industry trends

What is ISO 20022? The ISO 20022 standard has been developed to get everyone in the financial sector using a single common language, consistent terminology and formats. It facilitates electronic data transfers between financial institutions, customers, users, suppliers, infrastructures and regulation authorities. ISO 20022 will transform the cross-border payments, securities, ...

Ghost cards are a name given to a specific kind of bank credit card or purchasing method. They are not a real plastic card like the ones we are acquainted with. Hence the name ‘ghost’, it is precisely a credit card number that is specific to each department within a ...

What is a QR code? The use of QR codes in Cash Automation is an interesting development. A QR code is a type of matrix barcode. QR codes can store information in both horizontal and vertical directions. This allows them to potentially hold a huge amount of information. QR codes ...

The first forms of check payments (or in UK English: ‘cheque’) were used in the early 900’s. We will be using ‘check’ for the purpose of this article. It was only in the 1900’s, almost 1000 years later that check payments became popular. People then had a way of paying ...

This article will explain in basic terms what Robotic Process Automation (RPA) technology is, and its role in the accounting industry. We will see how RPA has advanced to streamline current accounting processes, and what to expect from RPA technology in the future. What is Robotic Process Automation? When people ...

In the European Union (EU) member countries lose billions of Euros worth of Value Added Tax (VAT) each year due to VAT fraud, VAT non-compliance and dated VAT collection processes. A solution for this issue has been sought for quite some time. Some EU countries have been introducing measures to ...

What is the ISO 20022? ISO 20022 is an international payment messaging standard that supports electronic payments. The global payments eco-system is changing drastically. The ISO 20022 standard is widely considered an essential component to modernizing the global payments infrastructure. The financial world is moving towards a unified system that ...

As the years go by, there are frequent new developments in technology. These developments are typically for the better. They lead to further simplification of our daily lives, but more importantly make our jobs less complex in the world of business. These developments in technology along with human innovation, eventually ...

There is a significant financial shift happening in Switzerland right now, it is being referred to as ‘The Swiss change’. By 2018, all banks, software vendors, and individuals will have to adapt their payment systems. Credit transfers, direct debits and electronic payments will all need to use the same standards, ...