BankInovation

FEBRUARY 21, 2024

HSBC plans to increase spending in 2024 as the bank invests in technology and its people. Costs are expected to grow to $31.2 billion, up 5% compared to 2023 due to higher technology spend and an increase in staff compensation, according to the bank’s fourth-quarter 2023 earnings release. HSBC plans to invest in technology for […]

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BankInovation

FEBRUARY 22, 2024

billion) through the efforts in 2024. Lloyds Bank is modernizing its technology and expects to save 1.2 billion pounds ($1.5 The London-based bank’s focus on technology aims “to increase the pace and efficiency of change,” Chief Executive Charlie Nunn said today during the bank’s fourth-quarter earnings call.

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BankInovation

DECEMBER 12, 2023

2024 on Tuesday, March 19, at 1:45 p.m. 2024 takes place March 18-19 at the Omni […] Tom Durkin, global product head of CashPro in Global Transaction Services at Bank of America, will present on “What’s new in digital assistants: Implementing AI for enhanced user experience” at Bank Automation Summit U.S.

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BankInovation

OCTOBER 18, 2023

The bank is looking to keep expenses flat in 2024, and recent measures, like trimming its workforce by nearly 5%, will lead to “$80 million in annualized savings next year,” Chief Financial Officer Russell Hutchinson said during Ally’s third-quarter […]

Technology 66

Technology Retail 66

CFPB Monitor

DECEMBER 20, 2023

On December 12, 2024, the Federal Trade Commission (“FTC”) announced its Combating Auto Retail Scams Rule , otherwise known as the “CARS Rule,” setting new requirements on the sale, financing, and leasing of vehicles by motor vehicle dealers.

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BankInovation

DECEMBER 6, 2023

billion on technology development in 2024 as its overall spending increases due to investment in people, incentive compensation and technology. Bank of America expects to spend $3.8 billion is part of the bank’s overall cost of running its technology platform, which totals around $12 billion, Chief Executive Brian Moynihan said Dec.

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PYMNTS

FEBRUARY 12, 2020

For retailers, 5G stands to be an opportunity to get closer to consumers and amp up the in-store experience. With speeds up to five times faster than current LTE in just a few years and reaching as much as 15 times faster by 2024, New T-Mobile’s 5G network will likely change the way consumers use the Internet. But one thing is clear.

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CFPB Monitor

JANUARY 10, 2024

On January 5, 2024, two trade groups representing auto dealers filed a petition for review challenging the Federal Trade Commission’s (“FTC”) new Combating Auto Retail Scams Rule (“CARS Rule”).

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PYMNTS

MARCH 25, 2019

To help meet customer expectations in the digital age, retailers have to know who their shoppers are and what they want. While eTailers already have this information about consumers, brick-and-mortar retailers don’t have this in-depth knowledge. They can also help capture the ages, genders and emotions (in some cases) of shoppers.

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PYMNTS

OCTOBER 22, 2019

In retail, brick-and-mortar merchants and eCommerce firms are striving to offer compelling subscription offerings. 55%: Portion of retailers in one study who said subscriptions increased customer loyalty. 1 billion: Projected number of video streaming service subscribers worldwide by 2024.

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Retail Video Study blockchain 100

PYMNTS

JULY 29, 2019

The global retail automation market is expected to exceed more than $19.5 billion by 2024 at a CAGR of 11 percent between 2019 and 2024. The latest Automated Retail Tracker looks at how automation fits into different retail categories and industries and explores whether automation means replacing the human touch.

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Retail Texas Industry Video 150

PYMNTS

APRIL 10, 2019

From CVS to T-Mobile , retailers and technology providers are catering to the trend of contactless payment acceptance with new solutions and methods of handling cards from customers. While the pharmacy retailer had slowly brought the functionality to its brick-and-mortar stores, the rollout was subsequently publicized.

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PYMNTS

AUGUST 23, 2018

trillion in market cap by 2024. percent of the retail market in the U.S, The analyst believes AWS will have operating margins of 35 percent in 2024, up from 26.9 Forget Apple and its $1 trillion market capitalization. The way MKM Partners sees it, Amazon.com could hit $2.5 which would make it larger than Walmart.

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PYMNTS

JULY 9, 2019

Retailers surely have more than enough to worry about these days. For one, the pace of innovation keeps speeding up – and that holds true for all types of retail niches, from apparel to grocery to others. The emerging 5G technology has tremendous retail potential.

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PYMNTS

APRIL 30, 2019

According to Will Byrne, CEO of Worldnet Payments , the kiosks and smart shelves that are gaining traction across any number of commerce and retail settings may even shift the employment picture a bit. The Changing Retail Footprint. As unattended retail notches an increasing footprint, said Byrne, other use cases will also emerge.

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Retail Data Operations Payments 138

CFPB Monitor

JANUARY 22, 2024

On January 18, 2024, the Federal Trade Commission’s (“FTC”) announced that it is postponing the effective date of the Combating Auto Retail Scams Rule (“CARS Rule”) in light of the legal challenge from industry trade associations seeking judicial review of the new rule.

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Retail Industry 78

BankInovation

MARCH 20, 2024

NASHVILLE, Tenn. Digital banking service provider LemonadeLXP won the inaugural Demo Challenge at Bank Automation Summit U.S. Nine financial services technology startups showcased their latest innovations with technology leaders and executives at the March 19 event.

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Nashville Digital Banking Innovation Technology 111

PYMNTS

AUGUST 28, 2018

Conventional wisdom insists that malls and other brick-and-mortar merchants are a doomed species of retail, given the increasing dominance of Amazon and the growing tendencies of consumers to shop via mobile devices and other computers. The second quarter of 2018 was kind to such retailers as Target , Macy’s , Walmart and Nordstrom.

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PYMNTS

MAY 10, 2017

While the retail point-of-sale (POS) terminals market is currently sitting at $15 billion, Global Market Insights is expecting it to reach $45 billion by the year 2024. To help combat these efforts and meet consumers preferred payment method demands, the retail POS terminal market will need to grow to bring down harmful actions.

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The Paypers

MARCH 24, 2020

A new report from Juniper Research has found that total online retail transaction values will reach USD 4.8 trillion by 2024, up from USD 3.3 trillion in 2020.

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Online Retail Report 28

Gonzobanker

JANUARY 4, 2024

In 2024, Smarter Banks will go on offense and differentiate with the customer experience. In the spirit of New Year’s resolutions, here are three ways “Smarter Banks” will flip the customer experience (CX) script in 2024. #1 2024 is an opportunity to go on offense and make CX a true point of competitive differentiation.

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Celent Banking

OCTOBER 21, 2015

For example, payments will hit 44 billion transactions a year by 2024. Whilst we don’t have a copy of the full report (hint, hint…), the press release does give us some interesting insights. This is a net growth of 3.4 billion, which hides significant and continued declines in both cash and cheque usage (53% to 33%, and 1.1% respectively).

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PYMNTS

OCTOBER 21, 2019

Brick-and-mortar retailers, as well as online merchants, are offering consumers all sorts of products and services through the subscription business model, from movies to tea. It is estimated that by 2024, there will be one billion video streaming service subscribers worldwide. “Re-imagined”

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PYMNTS

OCTOBER 8, 2019

The two sides just announced an extension of their deal to the 2024-2025 season that’s reportedly worth $1.5 These moves come amid a push by China to encourage more cross-border commerce and retail. Earlier this month, Alibaba announced a deal to buy NetEase’s cross-border retail platform Kaola for $2 billion.

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Retail Houston Online Leadership 116

BankInovation

JANUARY 18, 2024

Discover Financial Services invested in its integrated digital banking model, risk management, analytics and compliance initiatives in 2023 and expects to continue those efforts this year.

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Digital Banking Analytics Risk Management Compliance 64

PYMNTS

AUGUST 27, 2018

It’s a good time to be a retail chain. Retail Ascent. Retail is on the ascent. In July, retail sales increased 0.5 Economists had only forecasted retail sales going up 0.1 percent, online and mail-order retail sales increased 0.8 Retailer Woes. Not every retailer is experiencing good times, of course.

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BankInovation

JANUARY 17, 2024

Citizens Bank is looking toward AI and generative AI technology to improve operational efficiency and client experience.

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BankInovation

JANUARY 16, 2024

PNC Financial plans to spend $425 million this year on its ongoing improvement plan, which funds business and technology investments.

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PYMNTS

FEBRUARY 17, 2020

Brick-and-mortar retailers are bringing smaller-scale, cutting-edge technology to city locations. 23.4B: Projected value of the British to-go food market by 2024. Sainsbury’s , for instance, has unveiled a new C-store format in London called On The Go. 150M: Amount of revenue Wine.com topped last year.

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PYMNTS

OCTOBER 23, 2020

In one case, a post-pandemic disruption of digital marketplaces has powered growth for VTEX ’s D2C business with retailers and brands. 3.6T: Projected value of sales made worldwide via B2B marketplaces by 2024. All this, Today in Data. . 225M: Amount VTEX raised in a Series D funding round that valued it at $1.7

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Payments Branding Data Retail 154

PYMNTS

OCTOBER 5, 2020

The move comes as the owners of Petco are exploring a buyout of the pet retail store that could net as much as $6 billion, according to Bloomberg. Internet research firm Packaged Facts reports that eCommerce is expected to comprise 35 percent of pet product sales by 2024. percent.

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PYMNTS

MARCH 22, 2019

Speed also plays a role in authentication — especially in the wake of a new regulatory crackdown against a growing part of retail — and kiosks are helping to meet consumers’ need for instant gratification. percent: Projected CAGR of the global self-service kiosk market through 2024.

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BankInovation

MARCH 4, 2024

Lloyds Bank is looking to invest in cybersecurity and technology related to insurance and regulatory monitoring in 2024 amid uncertain macroeconomic conditions. “I like regtech because it’s important to keep on innovating in that space,” Robin Scher, head of fintech investment at Lloyds Bank, said at FinovateEurope last week. “We

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Innovation Fintech Technology Retail 71

PYMNTS

OCTOBER 22, 2020

Online clothing retailer ThredUP has filed confidentially for an initial public offering (IPO) in the U.S., And Bloomberg says that by 2024, the market could continue to grow and quadruple in value. Bloomberg reports.

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Oakland California Retail Strategy 222

PYMNTS

AUGUST 2, 2018

Retail is undergoing a reinvention with the rise of eCommerce, and merchants are trying new approaches to their brick-and-mortar stores. Overall, retailers such as Nordstrom are changing their models as an increasing amount of retail spend is now being completed away from physical retail stores. Retail spending saw a 1.6

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Retail Marketing Los Angeles Online 102

PYMNTS

AUGUST 9, 2019

Outdoor apparel retailers are reinventing their brick-and-mortar spaces to connect with customers by making stores into destinations that offer experiences. In the updated retail space, the company said, customers will “immediately feel The North Face heritage and experience the brand’s values.”

Retail 108

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BankInovation

FEBRUARY 28, 2024

National Bank of Canada focused on cost management and overall efficiency as it boosted tech spend and pulled back on headcount in the first quarter of 2024. Tech spend grew 3.6% year over year to $CA259 million ($190 million) for the quarter ended Jan. 31 as the bank continued to invest in technology across […]

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