Stocks- U.S. Futures Point to Lower Open

Investing.com | October 08, 2018

Stocks- U.S. Futures Point to Lower Open
Investing.com - U.S. futures pointed to a lower open on Wall Street Monday, as rising bond yields and increasing interest rates made equities less attractive to investors. The S&P 500 futures fell 7 points or 0.25% to 2,886.75 as of 6:50 AM ET (10:50 GMT) while Dow futures were down 87 points, or 0.33%, to 26,405.0. Meanwhile tech heavy Nasdaq 100 futures decreased 26 points, or 0.35%, to 7,410.0. U.S. bond markets are closed for Columbus Day but stock markets are open. Still, trading volumes were expected to be thin, with most banks and federal agencies closed for the holiday.
Concerns over rising bond yields weighed on investors, as the yield on the benchmark United States 10-Year note reached its highest level seen since 2011 on Friday. It climbed about 15 basis points last week and is up about 20 basis points over the last month.Tesla (NASDAQ:TSLA) was among the top gainers in premarket trading, rising 1.63%, while General Electric (NYSE:GE) surged 2.05%.

Spotlight

Qi Bin, director general of the Research Center at the China Securities Regulatory Commission (CSRC), discusses the rapid growth and latest developments in China's capital markets, as well as recent policies, challenges and solutions, and the outlook for future development of the markets

Spotlight

Qi Bin, director general of the Research Center at the China Securities Regulatory Commission (CSRC), discusses the rapid growth and latest developments in China's capital markets, as well as recent policies, challenges and solutions, and the outlook for future development of the markets

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FINTECH

Treasury Prime BaaS Partnership with Piermont Bank Builds Momentum with Over 30 Fintech Companies Signed

Treasury Prime, the leading Banking as a Service (BaaS) company, today announced that since launching their partnership with Piermont Bank, a tech-enabled digital commercial bank, they have closed partnerships with over 30 fintech companies, including: Mythia, debit card for gamers (Read the case study) Tuvoli, a platform for the private air charter industry, (Read the case study) Wagestream, the financial well-being app for people in work (Read the case study) "Piermont Bank is a textbook example of what you need to do to be a great fintech bank," said Chris Dean, CEO of Treasury Prime. "Wendy and her team understand the urgency that fintech companies face in getting to market, and they work closely with them to help them solve problems and take advantage of opportunities. Piermont Bank embraces an engaged partner model and for our fintech clients having this direct, supportive relationship with Piermont Bank makes all the difference." Quick Start Program for Early Stage Fintech Companies The two organizations also pioneered the Treasury Prime/Piermont Bank Quick Start Program to enable early stage startups to launch in just days with a basic set of banking services including accounts, payments, and debit cards. With the Quick Start Program, companies can test their offerings and find initial product-market fit. When they scale beyond 1,000 users, they can transition to a full relationship with more flexibility and configurability. Initially focused on Y Combinator portfolio companies, Treasury Prime is expanding the program with other premier accelerators. In order for a BaaS partnership to be successful, it's critical that the bank, the technology partner, and the fintech clients share a cultural alignment. Treasury Prime has been a great partner in working with us to understand the challenges fintech companies face and create innovative approaches like the Quick Start Program to help our mutual clients move fast. Innovation banking is a core pillar of Piermont Bank, I'm very proud of what we've accomplished together." Wendy Cai-Lee, CEO of Piermont Bank Benefits of an Engaged Bank Partner Model Banking-as-a-Service and API banking relationships follow one of two models. There is the "rent a charter model" where a fintech company engages directly only with the API vendor or technology partner and the bank is entirely behind the scenes. The second is the engaged partner model in which both the technology partner and the bank partner play an active role in working with the fintech company. This is how Treasury Prime and Piermont Bank operate. With Treasury Prime and Piermont Bank, fintech companies can put their focus fully on their business knowing they have access to Piermont's expertise and the Treasury Prime's technology. Some examples of benefits of this model include: Treasury Prime and Piermont Bank work with their fintech clients to proactively address regulatory requirements and compliance so fintech companies can focus on bringing new offerings to market. With continuous access to Piermont's expertise and the Treasury Prime's technology, fintech companies can build product roadmaps such as overdraft protection or earned wage advances which go beyond the parameters of a "rent a charter" arrangement. Markets can change quickly and fintech companies often need to respond fast. Because Piermont Bank is closely aligned with its fintech clients' businesses, it can approve changes and respond to client needs at a moment's notice. What could take weeks or months in another banking relationship can be achieved in a matter of days. About Treasury Prime Treasury Prime is the leading Banking as a Service (BaaS) company that connects banks and fintechs through an API so developers can start building in minutes and launch in days. Treasury Prime's full integration into core banking systems gives developers access to a wide range of banking services from opening accounts to making payments to issuing cards. Treasury Prime is backed by Deciens Capital, Nyca Partners, Pacific Western Bank, QED Investors, SaaStr Fund, Susa Ventures, and Y Combinator. About Piermont Bank Piermont Bank is a tech-enabled digital commercial bank founded in 2019 with a mission of changing the face and pace of banking. Piermont is women-founded, entrepreneur-led, technology-fortified. It is also the first multiracial Minority Depository Institution (MDI) in the United States. It provides an unprecedented experience that blends the best of banking and agile Fintechs. At Piermont, we deliver peer banking – we meet you where you are, reflect your business needs, and act with speed.

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INVESTMENT MANAGEMENT

Mastercard Advances B2B Payments with New Supply Chain Finance Offering, Empowering More Businesses to Secure Working Capital They Need to Grow

Mastercard today announced a new supply chain finance capability within Track Business Payment Service (Track BPS) – designed to increase access to working capital while lowering costs, reducing complexity and risk, and accelerating automation when businesses pay and get paid Launched in partnership with Demica, a leading global provider of supply chain finance technology, this new offering empowers Mastercard partners to provide their business customers with access to affordable working capital. Mastercard Track, an open-loop network, can now connect providers of B2B payments and their respective buyer and supplier customers to working capital. A lack of scalable solutions in the market has put supply chain financing out of reach for many businesses. As a result, only the largest suppliers can access working capital solutions, while trillions of dollars are tied up in accounts receivable each year. Mastercard’s solution unlocks a network for working capital - covering small businesses and global corporations alike, driving speed to market, and offering ease of integration for payment partners. Demica brings a global, flexible, multi-product financing platform and expansive network of banks and other funders at scale. Payment partners and their customers can benefit from Demica’s capabilities ranging from advisory services, supplier onboarding, and a white-labelled deployment process. “We are delighted to be working with Mastercard to transform the B2B payments landscape. This partnership will unite Demica’s scalable platform technology with Mastercard’s powerful infrastructure to make a real difference for businesses globally,” said Matt Wreford, CEO, Demica. “Our platform automates financing of payables and receivables and our global network of banks and non-bank investors opens up access to new sources of capital – we’re excited to bring these benefits to more companies through our global partnership with Mastercard.” By launching this first of its kind, embedded working capital capability in Mastercard’s Track Business Payment Service multi-rail platform, Mastercard is doubling down on its commitment to empower every business to get the working capital they need to thrive. This solution enables payment partners to extend the reach of buyer programs to more of their supply chain partners, strengthening supplier relationships. Suppliers gain improved access to competitively priced early payments and enjoy enhanced user experiences, such as one-time enrollment, standard agreements, and easy implementation leveraging their partner connections. Helping businesses optimize their working capital has been one of the key goals of Mastercard Track Business Payment Service. Disparate systems and processes in the current B2B ecosystem continue to make cash flow management complicated, increase operating costs, and hinder business growth. Our new offering and partnership with Demica help solve these pain points by allowing buyers and suppliers to unlock their working capital and deploy it to grow their businesses – enabling choice and scale and accelerating financial inclusion.” Craig Vosburg, Chief Product Officer, Mastercard Mastercard is integrating its Track Business Payment Service network and its blockchain-based Mastercard Provenance Solution in supply chains across industries. Buyers and suppliers will see improved visibility, traceability, and procure-to-pay cycle times. As a result, payment partners can use this data to reduce risk, decrease reconciliation costs, and help further advance early payments in the accounts payable and receivable processes. The offering will provide access and support to a new suite of APIs to power each step of the commercial payments journey. Learn more at Mastercard Developers. This new supply chain finance offering is available on Account-to-Account (A2A) rails in the United States with plans for global expansion throughout 2022 as Mastercard continues to onboard partners in this space through its focused approach to global trade. New Track BPS Partners Offer Choice for Customers Around the World Mastercard continues its strong growth with network partners supporting Track Business Payment Service which is now live in regions around the world for A2A and global card payments. Today, businesses of all sizes can use this service to optimize payments and streamline reconciliation through payment partners in financial services, fintech, and business automation services industries. New partnerships in North America include HSBC, FreshBooks, FISPAN and SnapAP who will offer the Track Business Payment Service capability to their commercial customers. In addition, global scale continues around the world with new partners in the Middle East & Africa, Latin America, Europe and Asia Pacific including: Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Cirralto, Emirates Islamic Bank P.J.S.C, First Abu Dhabi Bank, FlowPay, H&CO, Mashreq Bank, RAKBANK, RFM Loyalty, Standard Bank, and Telr. About Mastercard (NYSE:MA): Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About Demica: We are a market-leading fintech, powering the trade finance programmes of the world’s largest trade banks and corporations. Demica’s proposition is simple: our intuitive, cloud-based platform enables financial institutions and corporates to automate and scale their working capital solutions. Today, we have over US$18bn of programs running through our platform, across the full spectrum of working capital products. Funded by a diverse range of banks and institutional investors, these programs enable companies to strengthen their supply chains and redeploy capital to drive growth.

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PAYMENTS

PrimeRevenue Launches B2B Payments Platform to Optimize Early and On-Time Payment for Global Supply Chains

PrimeRevenue, Inc., the leading provider of technology-enabled B2B payments and working capital solutions, announces its newest innovation: The PrimeRevenue SurePay platform. As the first tool of its kind, the SurePay platform streamlines B2B payment services to enable easy and accessible early and on-time payment solutions for the entire supply chain. Since 2003, PrimeRevenue's core offering has historically focused solely on early payment solutions such as supply chain finance, dynamic discounting, and accounts receivable finance. As the global business landscape evolves, PrimeRevenue has developed additional solutions that address a broader range of B2B payment needs. The SurePay platform ensures every supplier gets paid on time, every time by simplifying the B2B payments ecosystem. Customers can consolidate their entire supplier base onto one simple-to-use payments tool, eliminating cumbersome and manual processes that are costly, time-consuming, and error prone. As a result, clients save costs and streamline AP/AR processes. "The PrimeRevenue SurePay platform automates the AP/AR payment process, so once approved invoices hit our system, the platform handles the rest," said Gavin Cicchinelli, COO of PrimeRevenue. "Suppliers can confidently manage their cash flow with an intuitive platform that provides comprehensive reporting, transparency into invoice approval status, visibility into upcoming payments, automated remittance advice reporting, and so much more." Global businesses face many payment challenges, from jurisdictional payment regulations and lack of standardized payment terms to the administrative burden that comes with managing multiple ERP systems or payment platforms. At its core, PrimeRevenue has always been a payments company. As we grow, a natural evolution for PrimeRevenue is to expand into a new sphere of B2B payments. For us, that means developing innovative solutions that serve the entire supply chain – regardless of industry, jurisdiction, currency, or early payment offering." PJ Bain, CEO of PrimeRevenue About PrimeRevenue As a pioneer in global B2B payments, the PrimeRevenue SurePay platform connects the entire supply chain by improving working capital and automating digital payments. Thousands of companies around the world leverage one streamlined platform to increase payment visibility, enhance control, and improve cash flow. PrimeRevenue is headquartered in Atlanta, with offices in London, Prague, Hong Kong, and Melbourne.

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