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.

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.

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.

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.

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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.

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

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.

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.

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.

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.

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.

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.

How FinTechs Help Companies Tap Into Emerging Technologies

PYMNTS

As part of that awareness, companies across all industries are realizing the strategic value of accounts payable (AP) automation and developing an understanding of emerging technology like artificial intelligence (AI) that plays a critical role in AP automation solutions.

Amazon, Tech Companies Unveil Voice Interoperability Initiative

PYMNTS

Over 30 companies are supporting the effort, with the inclusion of global brands such as Amazon, Salesforce, Sonos, Spotify, Bose and Baidu, among others, according to a Sept. It’s exciting to see these companies come together in pursuit of that vision.”.

Pitney Bowes Is Latest Company Hit In Ransomware Attacks

PYMNTS

Shipping and technology behemoth Pitney Bowes is the latest in a string of high-profile companies to be hit in a cyberattack. TechCrunch reported that the company was hit with a ransomware attack. The FBI recently warned that “high impact” attacks would be hitting large companies.

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.

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.

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.

Bank Holding Companies with the Largest Consumer Loan Portfolios

BankThink

Consumer lending Ranking the banks Banks, thrifts and holding companiesOn Jun. 30, 2019. Dollars in thousands.

Bank Holding Companies with the Largest Credit Card Loan Portfolios

BankThink

Credit cards Consumer lending Ranking the banks Banks, thrifts and holding companiesOn Jun. 30, 2019. Dollars in thousands.

Bank Holding Companies with the Largest Business Loan Portfolios

BankThink

Commercial lending Small business lending Ranking the banks Banks, thrifts and holding companiesOn Jun. 30, 2019. Dollars in thousands.

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.

Brazil Court: Uber Drivers Independent Of Company

PYMNTS

A superior court in Brazil has decided Uber drivers are independent from the company, according to a report by Bloomberg. The decision reinforces more than 250 lower-court decisions in Brazil saying there’s no labor tie between Uber and its drivers,” the company noted.

Commercial Bill Pay Company Plastiq Now Usable By Visa Cardholders

PYMNTS

Commercial bill pay company Plastiq has announced that starting on Wednesday (Aug. Visa commercial cardholders will be able to use the Plastiq to pay vendors, even if they don’t accept credit cards, the company said in a release. .

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.

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.”.

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.

Alphabet-Owned AI Company DeepMind Owes £1B 

PYMNTS

DeepMind , an artificial intelligence company based in London that Google bought for £400 million ($486 million) in 2014, is deeply in debt and owes its parent company, Alphabet , upwards of £1.04 The company’s losses also grew from £302.2 Both companies are owned by Alphabet.

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.

KYB, Shell Companies And Pot Payments Gone Rogue

PYMNTS

According to a new lawsuit, though, one company allegedly found a way around that. According to the lawsuit, Eaze allegedly got around that problem by processing payments thru a series of off-shore shell companies.

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.

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.

40 Companies Hit With Subpoenas After MyPayrollHR Scandal

PYMNTS

The move is a response to the sudden collapse of MyPayrollHR , a New York company that suddenly closed and left some of its 1,000 corporate customers and their employees without pay. One of the largest payroll companies, ADP Payroll Services , is currently licensed in New York with DFS.

How B2C Companies Tap Into Integrated Receivables

PYMNTS

Companies in the business-to-consumer (B2C) space have historically relied on lockbox processing through a bank – or a series of banks, depending on their size. But in other cases, the companies may want an individual consumer to make those transactions.

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

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.

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.

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

Study Finds Trucking Company Bankruptcies Increased In 1H 2019

PYMNTS

While a significant number of trucking companies have gone out of business, there are trucking shortages and rising wages. USA Today noted that in the midst of a shortage, extant companies would likely want to service larger companies first, which would have a trickle-down effect.

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New Cannabis Holding Company Led By PRØHBTD CEO Raises $25M

PYMNTS

A cannabis consumer goods and marketing holding company led by PRØHBTD CEO and Founder Drake Sutton-Shearer has launched with $25 million in funding, according to a Sept. The company’s flagship PRØHBTD recently launched an immersive website that integrates content and eCommerce. “I’m

US Companies Scramble To Comply With Impending CA Privacy Law

PYMNTS

Passed in 2018, the law dictates that consumers in California have the prerogative to access any and all personal data that a company has on them and request that it be deleted and not sold. Now companies are scrambling to meet the requirements by the time the law takes effect.

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