Our monthly news roundup collects headlines in payments and fintech to watch, giving leaders across industries (or fintech enthusiasts) a quick glance at some of the news in the space. In Flywire’s 12+ years in delivering the most complex, high value payments, we’ve had a unique opportunity to work with many different organizations in the fintech and payments ecosystem. We’ve seen changes in how clients get paid, how their customers want to pay and how central the payments experience has become – not just across the industries we focus on, but every industry.
Here are some of the fintech and payments headlines from April 2024.
Headlines:
Should CFOs be worried about the accounting shortage? – The CFO
As CFOs confront a critical accountant shortage impacting financial reporting and compliance, digital transformation might be the only real answer.
Tension brews over healthcare payments: JPMorgan – PaymentsDive
According to the bank’s 14th Trends in Healthcare Report, three-quarters of consumer respondents want to pay their medical bills online. But many patients are disappointed in the payment experience offered by their providers.
A Guide for Specialty Practices Navigating a Future of Healthcare that Does Good and Feels Good – MedCity News
As healthcare moves from the traditional Fee-For-Service (FFS) model toward an outcomes-based care paradigm, specialty practices have a unique opportunity to lead the way by integrating medical wellness into their practice areas.
Ask Skift: What Are Major Trends in Luxury Travel? – Skift
Skift put the question to its AI chatbot. Younger demographics, wellness, group travel, exclusive experiences, digital nomadism and increased spending were all front and center— and largely consistent with Flywire’s most recent Luxury Travel Research Report.
From Flywire:
4 takeaways for DMEs from Medtrade 2024
Several members of Flywire’s healthcare team attended the Medtrade Conference last month in Dallas as both an exhibitor and participant – one of the largest events of the year for the industry - here is are the biggest takeaways for DMEs.
Staffing shortages not only make it more difficult to care for patients, they also hamper back-office financial ops and cut into practice revenue and profitability. Inefficient manual billing and payment processes only make the problem worse. Flywire offers three ways to address the challenge.
Exploring international education partnerships: Flywire's trade mission to São Paulo, Brazil
Chris Sabiston, Flywire Director of Sales, K-12, EDU Canada, represented the company on a recent trade mission to Brazil. The event, sponsored by the Canadian Association of Public Schools, helped strengthen ties between Canadian school districts and Brazilian education agents, and showcased Canada as a destination for students worldwide.
Report of the Month:
End the Wait: SMBs and the Protracted Challenge of Delayed Payments – PYMNTS.com
Delayed payments disrupt cash flow and jeopardize the financial health of SMBs and manual processes and outdated banking solutions are the core of the problem. PYMNTS interviewed the CFO of experiential media company Mood Media on why SMBs must invest in digital now to ensure their long term viability and success.
University and College Admissions Trends Report 2024 – The Chronicle of Higher Education
Recruiting competition between institutions, staffing shortages and student retention are big challenges for higher ed admissions teams. In this report, Acuity Insights' looks at the problems and offers strategies to manage them.
2024 Payments Fraud and Control Survey Report - Association of Financial Professionals (AFP).
80% of organizations were victims of payments fraud attacks/attempts in 2023, a 15% increase vs. prior year. This downloadable report digs into the latest threats, the most vulnerable payment methods and more.
Word of the Month:
Related to part-time and gig work, “fractional” work” is a relatively new work arrangement in which mid- or senior-level executives (typically) provide specialized skills or management services to multiple organizations on a part-time or project basis.
Stat of the Month:
The share of the nation’s credit card network that Visa and Mastercard account for in 2024.
Absurdity of the Month:
Finally, a Pringles holster for your Crocs
There are some things you just don’t know you need, until you do. Or not.