In the recent industry report by Association for Financial Professionals (AFP), the use of paper checks in B2B payments increased in 2016. Further, another industry survey showed that the majority of businesses value surety and security of the payment more than the speed of the payment. Historically, businesses are comfortable in providing net-30, 60, or 90 days terms to keep their customers happy.
According to Juniper Research, B2B payments netted some $136 trillion worldwide in 2017 and $20 trillion in the US, where banks and financial institutions represented 93% of cross-border money transfers in 2017 using “traditional methods.” It appears that B2B payment industry is ready for disruption and modernization. However, a B2B payment transaction is complex as it involves invoicing, reconciliation, tax reporting, bookkeeping, approving, and executing payment. Also, existing payment avenues are well-established and familiar to the end-user. There are certain regulatory, privacy, and security issues that limit adoption to new payment technologies.
On 14 September, 2018 NDK Sofia, Bulgaria will host NEXT BLOCK Conference “Evolution Of Money” organized by Krypton Events, in partnership with Cryptovest.
NEXT BLOCK is one of the leading blockchain conferences in Eastern Europe, bringing together top technology executives, top-tier investors, promising blockchain ventures and industry visionaries from around the world for business and networking.
It brings together over 350+ participants and 20+ distinguished speakers. Moreover, the Conference will be concluded by a luxurious After-Party, the most fabulous crypto-party of 2018 in Balkans.
FX brokers are facing a tsunami of leverage restrictions, increased technology cost, and client acquisition cost. Consequentially, retail firms need to move their client base upstream. Leverage restrictions are coming primarily from Europe under ESMA while other growth markets like Southeast Asia and South America may one day follow suit. The lower leverage is reducing the profitability of the retail trader for many brokers depending on their business model.
If you are a retail firm looking to pivot to the institutional market you need the best technology to be successful. Why try to plug a square peg into a round hole when all you need to do is license the Condor Back Office for MT4.Contact us today!
The decision to develop or buy an existing back office solution is crucial to any growing business, more so for FX Brokers. A ‘back office’ has different connotations to different users – CEO, CFO, Dealers, Head of Sales, Compliance, and so on. We will attempt to outline some of the main functionalities in this article. While a single system that covers all business, needs is the theoretical ideal, one must weigh this decision carefully in terms of practicality, cost and usage. Different solutions currently available have many advantages in terms of specialization, training, security access, reduced risk of one system failing affecting others, to name a few.
Our team of software and business experts can help you find the right solutions to help you stay ahead of your competition. Contact us today!
Beginning December 18th, Bitcoin futures will be introduced through two major US U.S. Exchanges. With all this talk about Bitcoin, let’s delve into exactly what it is how it will affect the markets.
Bitcoin now has the distinction of being the world’s most coveted currency. Nasdaq is planning to add its own futures next year. Bitcoin has arrived on Wall Street and is here to stay, whether regulators are ready or not!