The Finofo blog

In Canada, non-bank FX brokers are entities that specialize in foreign exchange services, offering an alternative to traditional banking institutions. Their service offerings include currency exchange, risk management, and solutions for handling international transactions, primarily aimed at businesses. These brokers operate on a relationship-driven model, focusing on establishing and maintaining client relationships in the FX market.

In this article, we explore the NAPAS payment network, a n important system of Vietnam's digital payment infrastructure. We'll delve into its key features, benefits, and how it is transforming financial transactions across the country. Learn how Napas enhances the speed, efficiency, and security of payments, playing a crucial role in Vietnam’s economic development and digital transformation.

QuickBooks, with its impressive user base surpassing 7 million in North America, has become a staple in modern business financial management. Esteemed for its intuitive design and comprehensive suite of features, QuickBooks adeptly caters to a range of business needs, from managing intricate payroll systems to streamlining complex invoicing processes. This widespread popularity underscores its effectiveness in simplifying financial tasks for businesses of all sizes.

In this article, we explore the SIC payment network in Switzerland. Discover how this system supports real-time gross settlement, its key features, benefits, and its crucial role in the Swiss financial infrastructure. Learn how SIC ensures efficient, secure, and timely transactions across the country.

In this article, we explore Sweden's advanced payment systems: RIX-RTGS and RIX-INST. We'll understand their unique features, benefits, and how they serve the Swedish financial infrastructure.

The New Payment Platform (NPP) in Australia marks a significant advancement in the country's financial transaction capabilities. This innovative infrastructure allows for instantaneous money transfers between accounts across different financial institutions, 24/7. NPP is designed to enhance the speed, flexibility, and convenience of payments, supporting not just rapid fund transfers but also providing options for more detailed transaction descriptions.

In this article, we explore PromptPay, Thailand's revolutionary digital payment solution. We'll discuss its key features, benefits, and how it is transforming financial transactions across the country. Discover how PromptPay enhances the speed, efficiency, and security of payments, making it an integral part of Thailand’s financial infrastructure.

In this article, we explore PESONet, the electronic fund transfer system in the Philippines. We'll discuss its key features, benefits, and how it is revolutionizing financial transactions across the country. Discover how PESONet enhances payment efficiency and security, making it an integral part of the Philippines' financial infrastructure.

Companies often rely on banks for international transactions, drawn by the trust and familiarity these institutions have built over years. Banks, seen as reliable partners, offer a sense of security in the complex world of global finance. However, while this traditional approach has its merits, it also comes with its own set of challenges. This article will delve into both the advantages and drawbacks of banking with traditional banks, exploring their role in international business dealings. So, what's your story? Are you satisfied with your bank's handling of currency conversions?

Taking a leaf out of Benjamin Franklin's book, who famously said, "Time is money," this adage holds particularly true in the realm of small- and mid-sized businesses. At the core of their financial ecosystem lies accounts receivable - the lifeblood that keeps businesses thriving. However, the process of transforming these receivables into actual cash flow is not always smooth sailing. The primary hurdle? Customers often prioritize maintaining their own cash flow, resulting in delayed payments.

In today's globalized business environment, the ability to efficiently manage multi-currency transactions is crucial. This article compares how to enable multi-currency functionalities of leading accounting platforms – QuickBooks, Xero, and Sage.

In the realm of modern accounting software, the ease and efficiency of generating invoices are pivotal. Both Xero and QuickBooks Online (QBO) have carved out a niche in this area, offering user-friendly solutions to create professional and customized invoices.

Whenever you have to make or receive international payments or domestic wire transfers, if the UK is in the equation, you may have to know what a sort code is and where to find it.

"It's a great tool, but not for everyone," is the candid feedback often heard when discussing Oracle NetSuite. Oracle, ranking as the third most popular software company globally, offers NetSuite – a cloud-based Enterprise Resource Planning (ERP) software that integrates various business functions.

In the realm of Canadian finance, Interac transfers have become a keystone, offering a swift and secure method for electronic money transfers. This article delves into the nuances of using Interac, exploring its role in facilitating everyday financial transactions for businesses. We'll uncover the key features that make Interac a popular choice in Canada, including its ease of use, real-time processing, and robust security measures.