Fed wants US businesses to stop using paper checks | BofAML joins effort to improve cross-border payments experience | Fitch flags unreported payables financing
August 9, 2018
News and information for treasury professionals
Top Stories
Fed wants US businesses to stop using paper checks
The Federal Reserve wants to move US businesses away from the still widespread practice of issuing paper checks. The Federal Reserve Bank of Minneapolis has formed a Business Payments Coalition to partner with companies in advancing the use of electronic remittance.
Pymnts (8/7) 
LinkedIn Twitter Facebook Google+ Email
BofAML joins effort to improve cross-border payments experience
Bank of America Merrill Lynch is among a dozen banks that have partnered with SWIFT to help create an enhanced standard for international payments. "Corporates want to track payments in real time and get confirmation of credit to the beneficiary's account," says Marc Delbaere, global head of corporates at SWIFT. "This new multi-bank capability will enable that experience in a consistent fashion, across multiple banks and multiple corporates. Having this information instantly in the corporate treasury space is what corporate customers are asking for."
Treasury Management International (7/25) 
LinkedIn Twitter Facebook Google+ Email
Industry News
Factor investing provides options for treasurers seeking yield
Factor investing lets treasurers gain access to equities markets while managing risk levels. The strategy does not rise to the risk profile of active investing, but is not quite passive either.
Treasury Today (8/1) 
LinkedIn Twitter Facebook Google+ Email
Fitch flags unreported payables financing
The practice of reverse factoring, or financing unpaid invoices, has caught the attention of Fitch Ratings, which notes that "the magnitude of this unreported debt-like financing could be considerable in individual cases and may have negative credit implications."
Pymnts (8/6) 
LinkedIn Twitter Facebook Google+ Email
Companies keeping US tax windfall so far
A reduction in the corporate tax rate in the US has yet to deliver on the expected economic gains as firms continue to hoard cash. President Donald Trump made cutting the corporate tax rate one of his key election promises.
Treasury Today (8/1) 
LinkedIn Twitter Facebook Google+ Email
E-payments technology paves way for contextual banking
Advancements in technology mean a future in which contextual banking is possible, enabled by speedy electronic payment systems that can execute transactions on demand.
Pymnts (8/2) 
LinkedIn Twitter Facebook Google+ Email
Deloitte: AI, Blockchain, chatbots changing finance landscape
Chatbots, artificial intelligence and blockchain technologies are transforming corporate finance operations, according to a report from Deloitte. The use of automation technology across sectors is changing the face of finance.
Computerworld (7/25) 
LinkedIn Twitter Facebook Google+ Email
Experts say AI software could do the job of 4.3M humans by 2021
Artificial intelligence software allows companies to automate some simple tasks involved in accounting, payments and customer service, but experts say the technology could be used for more complex applications with robotics. General Motors, BMW, General Electric, Unilever, Cisco, Google and government agencies have implemented AI software, and Forrester Research predicts robotic AI technology will do the work of almost 4.3 million human employees by 2021.
The New York Times (tiered subscription model) (8/5) 
LinkedIn Twitter Facebook Google+ Email
How smart contracts can create a competitive edge
Smart contracts use blockchain technology to execute agreements without third parties, such as banks, that verify payments. Early adopters will have to overcome challenges but also might reduce fraud risk and expedite payment processes.
CPA Insider (8/6) 
LinkedIn Twitter Facebook Google+ Email
Bank of America Merrill Lynch Insights
BofAML highlights the value of diversity
Bank of America Merrill Lynch highlights the value of diversity and its contribution to the bottom line in this article. "Whether through employee networks or other ways, leaders and mentors should look at the quality of peoples' work rather than their backgrounds," said Rita Sola Cook of the BofAML Global Commercial Banking unit. "It's about recruiting our next generation of employees, our next generation of leadership,"
Bank of America Merrill Lynch (2018) 
LinkedIn Twitter Facebook Google+ Email
The only way to prove that you're a good sport is to lose.
Ernie Banks,
baseball player
LinkedIn Twitter Facebook Google+ Email
Learn more about :
BofAML Home Page  |    Bank of America Newsroom  |    About Bank of America  |    CashPro┬« Online
About Bank of America
Bank of America Merrill Lynch's Global Transaction Services (GTS) business provides comprehensive global treasury solutions across the breadth of the working capital cycle, including liquidity management, payments and receipts, commercial card, foreign exchange and trade and supply chain finance. With a history spanning more than 230 years, GTS services thousands of clients - small businesses, mid-size companies, large corporations, financial institutions and public sector entities - in more than 200 countries and 140 currencies.
Sign Up
SmartBrief offers 200+ newsletters
Learn more about the SmartBrief audience
Subscriber Tools:
Contact Us:
Editor  -  Sean McMahon
Mailing Address:
SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004
© 1999-2018 SmartBrief, Inc.®
Privacy Policy (updated May 25, 2018) |  Legal Information