B2B embedded finance platform Toqio has made a significant move in strengthening its leadership team with the appointment of Yan Rocubert Paredes as Vice President of Technology. This appointment comes as the company continues to expand in Spain and the broader European market. A Seasoned Tech Leader Joins Toqio Rocubert Paredes brings over 20 years of experience in the software engineering field. His expertise spans notable organizations including Adevinta Spain, Raet, Unitrends, and even the Ministry of Foreign Affairs of Cuba. Most recently, he served as the head of engineering at Alma, a prominent Buy Now, Pay Later (BNPL) firm…
Author: Your TechCFO
Frax Finance is making headlines with its ambitious proposal to use BlackRock’s $530 million BUIDL token as collateral for its updated stablecoin, frxUSD. The BUIDL token, tied to BlackRock’s Institutional Digital Liquidity Fund, is backed by short-term U.S. Treasury bills, a move designed to blend the security of traditional finance (TradFi) with the innovation of decentralized finance (DeFi). The plan, presented by Securitize Markets, highlights reducing counterparty risks and enhancing liquidity. Frax’s founder, Sam Kazemian, highlighted that frxUSD will count on a mint-redeem system through “enshrined custodians,” allowing seamless minting of frxUSD by transferring approved assets like BUIDL. A Strong…
India’s FinTech powerhouse, PaySprint, has launched two innovative solutions, SprintNXT and SprintVerify, to revolutionize business banking and identity verification. Designed with advanced technology, these platforms personalize to address the evolving needs of businesses while redefining the future of financial management and regulatory compliance. CANDY: AI-Driven Precision in Identity Verification At the core of SprintVerify is CANDY, an AI-powered Identity as a Service (IDaaS) platform offering over 100 identity checks in seconds. With its no-code design, businesses of all sizes can integrate this technology effortlessly. Whether it’s fraud prevention or seamless regulatory compliance, CANDY’s adaptable workflows ensure businesses stay ahead without…
Despite its impressive capabilities, ChatGPT is still not ready to replace finance professionals. A study by Washington State University (WSU) explored the accuracy of large language models like ChatGPT, BARD, and Llama in answering questions from financial exams. AI Struggles with Complex Financial Tasks The study, published in the Financial Analysts Journal, found that while ChatGPT performed well on broad financial concepts, it stumbled when asked to provide explanations or handle specialized topics. Researchers tested over 10,000 responses to questions from exams like Series 6, 7, 65, and 66. While ChatGPT 4.0 was the top performer, its accuracy dropped significantly…
For years, treasury teams have struggled with manual, repetitive workflows. As the financial era evolves, regulatory pressures and unpredictable economic conditions are demanding more from finance teams. Traditional methods are sufficient for real-time reporting, fraud prevention, and decision-making. Enter blockchain and AI: two technologies are rapidly transforming treasury functions. AI Drives Automation, Blockchain Brings Transparency With AI, finance teams can automate accounts payable and receivable, eliminating time spent on manual reconciliations and freeing up CFOs and treasurers to focus on strategy. By providing real-time data insights, AI is reshaping financial operations for the better. Blockchain, on the other hand, introduces…
KEO World, a leading fintech firm specializing in B2B digital payments, has announced an innovative partnership with American Express and BTG Pactual Bank to expand its operations into Brazil. The collaboration will bring KEO’s Workeo platform to Brazilian businesses, offering them a fully digital solution for invoice payments, financing, and more. A Milestone for Digital Payments in Brazil This partnership marks a significant step in KEO’s expansion into Latin America, aligning with its mission to streamline financial services. The Workeo solution will integrate seamlessly with the Amex Business Link platform, enabling thousands of medium and large businesses in Brazil to…
Northern Trust has partnered with the National University of Singapore (NUS) to lead the way in green finance innovation. This strategic three-year partnership aims to revolutionize environmental, social, and governance (ESG) finance through advanced blockchain technology and actionable solutions. Tokenization for Transparency A central aspect of the partnership is the tokenization of bonds, powered by Northern Trust’s Matrix Zenith platform. This move is set to bring the green credentials of bonds onto the blockchain, providing investors with greater transparency and simplified regulatory reporting. The collaboration ensures that sustainability standards are met, promoting trust and accountability in green finance. This collaboration…
The U.S. stock market struggled Thursday, with the Dow Jones Industrial Average (DJI), S&P 500 (GSPC), and Nasdaq Composite (IXIC) all closing in the red. Persistent inflation concerns and rate-cut speculations have kept investors on edge. The S&P 500 dipped 0.5%, while the Nasdaq lost 0.6%. The Dow slid 234 points, reflecting a cautious mood across markets. A sharper-than-expected rise in the Producer Price Index (PPI) added to concerns, signaling that inflation may remain sticky longer than anticipated. Inflation Data Casts Doubt Fresh inflation data shook confidence in the Federal Reserve’s path forward. The PPI for November jumped by 0.4%,…
ABN Amro is reshaping the B2B payment era with the launch of its innovative ‘Pay Later’ feature. This debtor management pilot, developed in partnership with B2B tech firm Two, aims to tackle a persistent challenge in online transactions: trust. Under this initiative, ABN Amro guarantees payments and takes over debtor management for merchants, allowing business clients to pay via online invoices without the risk of non-payment. Why It Matters Recent research by the 2022 Market Monitor highlights the urgency of this solution. While 90% of companies place online orders, many hesitate due to concerns about delivery reliability and the hassle…
In today’s digital age, customer experience has become a critical differentiator for financial institutions. As competition intensifies, banks are increasingly turning to cloud banking as a means to enhance customer satisfaction and streamline operations. By leveraging cloud services, banks can offer innovative solutions that not only meet but exceed customer expectations. This blog will explore how cloud banking improves customer experience, the benefits it provides, and the future of banking innovation in the context of customer satisfaction. Understanding Cloud Banking Cloud banking refers to the delivery of banking services through cloud computing technology. This approach allows banks and financial institutions…