B2B payments: Businesses implement blockchain solutions
Today in B2B payments, Stablecorp is beta-testing a financial management platform powered by blockchain technology, while Byline Bank has signed with Tassat Group to use its blockchain-based TassatPay to enable real-time payments. In addition, Liberis raised approximately $154 million to expand its small business financing platform.
Stablecorp Beta Launches Blockchain-Based Treasury Management Platform
Stablecorp, a Canadian blockchain technology companyhair announced the beta launch of a personal and commercial payment and financial management platform powered by blockchain infrastructure.
Through the Grapes Finance platform, Canadian individuals and businesses will gain access foreign exchange (FX), payment and yield analysis solutions through one portal, built on blockchain rails and using both fiat and digital assets.
Chicago-based Byline Bank adopts TassatPay for real-time payments
Chicago-based Byline Bank has signed with Tassat Group to use the blockchain-based platform TassatPay to give the bank’s B2B customers access to real-time payments at any time, with no limits on transaction size or volume.
“Transactions are meant to be completed around the clock, and Byline Bank is our newest partner witnessing the power of real-time payments,” Tassat Chairman and CEO Kevin R. Greene said in a press release.
Liberis raises $154M to expand small business financing platform
Liberis, a London-based embedded business finance platform, has secured £140 million (about $154 million) in funding to expand its Small and Medium Enterprise (SME) funding programme.
The company said in a press release that its platform uses machine learning to understand a customer’s risk profile and the maximum funding available to them, allowing for higher origination volumes.
Amazon, Lendistry Expand Small Business Lending Program
Amazon is expanding the Amazon Community Lending program that launched as a pilot last year in partnership with Lendistry, a minority-led community development financial institution.
The new goal is to lend more than $150 million over the next three years to small and medium-sized businesses that sell on the Amazon store in the United States.
Community banks get SME legs with the FinTech Lending Platform
Ranqx aims to fix what ails millions of small and medium-sized businesses (SMEs) seeking faster access to capital from banks and other lenders worldwide. The company began helping to democratize finance in New Zealand in 2014 and announced last month that it has formally begun operations in North America.
“We’re just a small country and we’ve always looked to the US,” Ranqx CEO Dave Lewis told PYMNTS’ Karen Webster in a recent interview.
Start-up CFOs must balance rapid growth against short-term needs
A chief financial officer (CFO) of a fast-growing startup must be adaptable and comfortable with “constant transformation,” SoSafe CFO Felix Fichtl told PYMNTS in a recent interview.
Fichtl said his role involves juggling all the challenges that come with growth: “Additional complexity, demands for change [and added] compliance burdens.”
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New PYMNTS study: How consumers use digital banks
A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.
