Are legacy companies holding back the future?

Chris Skinner

The reason the latter countries are leapfrogging Europe and America is that they didn’t have a large, ingrained existing infrastructure for payments and financial transactions in place until … The post Are legacy companies holding back the future?

Travelers Companies Now Sends Insurance Claim Payments Via PayPal

PYMNTS

The Travelers Companies, Inc. Auto, property and general liability claims can use Travelers’ link to PayPal for fast and easy reimbursement, the company said in a press release on Wednesday (July 31). The company expects to give PayPal access to workers’ compensation claimants in 2020.

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Alleged CapOne Hacker Might Have Stolen Data From 30+ Companies

PYMNTS

Thompson , who has been accused of hacking into Capital One ’s cloud and compromising the data of 100 million people, may have also hacked into upwards of 30 other companies, according to a Bloomberg report. has revealed how many other companies were targeted. Paige A.

The 10-year-old who runs a blockchain company

Chris Skinner

I often talk about the world changing thanks to young people who can code.

JPMorgan Targets Smaller Companies In Japan

PYMNTS

JPMorgan Chase is introducing a new initiative in Japan, where it is actively vying for business from mid-sized companies, according to a report in the Financial Post.

US Treasury: Taxes On Digital Companies Are Discriminatory

PYMNTS

Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. After a European Union plan for tax reform fell apart, France, along with Britain, Italy and Spain, are moving forward with plans to tax companies like Google and Apple.

Taxes 215

Why shell companies are so risky (and hard to spot)

Insights on Business

Shell companies and the hidden threat of entity risk. While not inherently illegal, shell companies have been getting a lot attention recently for the role they play in illegal activity. And as far as I can tell, “shell company” doesn’t yet have a NAICS code).

Some banks are technology companies

Chris Skinner

I know that systems like Erica, short for Bank of AmErica, are up and running … The post Some banks are technology companies appeared first on Chris Skinner's blog. I was having a chat about Artificial Intelligence (AI) in banking the other day. It was an interesting conversation, although most of the examples were for customer service via Chatbots, which doesn’t impress me much.

Accounts Payable AI Company Stampli Raises $25M

PYMNTS

The artificial intelligence-based accounts payable company Stampli has raised $25 million in a Series B funding round, the company announced Wednesday (Oct. So far, the company has raised $32 million.

WeWork Unloads Business Software Company In Pursuit Of Profits

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WeWork has sold its business management software company Teem and also the minority stake it had in startup The Wing, to focus its business going forward. The real estate company has also been gradually selling off shares in its side ventures as it tries to maximize its profits.

Shell Companies Eyed In Fraud At Aegean Marine

PYMNTS

1) that a probe by international auditors is underway, examining a fraud that could be $200 million in scope at Aegean Marine Petroleum Network , tied to shell companies that ostensibly did business with the shipping fuel firm.

We’re just a technology company that happens to have a banking licence

Chris Skinner

However, there is a massive difference between … The post We’re just a technology company that happens to have a banking licence appeared first on Chris Skinner's blog. I hear this a lot, and don’t like it. Many banks say it these days, and they say it to be cool.

Expensify targets socially-conscious companies with charitable rewards card

Bank Innovation

Expense management startup Expensify is including charitable donations as a perk for its corporate cards. The product, which launched in beta in October, became available to the public this week. It allows employees to make donations to different causes for every purchase they make.

Banks are not technology companies (yet)

Chris Skinner

I’ve been illustrating my frustration with incumbent banks for some time, saying that they lack technology leadership. Almost a third of my new book talks about the biggest challenge for banks to respond to Fintech, Big Data, Cloud, Blockchain and all those other issues is to have leadership.

Fintech companies use holidays to push product usage

Bank Innovation

The holiday season comes with extra expenses for consumers, and financial companies want to help customers budget. While these efforts highlight financial planning and education, they also serve an important business objective, which is to increase user adoption and engagement on platforms.

China To Increase Regulation Of Financial Holding Companies

PYMNTS

China is reportedly looking at new regulations that would impact Alibaba and Ant Financial in an effort to boost oversight of financial holding companies. The aim is to have plans made for a supervision plan for financial holding companies by the first half of next year.

Modern companies need to look beyond the ERP

Mobile Payments Today

As companies use technology to manage their accounts receivables and payables, they need to take a hard look at several factors regarding the solutions they choose to employ

China To Launch Board For Listings Of Tech Companies

PYMNTS

China could be gearing up to take on New York and Hong Kong when it comes to listing technology companies on the stock exchange, publishing draft rules for a startup board that is similar to Nasdaq. curbs on Chinese tech companies and developments.

OpenTable Partners With Food Delivery Companies

PYMNTS

OpenTable, an online restaurant reservation company, has partnered with Caviar, Grubhub and Uber Eats to provide delivery from restaurants all over the country, according to reports. The company has also revamped its mobile interface.

200 Fake Ecommerce Companies Identified

PYMNTS

Spying a fake company is difficult, even for India’s Ministry of Consumer Affairs, which just disclosed efforts around identifying about 200 fake commerce companies. The names of each company have not been released to the public, but the Ministry has escalated the matter up to the Department of Industrial Promotion and Policy (DIPP) for further action. She added that for the next few days, all consumer complaints related to commence companies will be answered via Twitter.

California’s Governor Wants Tech Companies To Share Profits With Consumers

PYMNTS

Gavin Newsom, the governor of California, wants consumers to benefit from the billions of dollars technology companies in the state made by forcing the tech companies to share their profits. According to a report in Fortune citing comments Newsom made during a State of the State speech Tuesday (February 12), Newsom talked up the idea of a so-called digital dividend that would enable the consumers in the state to access some of the profits these tech companies make off of them.

Gojek To Take Strategic Stake In Blue Bird Taxicab Company

PYMNTS

Indonesian delivery app Gojek has announced it will buy 5 percent of taxicab company Blue Bird, in an effort to stay competitive with rivals like Grab, according to a report by Bloomberg. The move would value the company at $600 million.

Biden Wants To Abolish Law That Gives Online Companies Immunity

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Joe Biden, a candidate for president, said he wants to repeal Section 230 of the Communications Decency Act, a law that gives internet companies immunity from harmful content posted by their users, according to a report by Bloomberg.

Amazon Becomes World’s Most Valuable Company

PYMNTS

There’s a new king of the mountain in the seemingly endless tussle between the world’s four largest companies – Amazon, Microsoft, Alphabet and Apple. 7), Amazon passed Microsoft as the largest company by market value, according to reports.

Travelex Cyberattack Could Have Happened At Other Companies

PYMNTS

The vulnerability that allowed Travelex to be attacked by hackers has existed at many other companies and institutions in the U.S., Mursch said cybercriminals discovered a loophole in the VPN and used it to exploit and attack companies. The company did admit Sodinokibi malware was used.

Chatbot Company Sued By Delta Over Data Breach

PYMNTS

In an email through a spokesperson per WSJ , [24]7 Senior Vice President and Acting General Counsel William Bose said, “This has been an ongoing issue between the companies and nothing new has arisen, except that Delta has chosen to litigate this matter.”. Delta Airlines Inc.

New Year, New Mergers Sizzle For Payments Companies

PYMNTS

The company already has scale, having integrated with 15,000 financial institutions in Canada and the United States and recently made forays into Ireland and Spain. Separately, in a deal tied to a “blank check” company, Far Point said it had struck a $2.6

Share Of US-Listed Companies Reporting Losses Nears 40 Pct

PYMNTS

The share of listed companies in the U.S. Some of the industries that are losing the most money include healthcare companies (at 42 percent of the loss-making companies) and tech stocks (17 percent). The hardest hit are smaller companies.

Bridging Banking Gaps For Cannabis Companies

PYMNTS

That brings the tally of enterprises offering financial services to cannabis companies to 375 banks and 111 credit unions. Cash is expensive for these smaller companies to handle, said Hart, “very expensive, and operationally very limiting.”.

HSBC Streamlines Inter-Company Bank Accounts

PYMNTS

Consolidating multiple bank accounts into a “handful,” or into a single account for each currency a company uses, reduces friction associated with managing cash across hundreds of accounts, and reduces the need for treasurers to complete complex cash sweeps and pools, HSBC noted.

Was Noodles & Company Breached?

PYMNTS

Restaurant chain Noodles & Company is probing a credit card breach that is said to have hit several of its 500 stores. Our investigation is ongoing, and we will continue to share information,” Noodles & Company said in a statement. The fraud attack occurred as the Broomfield, CO-based company was in the process of testing and implementing EMV technology — a situation which many businesses around the U.S. Security & Fraud Noodles & Company What's Hot

NYC Lawsuit Targets Online eCigarette Companies

PYMNTS

Part of the request also involves a mandate that these companies put in age-verification systems, alleging that even when ages lower than the legal limit were entered, people could still purchase the vaping products.

Temenos Chief Strategy Officer Leaves Company

Bank Innovation

Ben Robinson, chief strategy officer of Temenos, has left the company. Robinson was a key member of Temenos’s innovation operation, taking a leadership role, among other responsibilities, in managing Temenos’s engagement with the fintech startup ecosystem.

Comcast Buys AI Cybersecurity Company BluVector

PYMNTS

Comcast announced Monday (March 4) that it has acquired BluVector, a company that uses advanced artificial intelligence and machine learning to provide cybersecurity protection to companies and government agencies.

European Banks Want More Regulation Of Large Tech Companies

PYMNTS

Some of the biggest banks in Europe are urging regulators to increase oversight of large technology companies that are moving into the financial services market. technology companies will choose to go only after the best parts of the financial services market. She doesn’t mind taking on tech companies but wants its to be on the same terms. The banks are concerned that opening their data in Europe will not give them the same access to the large tech companies in the U.S.

Blockchain-for-Data Company Factom Raises $4.2M

Bank Innovation

Doing it, moving on: Blockchain-for-data company Factom Inc. Some words that should no longer surprise you, because this technology is only growing stronger: in blockchain news, there’s a new player on the block… chain. has just raised $4.2M

Customer Feedback Company HappyOrNot Notches $25M

PYMNTS

The company produces hardware to record if customers are satisfied by allowing them to tap a face and software to analyze the data, according to reports. Reports noted that when the company last notched funding of $14.5 million in 2017, the company had 3,000 customers.

CrowdStrike Details High-Level Aviation Company Hack

PYMNTS

Crowdstrike , a cybersecurity company, recently released a report that an unidentified company in the aviation industry was significantly hacked through last year and this year, according to a report by CNBC.

Cybersecurity Company Finds TikTok Was Vulnerable To Hackers

PYMNTS

A different security vulnerability would allow for malicious actors to get a person’s private info, like name and contact information, from the company’s own site. .

The Struggles of Banks as Technology Companies

Bank Innovation

It's a common refrain from bank CEOs -- "My bank is a technology company." But the reality is much rarer. JPMorgan Chase is showing it takes fintech seriously by building (or buying) a Silicon Valley campus, which will house 1,000 employees, including 250 from recently acquired WePay.

Noodles & Company Launches Loyalty Program And App

PYMNTS

Noodles & Company unveiled its new NoodlesREWARDS program on Wednesday as a way to say “thank you” to its loyal customers and encourage them to bring new ones into the fold. Noodles & Company serves classic noodle and pasta dishes from a variety of cultures: Italy, Thailand, Korea, Japan, Central America and the American Midwest, to name a few. Surprise noods? Who would say “no” to that?

Lightspeed China Partners Raises $560M To Invest In China Tech Companies

PYMNTS

The company said it is the largest fund family raised by Lightspeed China Partners to date and brings the capital under management to $1.5 Investments china China tech companies internet investments Lightspeed China Partners News What's Hot

Most companies are unprepared for a cyberattack

Chris Skinner

This is the second Hiscox Cyber Readiness Report, conducted by Forrester Consulting, and puts the spotlight not only on the financial consequences of individual cyber breaches but also on the enormous cost in … The post Most companies are unprepared for a cyberattack appeared first on Chris Skinner's blog. I was looking around at what’s new online, and just discovered the Hiscox 2018 Cyber Readiness Report.