Bank of America now allows companies to lock in foreign exchange (FX) rates for up to one year. The Guaranteed FX Rates offering simplifies the management of FX risk associated with cross-border payments and receipts, mitigates exposure to currency fluctuations and simplifies treasury management processes,...
The Bank of New York Mellon Corp. (BNY) and Mizuho Bank are collaborating to provide trade services to corporate clients in Asia. The banks have formed an agreement for correspondent bank network bank connectivity for international trade, they said in a Sunday (Oct. 20) press...
Cross-border payments are an integral part of the engines that keep economies worldwide going, but they get a bum rap. As payments wind their way across the globe, senders and receivers watch the proverbial game of telephone. Messages are lost, fees are layered on, tracking...
The big banks have weighed in this earnings season — not just on credit and debit, and consumer spending and Basel endgames … … they’ve also detailed, on some cases, the lure of private credit and their longer term plans in the space. Stretching through...
About two weeks after lowering fees for sellers but raising them for buyers, online marketplace Poshmark is reportedly rethinking that change. Some users of the Poshmark app have seen a message saying, “We’re actively working on our new fee structure to better meet your needs....
Evolve Bank & Trust said Saturday (Oct. 19) that it is preparing to return funds held at Evolve to Synapse Brokerage end users impacted by the Synapse bankruptcy. To provide information on the reconciliation process and the anticipated timeline for returning funds, Evolve will launch...
Banks are reportedly cutting the interest rates they pay on corporate deposits faster than those they pay on consumer deposits. These cuts followed the Federal Reserve’s lowering of benchmark lending rates in September, which was the first such reduction in four years, the Financial Times...
Oct. 20, 2009. The United States was starting to see daylight out of the darkness of the worst financial crisis since the great depression. The Wall Street Journal reported that companies were starting to see profit improvements but weren’t ready to hire workers laid off...
Artificial intelligence startup SandboxAQ is reportedly plotting a fundraise that would value the company at $5 billion. The company, which spun off from Google parent company Alphabet, is in talks with possible investors about the equity funding round, Bloomberg reported Friday (Oct. 18), citing unnamed...
