Facebook Opens New Boston Office

PYMNTS

Facebook , which is headquartered in Menlo Park, California, opened a new office this week in Boston. Facebook boston headquarters News office social media What's Hot

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Amazon Launches Bookstore In Nashville, 4-Star Store In Boston

PYMNTS

Amazon has announced that it is set to open an Amazon Books location in Nashville, as well as an Amazon 4-star store in Boston. Amazon 4-Star Store B2B Payments bookstore boston Nashville News What's Hot

Boston Startup Nift Raises $16.5M for Business Gift Cards

Bank Innovation

Boston-based startup Nift has raised $16.5 million in a Series A to fund its platform for “business gift cards,” a way for local businesses to drive customer engagement by providing gift cards to their consumers.

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Lyft Tests Self-Driving Cars In Boston

PYMNTS

Lyft has started its self-driving car pilot with the self-driving car company nuTonomy , matching its riders with autonomous vehicles in parts of Boston. nuTonomy made the announcement that passengers in Boston’s Seaport district will experience self-driving rides on the Lyft network in nuTonomy vehicles. ” Ridesharing autonomous cars boston Lyft News NuTonomy Self-Driving Cars What's Hot

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Amazon Expands Boston Tech Hub; Adds 2,000 New Tech Roles

PYMNTS

Amazon , announced news on Tuesday (May 1) that it will expand its Boston Tech Hub, creating 2,000 new tech jobs in fields including machine learning, speech science, cloud computing and robotics engineering. Amazon is excited to create 2,000 more jobs in greater Boston,” said Amazon’s Vice President and Head Scientist of Amazon Alexa, Rohit Prasad, who is based in the Boston area, in the press release. “In

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Tech Center: Boston Steps Up Its Tech Game

PYMNTS

Known for its Irish roots and sports teams, the city of Boston has significantly stepped up its technology game over the past few years. With 35 higher education institutions in the Boston area pumping out innovative tech startup companies left and right, the city has attracted big-time players in the industry. In addition to Google, Microsoft, Oracle and IBM, other tech companies have followed suit to have offices in Boston, including Twitter and Amazon.

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Regulators need more tools to keep system safe: Boston Fed chief

BankThink

Stress tests Libra Minimum capital requirements Monetary policy Cryptocurrencies Nonbank Leveraged loans Eric Rosengren Federal Reserve Bank of Boston Federal ReserveThe U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says.

Cannabis Startups Expected To Boost Warehouse Rents In Boston, L.A.

PYMNTS

Industrial rents in already-expensive cities like Los Angeles and Boston are expected to get a boost because of weed startups, according to Bloomberg Markets. Real Estate boston legalization Los Angeles Marijuana News Recreational marijuana Rent Retail startups warehouse weed What's HotSpace in those cities will be snapped up as part of a wave of pot legalization that was set in motion when eight states voted to permit cannabis in some form.

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Emphasizing the private at Boston Private

BankThink

Anthony DeChellis’ strategy for staying relevant in a competitive metro market is a little odd — rebuild the private banking business his predecessor shrank — but observers say he might be the executive who can pull it off.

MasterCard Adds Boston To ‘Priceless Cities’ Program

PYMNTS

How can one sum up the history of Boston? And that’s exactly what happened this week after MasterCard named Boston on its list of MasterCard Priceless Cities, a program designed to connect consumers with the city through exclusive access options to popular destinations. Priceless Boston, as it’s officially called, includes partners such as the Boston Red Sox, Boston Pops, Museum of Science, TPC Network golf courses, exhale spa and restaurateur Ken Oringer, to name a few.

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Amazon Same-Day Delivery Expands In Boston

PYMNTS

While there was more conjecture than proof behind Amazon’s apparent decision to exclude a Boston neighborhood from its same-day delivery service, the issue appears to be off the table now. NPR reported that Amazon has agreed to extend same-day delivery to Roxbury, a predominantly black neighborhood of Boston that was previously excluded from the coverage area that already included many other communities in the the vicinity of Roxbury.

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Sephora Launches First Small Concept Store In Boston

PYMNTS

Sephora has announced the launch of Sephora Studio, a new, 2,000-square-foot concept store in Boston that will focus on artistry and skin care services. According to a news release , the opening of the brick-and-mortar Boston location comes on the heels of the company’s largest North American store opening on Manhattan’s 34th Street. The new Sephora Studio debuted on Boston’s famous high-end shopping destination, Newbury Street, on July 21. “In

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Boston’s Bridj Wants Self-Driving Robots To Deliver Goods

PYMNTS

Bridj — a Boston-based transportation startup that acts like an Uber for bus rides and currently serves the Boston, Washington, D.C., and Kansas City areas, now wants to launch a package delivery service that would use self-driving droids to transport packages to a customer’s front door, according to The Boston Globe. Bridj has thousands of riders in the Greater Boston area.

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LA vs. NY vs. Boston: Deals And Dollars Showdown

CB Insights

While Silicon Valley remains the top area for VC-backed startup funding, activity has long since defused to New York and beyond, with LA and Boston seeing a large number of deals and dollars flowing to startups in the region. Below … Continued. Financing & Exits Geographies Los Angeles Massachusetts New York Venture Capital

Mastercard And BJ’s To Offer A ‘Priceless’ Boston Experience

PYMNTS

Boston doesn’t quite make it into the top tier of U.S. A “Priceless Boston” experience that includes an all-frills tour of Fenway Park (and tickets to that night’s game), a NASA astronaut-led session at the Museum of Science and a fishing trip with head chef Ken Oringer from the Toro restaurant. “We’re cities, like New York, L.A. and Chicago, but what it does offer in history, culture and sports draws tourists from across the country.

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SVB Financial to buy Boston investment bank

BankThink

The California company will pay $280 million to buy Leerink Holdings, which focuses on health care and life sciences firms. M&A Integrations Investment banking California Massachusetts

Boston banks bulk up to keep pace with industry heavyweights

BankThink

The added heft will help companies like Independent Bank and Berkshire Hills better compete with the bigger banks that control much of the region’s deposits, and perhaps give them a leg up on other giants, including JPMorgan Chase, moving into the Boston market.

Rinse Clothing Service Raises $14M To Expand To Boston, Chicago And Beyond

PYMNTS

Rinse has a solution for both, and thanks to a $14 million Series B funding round led by Partech, it’s taking that solution to two new cities: Boston and Chicago. Including Boston and Chicago, which could see service as soon as the end of summer, Rinse has plans to expand into 10 new cities in the immediate future and eventually to go nationwide. The dry cleaning industry isn’t working. Customers feel it, vendors feel it— but both parties need it to work.

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Radius Bank in Boston Buys National Equipment Finance Business

American Banker

Radius Bank in Boston has bought a national equipment-finance business from NewStar Financial in Boston. breaking_news community-banking ma dealmaking-strategy

Boston Private lines up next CEO

BankThink

Anthony DeChellis will succeed Clayton Deutsch at the end of this month. Succession planning Career moves Career advancement Community banking Massachusetts

High-Flying Boston Banks Watching for Signs of Trouble

American Banker

Loan growth at several Boston banks, including many former mutuals, is higher than the national average. Still, bankers are closely watching for any indication that a bubble is forming. dealmaking-strategy cre commercial-lending mortgage ma community-banking

Federal Reserve taps Boston Fed COO to head payments task force

BankThink

Payments Faster payments Payment fraud Esther George Federal Reserve Federal Reserve Bank of BostonIn the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system.

People's United adds to Boston operations with BSB purchase

BankThink

The Connecticut regional bank will pay $327 million for the parent of Belmont Savings Bank. Community banking M&A Capital Growth strategies Massachusetts

Checkout.com Expands Global Footprint Into US With Launch of Boston Office

Let's Talk Payments

Ex-Adyen North America President, Peter Caparso, joins Checkout.com to lead US growth Boston, October 3, 2017, 9:00 AM EST – Leading international online payments company, Checkout.com has today announced its. News Payments Checkout news US

Boston Vs. NYC Vs. LA Exits: New York Wins On Quantity, LA On Big Winners

CB Insights

Outside of Silicon Valley, New York has seen the most venture-backed companies exit since 2012, over Boston and Los Angeles. In fact, nearly half, 44%, of all the exits in the three cities over the last five years were for … Continued. Geographies Los Angeles Massachusetts New York

Meridian to bolster Boston-area network with Meetinghouse acquisition

BankThink

Meridian had been looking to expand in certain Boston suburbs before agreeing to buy Meetinghouse Bancorp for $17.8 million. Community banking M&A Capital Massachusetts

Boston Private Profit Off 7% as Wealth Business Slumps

American Banker

Boston Private Financial Holdings on Thursday reported a lower second- quarter profit amid broader declines in its wealth management business. breaking_news performance earnings-community-banks community-banking

Zac Sheffer of Elsen on data analysis and Boston’s thriving fintech scene

BankNXT

Shaun Weston talks to Zac Sheffer from Elsen about data analysis, machine learning, engineering, financial services and the startup scene in Boston. Zac Sheffer of Elsen on data analysis and Boston’s thriving fintech scene on BankNXT. Fintech Podcasts analytics BankNXT Fintech Podcast big data business data entrepreneur interview machine learning sovereign identity

Fed names leader for development of real-time payment system

BankThink

Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years. Real-time payments Faster payments Career moves Federal Reserve Federal Reserve Bank of Boston

Best 41 Fun, Free or Cheap Things to Do and See in Boston, MA

Money Crashers

As the undisputed economic capital of New England, Boston is home to headquarters or satellite offices of major companies such as General Electric,… Best 41 Fun, Free or Cheap Things to Do and See in Boston, MA is a post from Money Crashers. Bostonians are justifiably proud of their city. Founded in 1630, it’s one of the oldest permanently inhabited settlements in the U.S., and boasts an incredible stock of historical architecture to prove it.

HomeStreet to Buy Calif. Branches from Boston Private

American Banker

billion-asset Boston Private Financial Holdings in Boston. The $5.3 billion-asset company said in a press release Tuesday that it will buy two branches in the California markets of Granada Hills and Burbank from the $7.3 breaking_news community-banking m-a consolidation ca dealmaking-strategy

Boston Consulting Group: China ecommerce hits USD 750 bln in 2016

The Paypers

(The Paypers) In 2016 Chinese consumers spent about USD 750 billion online, outspending both US and UK online purchases combined, according to Boston Consulting Group

Seeking CRE (and CRA) Credits, Boston Private Opening L.A. Office

American Banker

Boston Private Financial Holdings is expanding its footprint in California, opening a new office in Los Angeles on June 1. The company will have 35 offices nationwide, including 14 on the West Coast. breaking_news commercial-lending community-banking

Why this bank is struggling to crack the Boston market

BankThink

Webster Financial was unable to hit its loan and deposit goals in Boston last year as it prioritized relationship building over cut-rate pricing. Deposits Branch banking Commercial lending Recruiting

Boston Private to cut costs, sell advisory business

BankThink

The company said it is trying to improve shareholder returns as rising rates cut into its net interest margin. Community banking Revenue and expenses M&A Earnings Massachusetts

How banks can fend off Amazon and Google

BankThink

Banks are right to fear the big tech companies that are eyeing financial services, according to Monish Kumar at Boston Consulting Group, who offers suggestions on how traditional lenders can protect their turf. Disruptors Amazon Google Boston Consulting Group

Revenue Grows, and So Do Expenses, as Webster Expands into Boston

American Banker

lender's expansion into Boston. Webster Financial's profits barely grew in the third quarter from a year earlier, as solid revenue gains were offset by increased costs from the Waterbury, Conn., breaking_news performance ct sailthru-no-lead national-regional

Google Moves In Where Amazon, GE Move Out

PYMNTS

Amazo n and GE may be giving up on New York City and Boston respectively, but Google is taking a different approach, expanding in both cities. Other tech companies with presences in Boston include Facebook, IBM, Microsoft, Akamai and a slew of startups.

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Boston's transit agency approves all-electronic fare upgrade

Payments Source

Boston’s Massachusetts Bay Transportation Authority has approved a $723 million overhaul of its fare system that would eliminate cash payments on buses and trains. Prepaid cards Mobile payments

ICBA President takes on The Boston Globe on cybersecurity

Long Lasting Ideas

Fine put up his dukes so to speak after an article in The Boston Globe published a story contending that small community banks faced the greatest risk from hackers. Continue reading ICBA President takes on The Boston Globe on cybersecurity at Bank Marketing Strategy + Ideas.

Google Gets Back Into Robotics

PYMNTS

As PYMNTS covered in 2017, SoftBank , the Japanese telecommunications company, announced that a subsidiary of SoftBank entered into a definitive agreement to acquire robotics pioneer Boston Dynamics from Alphabet , the parent company of Google. If at first one doesn’t succeed ….

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PNC plans Boston, Phoenix middle-market expansion in 2019

BankThink

PNC revealed the plan as part of its report of strong second-quarter results, and CEO Bill Demchak said it is an example of the regional bank's growth-oriented investments. Earnings Commercial banking Regional banks Middle market William Demchak PNC Financial Services Group Pennsylvania

Digital Health Showdown: New York Overtakes Silicon Valley For Startup Funding, Boston Lags

CB Insights

With products ranging from ingestible sensors to track medication intake to practice management solutions, startups continue to innovate within the digital health space. And as the ecosystem grows, funding is keeping up. Global funding to the industry reached over $3.5B in the … Continued. Financing & Exits Massachusetts New York Silicon Valley