Lithuania Suspends SatchelPay Operations

PYMNTS

6) that the nation’s central bank has suspended the company’s activities because it allegedly failed to provide the government with required financial data on its operations this year.

Deutsche Bank To Overhaul Trading Operations

PYMNTS

Deutsche Bank has announced that as part of a complete overhaul of its trading operations it’s creating a non-core asset unit, or “bad bank,” to house tens of billions of euros in assets, according to a report by the Financial Times.

What’s holding you back from modern banking operations?

Accenture

In the first of a four-part series, our team of guest bloggers will share how getting to simplified, future-ready bank operations may be more easily imagined. . However, banks are unable to support this if they do not modernize their operations.

Careem Concludes Operations In Sudan

PYMNTS

Less than a year after the ride-hailing company rolled out in Sudan, Careem has concluded its operations in the country, with a planned takeover by Uber on the horizon. However, the report noted that ride-hailing apps like Tirhal do operate in the country.

Gearing Up New Operations

Independent Banker

When Leto took the executive helm last year of Bryn Mawr Trust’s parent company, it was operating a very small insurance agency that was hardly making money. “We General Highlighting Operations & Management

Aussie FinTech 3Pay Launches Invoice Finance Operations

PYMNTS

Australian FinTech 3Pay has launched operations, connecting businesses to an invoice financing solution designed to support cash flow and prevent small businesses from being placed on hold by their B2B suppliers.

PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant.

Operant Calls for Consortium to Improve Debt Collection

Bank Innovation

Operant Founder and CEO Allan Fisch said at a meetup yesterday at Bank Innovation’s headquarters in New York that a consortium would allow the FIs to contribute anonymized data on the performance of their third-party […]. Toronto-based fintech Operant.AI

JPMorgan Consolidates SMB, Enterprise Payment Operations

PYMNTS

JPMorgan Chase is planning the consolidation its corporate payment operations by combining small business (SMB) and large enterprise solutions, the Financial Times ( FT ) reported on Thursday (Jan.

Boost efficiency through operational innovation in financial services

Insights on Business

Operational innovation is vital in a highly competitive financial services sector, with a new community of digital banks and other firms vying for market share. Drivers for Operational Innovation. People are at the heart of any financial operation.

On-Demand Delivery Service Munchery Ceases Operations

PYMNTS

Munchery , the on-demand delivery startup that raised $125 million in venture funding, has shut down the service effective immediately.

Restaurant Operator Blames Bankruptcy On Wage Hike

PYMNTS

an eatery operator with 35 restaurants, has filed for bankruptcy and is blaming the misfortune on a recent minimum wage hike in court filings, according to a report by Bloomberg. Restaurant Unlimited Inc.,

Ready Or Not, Faster Payments Will Impact Corporate Operations

PYMNTS

“We are seeing, what I think is, an unprecedented amount of change that is being proposed and introduced in terms of [payment] operations,” he told PYMNTS in a recent interview, emphasizing that his remarks are his personal viewpoints, and not those of WesPay or the Center for Payments.

Sinemia Shuts Down U.S. Operations Amid Lawsuits

PYMNTS

operations. In a letter on its webpage, Sinemia said it was ending operations in the U.S. operations,” Sinemia wrote in the letter. Sinemia , the movie theater subscription service that tried to take a page from MoviePass, is shuttering U.S.

Three success factors in security operations

Insights on Business

The model delivers better customer experiences, creates operational efficiencies, and can lead to new revenue sources. They are looking for end-to-end security operations that are flexible and scalable, data-driven and applied with automated, operational accuracy.

Walmart Promotes John Furner To President, CEO Of U.S. Operations

PYMNTS

Walmart has announced the departure of Greg Foran , president and CEO of Walmart U.S. His replacement with be John Furner , who currently serves as president and CEO of Sam’s Club. Furner has worked under Foran for the last five years.

Link, ATM Operator Face Potential Court Fight

PYMNTS

NoteMachine , one of the biggest ATM operators in the U.K., A Link spokesman declined to comment on the fight with NoteMachine , but Link chief operating officer Sue Wallace wrote in an email seen by The Financial Times that the company “strongly” rejects the contention. “It

ATM 181

Mastercard Names New President Of Canadian Operations

PYMNTS

Mastercard announced on Thursday (May 30) the appointment of Sasha Krstic as president of the company’s Canadian operations. In a press release , Mastercard said Krstic will head up customer relations, product development and sales as the company aims to drive electronic payments in Canada.

Snap Lets Select Accounts Operate In-App Stores

PYMNTS

Snap , the maker of the disappearing messaging app Snapchat, is rolling out new tools to enable select accounts to operate a store within Snapchat.

Mumbai Bus Operator To Test India’s National Transit Card

PYMNTS

India’s One Nation One Card will be test-piloted with Mumbai bus operator BEST in November, NFCWorld reported on Tuesday (Aug. The national transit card system uses a bank-issued card that will run on India’s RuPay payments network, the news outlet said.

Rethinking the operating model: How a global bank accelerates transformation results

Insights on Business

Business model innovation only just begins once you’re on the cloud—and the leading global banks are already making the move and are now exploiting cloud for innovation – and while they do that, they are having to rethink their operating models.

Bain Capital Hires Keri Gohman As An Operating Partner

PYMNTS

Bain Capital Ventures announced it has hired FinTech industry veteran Keri Gohman as an operating partner. Gohman will work across the firm’s FinTech portfolio to provide strategic counsel, as well as partner with leadership teams to boost business growth.

MasterCard strengthens ties to mobile network operators

Mobile Payments Today

The Purchase, New York-based card network has already helped MNOs such as Vodafone Ukraine, Digicel Group in the Caribbean, Viettel Telecom in Vietnam and Taiwan's Chunghwa Telecom to roll out various services related to digital payments

How do systemic approaches to IT operations impact the business culture?

Dataconomy

How are dynamic IT operations affecting company culture? What do businesses need to understand about data driven AI to successfully drive their operations into the future? The post How do systemic approaches to IT operations impact the business culture?

Mastercard Names New President For Canadian Operations

PYMNTS

Mastercard, the payments company, announced Thursday (May 30) the appointment of Sasha Krstic as president for the company’s Canadian operations.

Farmhouse Market’s Remotely Operated, 24/7 Grocery Store

PYMNTS

The pair ultimately designed a concept that could operate without any on-site staff to solve this quandary. “We Kendra Rasmusson said it operates under a strict “one strike and you’re out” policy — any member caught stealing is banned from the store.

Investors Upbeat On Shopify’s ‘Global Retail Operating System’

PYMNTS

COO Harley Finkelstein, in a post-earnings interview with MarketWatch , said that strong outcomes were seen across the board from the firm’s efforts to transform itself from a software platform for digital and physical retail into “the first global retail operating system.”.

Clinical Operations Teams Benefit from Oracle Cloud Siebel CTMS

Perficient Financial Servies

Life Sciences clinical operations cloud Cloud Siebel CTMS Oracle’s Oracle’s Cloud Siebel CTMS Siebel Siebel CTMS

California man faces life for illegally operating a Bitcoin ATM

ATM Marketplace

A 25-year-old Westwood, California man has agreed to plead guilty to federal charges for illegally operating a crypto exchange and a bitcoin ATM where he laundered up to $25 million in cash and crypto for individuals, including drug dealers

Bank Expenditure Operational Risk

Banker to Banker

Operational risk gets the short shrift in banking. Credit and interest rate risk are the big men and woman on campus (just to throw in a back to school metaphor) while operational risk is usually relegated to the shallow end of the pool.

UK’s Deliveroo Will End Operations In Germany

PYMNTS

Deliveroo, the British food delivery service, said it will end its operations in Germany and shift its focus to other markets. After merging its customer and restaurant operation teams earlier in July, Just Eat went through a round of layoffs in the U.K.

Mayzus Financial Now Operating as Money Polo

Mobile Payments Today

The co-owners of a large FX business numbering about 40 thousand active clients-traders turned to us with the task to create a single payment service for the purpose of minimization of expenses for operations

SoftBank’s New ‘Operating Group’ Encourages Startup Collaborations

PYMNTS

In an effort to create a relationship between its portfolio of investors, SoftBank has created an “operating group” within its Vision Fund. For both funds, the operating team is tasked with advising startups on growth strategies, hiring, procurement and international expansion. “We

Deep Dive: How Restaurant Operators Are Driving mPOS Evolution

PYMNTS

Recent research indicates that restaurant operators are no longer interested in taking a back seat when it comes to industry evolution, and instead want to be active participants as new POS and payment options are unveiled. Impacts on Day-to-Day Operations.

Verizon Buys Drone Operator

PYMNTS

In a press release , Verizon said Skyward, which is based in Portland, adds drone management to the Verizon IoT portfolio, making drone operations easier to manage for any size company. companies rely on Skyward to manage drone operations, improve safety and lower operating costs. With the deal, businesses small and large can turn to Verizon for integrating, managing and wirelessly connecting their drone operations.

Fed Seeks Comment On New Operating Hours For Fedwire Funds

PYMNTS

13, 2018, NACHA , the rules and standards body for the ACH network, announced that its voting members had approved amendments to the NACHA Operating Rules & Guidelines to establish a third Same Day ACH processing and settlement window,” the Federal Reserve wrote in the announcement.

Jollypay Gets License To Operate In The UAE

PYMNTS

Online payment system Jollypay has received a license to operate in the United Arab Emirates (UAE), and it’s one of the first foreign companies to do so, according to a release. . Our long experience in the Arabic market, specifically in the UAE with Jollychic, has given us the push to develop more technical mechanisms to serve the Arab and Emirati user and to provide easy and secure e-payments,” said Jollypay Chief Operation Officer Liu Yang. “In

Facebook Users Unfriending The Social Media Operator

PYMNTS

Facebook is losing its luster with some of its customers, as Pew Research finds that a “significant” share of its users have changed their relationship with the social media network during the past year. According to the report , 42 percent of Facebook users have taken a break from the platform during the past year, while 54 percent of those 18 and older told Pew Research they have adjusted their privacy settings during that timeframe.

Alsea Will Operate Some Starbucks Locations In Europe

PYMNTS

While Starbucks aims to streamline its operations in places that are seeing challenges with sales, the coffee chain plans to give a longtime partner the rights to operate cafes in four European markets.

Sage Sells Off US Payroll Operations In Cloud Push

PYMNTS

However, the company has been investing more into its cloud operations as of late. Small business (SMB) cloud solutions provider Sage is refocusing away from payroll as it divested its U.S. assets for $100.3 million, Reuters reported on Tuesday (Jan.

Big US Mall Operators Look To Sports Entertainment For Growth

PYMNTS

But operators of some of those shopping destinations continue to wield investment power as malls undergo remakes for the 21 st century. is still operating, but renovations will start later this year. Malls are not exactly the hotspots of coolness and retail activity they once were.

Three Crypto Operators Sued By US Regulator

PYMNTS

In the latest sign of regulatory action in the virtual currency realm, the Commodity Futures Trading Commission (CFTC) has filed a lawsuit against three virtual currency operators, with allegations that the trio had defrauded customers. In addition, the regulator charged, the three operators broke laws governing commodity trading. The newspaper noted that these are the first actions that come against operators since bitcoin futures were launched in December of last year.

Respond Software Closes $20M In Funding To Boost Operations

PYMNTS

The company, which develops Robotic Decision Automation (RDA) software for security operations, will use the funds to boost operations, and expand customer success teams across the globe. “We