FIs show mixed uptick of Same Day ACH, CA eyes state bank for marijuana SMBs, and India SMBs still struggle with demonetization.
| | | | BUSINESS TO BUSINESS EDITION | | Banks Resigned To Role Of Utility, Not Collaborator, For SMBs
Small businesses donât consider their banks to be business partners. According to a new survey by the bank-partnering FinTech Strands, traditional FIs actually agree with SMBs: Most consider themselves to be a âutility,â not a business collaborator. That means huge opportunities are lost because â according to Pau Velando, general manager of finance at Strands â SMBs are willing to pay for value-added financial services. Banks say it will take years to digitally transform, and the window of opportunity for FIs to play catch-up, he tells PYMNTS, is quickly closing.
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| CFOs Failing Their Boards In Fraud, Risk Management
Chief financial officers and treasurers have fought for a stronger voice in the enterprise, and they're succeeding: Boards of directors largely view treasury as a strategic part of the enterprise. But the latest survey from Kyriba and CFO Research finds CFOs aren't always living up to their responsibilities, with executives saying fraud and risk management are key areas in which CFOs fall short. Kyriba takes a look at how to strengthen ties between CFOs and their boards.
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| | Faster Payments | | New Report: Whoâs Using Same-Day ACH And Why?
More than a year since its Phase 1 roll out, 43 percent of FIs now allow the origination of same-day ACH credits. But where do the rest stand â and how is it being used? PYMNTS interviewed 125 FIs to gauge the adoption of their faster payment initiatives. Spoiler alert: Itâs a real mixed bag and weâll tell you why. Find the 250 data points that make the case, inside the brand-new Same-Day ACH Use and Demand Study, in collaboration with NACHA. Read More... |
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