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Citigroup Names New Retail Banking Leader

PYMNTS

Citigroup named David Chubak, 39, to head the retail banking division in the U.S., Chubak has been with Citi since leaving McKinsey in 2013 and will report directly to Anand Selva, head of the U.S. Chubak will head all retail sectors — branches, mortgages, wealth, risk management and small business, according to the memo.

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Rent-A-Center Acquires Acima For Virtual Lease-To-Own Platform

PYMNTS

21) that Acima founder Aaron Allred and his team have created a leading virtual LTO solution for retailers and consumers. “We We all share a common vision to expand the virtual LTO offering across a broader set of retail partners and to meet the needs of more customers through an integrated omnichannel strategy. billion in 2020.

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Retailers See A Future For Drones Beyond Delivery

PYMNTS

Ever since 2013, when Amazon CEO Jeff Bezos said the eCommerce giant was working on a 30-minute drone delivery program called Prime Air, people have been saying that delivery is the big retail use case for drone technology. Domino’s furthered the point by delivering a pizza by drone in 2016. Patent and Trademark Office.

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So Far, 2016 Is A Boom Year For Retail Bankruptcies

PYMNTS

Absolutely no need to panic, then — unless the topic is retail bankruptcies , which increased year over year by 24 percent. Such is the double-edged sword of a retail industry swept up in innovation. For every new path cut through the market, the retailers standing in the way are cut down. January — Wet Seal. As of Feb.

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Recology’s CleanScapes And The Future Of Green Retail

PYMNTS

Retail stores are rarely built by accident, particularly in the real world, if for no other reason than retail is sort of an intentional thing. But Recology CleanScapes — an operating company under Recology — is different from most of what is out there in retail. The first of these concept stores got off the ground in 2013.

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Signatures Sizzle (Because They Fizzle) And Retail Defaults Alarm

PYMNTS

It was a record-breaking first quarter for retailers in the U.S. According to a report issued by Moody’s earlier this week, the retail sector managed to notch a record number of defaults during Q1 2013, with nine retailers defaulting on their debt. corporate borrowers has increased to 3.9 percent, compared with 3.4

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Can ‘Elective’ Fees Work For Retail Banks?

PYMNTS

Aspiration Bank is one of those innovators hoping to gain socially-conscious consumers via a pay-what-you-like fee structure — while also managing to please investors at the same time. What we’ve really done is create this category of socially conscious, sustainable retail banking that really didn’t exist before,” Cherny said.

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