Weekly Ledger 29: Top Stories in Accounting and Finance

January 17, 2017 Lauren Ruef

 

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What Industry Players Really Expect from 2017—PYMNTS.com
Executives from financial technology companies share their predictions for the biggest trends of 2017. Perspectives from a wide range of fintechs including Payoneer, NCR, FTV Capital, and Ingo Money cover the digitization of paper checks, adoption of mobile wallets, and biometrics replacing lengthy passwords. Of all the predictions, CEO of Ingo Money Drew Edwards made one thing abundantly clear: “The digitization of the paper check at the source: 2017 will see incredible growth in business push payments."

FinTech Boom: China Going Cashless, Consumers Ditching Banks—Cointelegraph
Chinese companies topped KPMG's Fintech 100 list, signaling the popularity of alternative financial technologies in China over traditional banking services. The wide acceptance of mobile payments is one indicator that the Chinese market is moving away from cash, maybe permanently. Alipay, an online payment solution, reportedly settles 58 percent of all online payments in China and remains one example of how regular bank accounts could be a thing of the past.

What Oreos Can Teach Accountants About Growing Their Firms—Accounting Today
Mary Ellen Biery for Accounting Today (@AccountingToday) covers how America's favorite cookie has a lesson for accountants seeking to grow their services. Much like the popular cookie brand has done with its several variations of Oreos, it's about leveraging new products that keep customers engaged. Biery asserts: “The lesson for accounting firms, according to Tolin, is they should take advantage of the numerous opportunities they have to innovate their existing services and create entirely new services, new packages of services or new methods of delivering their services."

Big Banks Are Stocking Up on Blockchain Patents—Bloomberg
MasterCard, Goldman Sachs, and Bank of America—among others—have pursued blockchain technology patents, sparking concern that the publicly available open-source code upon which the technology is built will be tied up in legal disputes for years to come. The article cites the breadth of the issue: “Companies worldwide applied for or received patents for 356 families of blockchain- or cryptocurrency-related patents in November, up from 180 in January [...]"

5 Fintech Startups to Watch in 2017—Fast Company
Ainsley O'Connell (@ainsleyoc) for Fast Company clears the deck for a new year of fintech hopefuls. Industries like insurance and real estate are expected to make their mark on the fintech sector in 2017. O'Connell's list includes San Francisco-based car insurance startup Metromile, a mobile app for managing investments via a smartphone called Stash, and Tilt, which is disrupting competitors like Venmo by unifying peer-to-peer payments and crowdfunding. 

About the Author

Lauren Ruef

Lauren is a Research Analyst at Nvoicepay. She has six years of experience in the technology and B2B payments industry.

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