |
| | Small Business Banking | | Community Banks Embrace Faster Payments' Competitive Edge Amid industry consolidation, community banks continue to compete for a greater share of the small business market. But they face pressure from larger financial institutions (FIs) with greater resources, newcomer FinTechs with agile technology, and an assumption that smaller banks lack a digital-first mindset. Jenny Moss, senior vice president at Texas-based FI Third Coast Bank, tells PYMNTS why faster payments will be an opportunity for small banks to remain competitive and showcase their digitization focus. |
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