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?

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 216

Trump Campaign Used Shell Companies For Ad Buys

PYMNTS

Truthout is reporting that the Trump 2020 campaign paid shell companies related to ad buyers who are part of a purported unlawful coordination plan with the National Rifle Association (NRA). The companies all use the same storefront and hire a lot of the same ad buyers.

eCommerce Box Companies Aim To Enhance Hotel Stays

PYMNTS

Some entrepreneurs are inspired to start companies to solve a problem they have experienced in their own lives: GuestBox Founder and CEO Shuchi Vyas, for instance, was an Airbnb host and struggled to wow her guests with offerings beyond just the basics.

Forrester finds financial companies top retailers in customer experience

Bank Innovation

Although banks are not known for exceptional customer service, a Forrester Research survey released this week shows they’re making progress.

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.

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.

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

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.

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.

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.

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.

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.

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.

Data Leak Discovered In Marriott’s Management Company

PYMNTS

A cybersecurity research team at vpnMentor has discovered that The Pyramid Hotel Group, which manages Marriott and other hotel brands, underwent a data leak exposing vulnerabilities that could potentially be used by criminals, the company said in a report.

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.”.

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.

Most Efficient Bank Holding Companies

BankThink

Performance reports Ranking the banks Banks, thrifts and holding companiesYear to date through Dec. 31, 2018. Dollars in thousands.

Google Pays $2.6B For Data Analytics Software Company

PYMNTS

Google’s parent company Alphabet announced on Thursday (June 6) that it is buying data analytics company Looker for $2.6 The company’s cloud computing sector trails Amazon’s and Microsoft’s when it comes to revenue and methods.

Bank Holding Companies with the Most Employees

BankThink

Workforce management Ranking the banks Banks, thrifts and holding companiesFull-time equivalent, as of Dec. 31, 2018. Dollars in thousands.

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.

How FinTech Companies Inspire Africa With Mobile Technology

PYMNTS

According to the London Stock Exchange Group’s 2019 “Companies to Inspire Africa” report, which highlights these firms, the FinTech sector has the second highest growth rate representation of technology and telecoms as well as financial services.

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.

Business Expense Card Company Pleo Raises $56M In Funding Round

PYMNTS

Danish FinTech company Pleo, which touts a “business spending platform” that simplifies the expense management process for employees, has raised $56 million in a series B funding round, according to a report by TechCrunch.

Italy Antitrust Authority Investigating Five Amazon Companies

PYMNTS

The Italian Competition Authority (ICA) has launched an investigation into five separate Amazon outfits to determine whether the company is taking advantage of its position as the foremost logistical and eCommerce service, according to a report from Reuters.

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

African Companies Foreign Listings

Bankelele

The listing of Jumia on the NYSE has elicited many discussions about how ‘African’ it is to qualify for the moniker of “first African tech IPO” London has been the listing home of many large African companies in the oil, gold, mining space for many years. The post African Companies Foreign Listings appeared first on Bankelele.

26 Unicorn Companies That Exited In 2018

CB Insights

From e-commerce to software to payments, several companies with $1B+ valuations exited in 2018. Get an excel file that has investor, total funding, industry, and other info for private companies valued at $1B+. Below are more details on the companies, ranked by exit valuation.

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

Why Aren’t Fintech Companies Going Public?

CB Insights

Only 3 fintech companies went public in 2018. With more and more late-stage capital coming into startups, companies don’t need to submit themselves to public scrutiny and markets in order to fund their operations. The post Why Aren’t Fintech Companies Going Public?

Drone Company Flytrex Secures $7.5 Million

PYMNTS

The company received $3 million in Series A funding in June 2017, bringing the total raised to $10.5 The company also partnered with online marketplace Aha in 2017 to debut an on-demand delivery service in Iceland’s capital, Reykjavik.

Snap Seeks Ads From Pharmaceutical Companies

PYMNTS

In an effort to have big pharma companies advertise on Snapchat , the social media platform is reportedly pitching itself as a friendlier alternative to Twitter and Facebook. The social media company had a team speak at the DigiPharma Connect conference in February.

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

When An 110-Year-Old Company Needs A Digital Upgrade

PYMNTS

The company still specializes in glass, though hand-cutting and etching have given way to more modern methods of sand etching, color screening, laser etching and rotary engraving. Suddenly, the company had gone from debating the best rollout to scrambling to get up and running.

5 Fintech Companies to Watch in 2019

Bank Innovation

Here are Bank Innovation's 5 companies to watch this year, selected by editors' choice, in no particular order: PayPal This payments […]. Acquisitions, partnerships and the roll-out of various new products and services made 2018 a very active year in banking and fintech.

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.

CoinAcquiring Targets Crypto Companies’ Banking Services Gap

PYMNTS

consulting company providing fiat-to-crypto payment processing services, now supports the opening of bank accounts for companies in the sector, a particularly challenging process for many firms, according to CoinAcquiring Senior Payments Consultant David Jones. The company did not indicate which financial institutions are part of its partnership ecosystem, however. CoinAcquiring is rolling out a bank account service targeting businesses in the cryptocurrency industry.

Groupon Co-founder Snags $200M For Genomic Testing Company

PYMNTS

Groupon Co-founder Eric Lefkofsky’s new company has raised another $200 million in funding. Founded in 2015, the company has raised $520 million in funding so far. Tempus announced the new financing at a value of $3.1 billion.

How Chinese Companies Are Handling Tight Regulations

Bank Innovation

Chinese insurance company ZhongAn Online Property and Casualty Insurance, which boasts a customer base of 500 million people, has obtained approval to open an initial public offering (IPO) on the Hong Kong stock exchange.

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?

Indonesian Company Bukalapak Will Likely Receive New Funding

PYMNTS

Bukalapak, an online marketplace company from Indonesia, will soon announce a new round of funding, according to reports. Bukalapak’s biggest shareholder is Indonesian media company Emtek, which had a 36.86 percent stake in the company in September of 2018.

BI 2018 to Announce DEMOvation Companies

Bank Innovation

Bank Innovation will announce the companies participating in our 2018 DEMOvation Challenge later this week. The companies and details of the challenges will be announced tomorrow, at 10 AM ET, on the @BankInnovation Twitter.

Highest Loan/Deposit Ratios Among Bank Holding Companies

BankThink

Ranking the banks Banks, thrifts and holding companies Deposits LendingYear to date Dec. 31, 2018. Dollars in thousands.