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Passport, the technology business for city transit systems, raises $43 million

PYMNTS

Passport, company that’s managing much of the technical aspects of how people pay to use public transportation resources in cities like London, Miami and Los Angeles, has just raised $43 million. Read More.

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Bankruptcy-Bound Firms Grant Hefty Exec Bonuses

PYMNTS

The payments usually have to do with senior managers retaining their roles while the company goes through reorganization. Tom Krasner , of Miami-based fund manager Concise Capital, said the payments are unwarranted. “If Whiting Petroleum , put into a bind by the energy downturn, has also done so.

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Glossier Brings Shops To Nordstrom

PYMNTS

The beauty brand has launched pop-up shops in cities such as Austin, Miami, Boston and London, but its success has primarily been in online sales of its lotions, lash products and soft, pink-colored lip balms since its 2014 inception. fragrance sales.”.

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Banks Bring Coffee Shops To New Branches

PYMNTS

With the bank branch of the future, large institutions such as Capital One and Fifth Third are aiming to create spaces that appeal to millennials around Chicago that provide technical support, financial advice and — in some instances — cappuccino. By the same token, Capital One has brought three Capital One Cafes in Chicago.

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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

For example, as reported by Forbes, auditor Grant Thornton wrote that “management believes” it can meet its financial obligations through February 2021. We see interest grow when we launch in new markets — 161 to date — and when we launch new Car Vending Machines (currently in 24 cities); our most recent being Miami,” said Keeton.

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FIs Embrace FinTech Options To Bolster Business Banking

PYMNTS

Reports in NS Banking said the partnership is part of Virgin Money's SME Wellness Tracker, a financial management portal staged for launch later this year. Miami-based Apollo Bank is turning to a third-party FinTech to strengthen its corporate payments and treasury management offering.

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