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.

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.

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.

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

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.

Moovit Raises $50M To Expand Operations

PYMNTS

It has used the data to create the Smart Transit Suite of software, an offering aimed at municipalities and transit operators to help them better manage their networks. Public transit app Moovit announced Wednesday (Feb. 21) that it had closed a Series D round of funding, raising $50 million. In a statement on the company’s blog, Moovit said the Series D round of funding was led by Intel Capital.

Dynamics, Sprint Launch Battery-Operated Payment Card

PYMNTS

Dynamics, a unit of telecommunications firms SoftBank and Sprint, announced what it is calling the first battery-powered payment card on Monday (Jan. T he offering, dubbed Wallet Card, was unveiled during the annual Consumer Electronics Show (CES) technology conference. According to a press release highlighting the new product , Dynamics said the payment card will boast fast data breach response and replacement times.

Toys R Us Eyes Liquidation Of US Operations

PYMNTS

operations, currently in bankruptcy, according to recent Bloomberg reports. The plans come as the company has yet — and the emphasis may be on “yet” — to find a buyer for those operations or finalize its debt restructuring plans. toy and game brand entered bankruptcy protection in September 2017, and had planned to refashion both its capital and operating structures — which is typical of such strategies.

Bank Of England COO Joins New Payment System Operator

PYMNTS

The Bank of England’s chief operating officer is joining the U.K.’s s New Payment System Operator (NPSO). The Payment System Operator Delivery Group is closing to hand down operation of the nation’s payment systems to the New Payment System Operator in an effort to streamline the payment ecosystem. Payments Administration (UKPA) to provide support to payment system operators. The NPSO announced news on Wednesday (Feb.

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

Financial Firms Turn To Insurance For Operational Risks

PYMNTS

Cyber crime, cyber attacks and rogue traders have cost banks around the globe a lot of money, and they are increasingly turning to insurance firms to counter those so-called operational risks. According to a report in Reuters , insurers have said they can protect lenders by giving them more expertise on financial and operational risks. In one instance in which that wasn’t the case, Credit Suisse last year sold a bond that was tied to the operational risk of the bank.

Igniting The Operating System For Employer-Funded Healthcare

PYMNTS

In fact, Batniji likened the company’s platform to an operating system that can run other technology. No matter the industry, nearly all U.S. employers are in the healthcare business , a reality reflected on balance sheets, and one that can keep even the most stoic CFO sleepless at 3:00 a.m. And more of those companies are opting for self-funded health insurance programs. The money spent by those employers represents a form of significant control over healthcare.

Chatbots Bringing On Business Operations Revolution?

PYMNTS

Removing the shackles of the traditional 9-to-5 hours typical of a telecommunications customer service center, chatbots seem to be leading the charge for a business operations revolution. Whether someone is buying a product, attending a concert or renting a truck to move furniture, there’s some level of customer service involved. It’s the one major thread running through nearly every business.

SMB Day-To-Day Operations, Digitally

PYMNTS

For the SMB, paper is hard to part with when it comes to improving process flow and optimizing hours spent on a business day to day. In an interview with PYMNTS, Neopost SME Digital Solutions Director Erwan Kernevez said that pain points among smaller firms include the management of inventory spend and time spent dealing with manual processes.

Chef’d Halts Operations After Burning Through Cash

PYMNTS

Chef’d , a the meal-kit operator, has halted its business operations after using up all its cash and failing to line up more of it. Due to some unexpected circumstances with the funding and business, I regret to inform that Chef’d has ceased all operations until our investors and lenders decide the final fate of the company,” the company’s chief technology officer wrote in an email to a supplier Tuesday (July 17), reported the Wall Street Journal.

Maximizing Operational Efficiency

ATM Marketplace

Don't let your aging ATM network cost you more in the long term. For many, the decision to replace or upgrade ATMs is driven by one resounding factor. And that’s cost. But, alongside the initial investment of implementing new technology, shouldn’t you also take into account the cost of not upgrading

Mall Now A Four-Letter Word For Some Operators?

PYMNTS

The Wall Street Journal reports that the “four-letter” word has been getting the boot from … mall operators. Turns out “mall” is a passé, a name, a nomer that hearkens back to the musty days of the 80s. Call them something else, then, it seems. In numerous examples cited by the financial publication, rebranding is afoot. Consider Parmatown Mall, in Parma, Ohio, which has been refashioned as The Shoppes at Parma. Hanover Mall, situated in Hanover, Mass., is now Hanover Crossing.

FTC’s Operation Main Street Helps Protect SMBs From Fraud

PYMNTS

The Federal Trade Commission (FTC) has announced a new law enforcement initiative targeting operations seeking to defraud small businesses. attorneys’ offices and the Better Business Bureau (BBB), the FTC has released the results of Operation Main Street: Stopping Small Business Scams. In partnership with the offices of eight state attorneys general (AGs), the New York division of the U.S. Postal Inspection Service, two U.S.

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Walmart Reshuffles Operations As It Pushes To Stay Competitive

PYMNTS

When the going gets tough, the tough restructure their retail operations in an attempt to better facilitate change. It also announced its plans in February to consolidate buying operations. Well, they do if they’re Walmart anyway. Consolidation is coming to Walmart starting today, when six retail business units will be contracted down to four, according to a recent news release.

Retail Pulse: Chef’d Halts Operations; Gymboree Updates Brand

PYMNTS

The situation seemed to recently come to a head, as the company told employees that it was shuttering its operations. Chef’d Founder and CEO Kyle Ransford reportedly told employees of its decision to close late on Monday (July 16): “Due to setbacks with financing, unfortunately, we are ceasing operations for all employees,” Ransford reportedly wrote in an email to employees.

Key Benfits of Operating Turnkey Payment Business in European Union

Mobile Payments Today

See why many entrepreneurs are operating turnkey payment businesses without the need for a bank license Initiating a financial institution offers many challenges.

Eddie Bauer And Pacific Sunwear Combined In New Operating Company

PYMNTS

After news surfaced in May that Golden Gate Capital was considering a merger of Eddie Bauer and Pacific Sunwear of California , the private equity firm has created a new operating company comprised of the two retailers. A new PSEB Group consists of both brands, which will operate their own independent front ends but benefit from shared services, retail news source Chain Store Age reported. “By

Bitcoin Daily: Alabama Works On ‘Operation Cryptosweep,’ Venezuelan Banks Ordered To Accept ‘Petro’ Crypto

PYMNTS

In other news, the Alabama Securities Commission (ASC) is working on “Operation Cryptosweep” with the North American Securities Administrators Association, AL.com reported. In addition, the operation has caused 47 enforcement actions to come to pass since it started in May. Dash is teaming up with Kripto Mobile to spread its payment system through Latin America, Cryptovest reported.

Digitization Has Yet To Prove Its Worth For Banks’ Trade Finance Operations

PYMNTS

The International Chamber of Commerce (ICC) published its 2018 global trade report this week and, according to the research, global financial institutions (FIs) still have a significant way to digitization in their trade finance operations. ” Traditional trade finance remains the clear priority for banks this year when it comes to their trade finance operations, while 42 percent also pointed to supply chain finance as a focus for this year.

Building, operating and monetizing financial services apps on the IBM Cloud

Insights on Business

As the financial services industry continues to be disrupted by smaller, agile fintech startups, long-established financial institutions are looking for ways to keep pace. One approach to accomplish this is to build, deploy and even monetize next-generation apps on the IBM Cloud.

KQ Operation Pride

Bankelele

What is Operation Pride? Internally at KQ, they have Operation Pride, launched in October last year but, which started in March this year, and which KQ CEO, […]. The post KQ Operation Pride appeared first on Bankelele.

Mall Operators Continue To Struggle With Store Closures

PYMNTS

The earnings announcement comes as mall operators are trying to reboot in an era when the department store is no longer the anchor tenant of choice at many locations and brands like Macy’s and JCPenney continue to shutter brick-and-mortar stores. CBL (another mall operator) warned last week that Q2 would be a particularly weak point in a weak year. Things are looking somewhat better for Simon Property Group than segment watchers were expecting, as revenues clocked in at $1.4

FICO Announces Partnership with Operation HOPE and 200M Open Access Accounts

PYMNTS

The company announced this week its decision to partner with global financial dignity and economic empowerment non-profit organization, Operation HOPE. FICO’s Executive Vice President of its credit scores, Jim Wehmann, commented on the company’s new partnership with Operation HOPE and what it means for its customers: “FICO is excited to partner with Operation HOPE to help consumers with their financial wellbeing.

Operational Transformation – Benefits of Other Delivery Models

Perficient Financial Servies

As a recap, examples of these delivery models include: Software as a Service (SaaS) or remote hosted agreements where the application vendor provides application support and operational services. The ability to focus on strategic objectives instead of routine operational concerns. Data & Analytics Healthcare Integration & IT Modernization delivery models Operational Transformation

Operational Performance and Reliability in the Airline Industry

Perficient Financial Servies

Operational performance (or operational reliability) is about running an airline like a well-oiled machine. Naturally, fewer operational hiccups means better cost efficiency and overall financials. Tim Porter, a director and airline expert at Perficient, said, “Operational performance is a big deal to airlines. They invest billions in this because the cost of irregular operations is huge from both and economic and customer satisfaction point of view.

Free Up Operational Time With Simpler Payment Processes

PYMNTS

Jon Burrell, vice president of operations at international payments platform   Currencycloud ,  takes PYMNTS through the ways firms in B2B and beyond can keep customers happy and the coffers full — even when operating across borders, and all while the clock is ticking. That’s when operational streamlining through financial technology becomes key. Do this day in and day out, and you create operational inefficiencies that may eventually cripple a company.

After A Century, Barclays Steps Back From Africa Operations

PYMNTS

Management stated on the conference call that it had become increasingly difficult to operate within the region, with a slew of financial impacts extending from the region’s capital and regulatory requirements and bank levies (a form of tax).

German Railway Operator Ditches Mobile Ticketing

PYMNTS

Deutsche Bahn , a German railway company, announced plans to abandon its mobile ticketing payment scheme, known as Touch&Travel, due to low adoption and the continuing use of paper tickets. The company introduced mobile ticketing back in 2006 and introduced NFC technology into the system in 2007, but the offering has failed to win over a significant number of consumers.

Samsung Electronics Has Record Operating Profits Thanks To Memory Chips

PYMNTS

Samsung Electronics reported record operating profits for its second quarter , ending in June, and is on track to see record profits for the year thanks to demand for its semiconductors, mobile phones and televisions. Earlier Thursday (July 27), the South Korean consumer electronics company reported operating profits of $12.67 It’s also slightly higher than the operating profit it forecasted in July, reported CNBC.

Remitly Now Operating In All 50 States

PYMNTS

The move on the part of Remitly was prompted by the state giving it approval to operate in Massachusetts. “We’re Remitly, the digital remittance company based in the U.S., has expanded its services to Massachusetts. According to a report , with the addition of Massachusetts, Remitly serves all 50 states in the U.S. and also offers its services in Canada. The Seattle company, which transfers more than $1.5

Managing financial risk with a strong Bank Secrecy Act and AML operating model

Accenture

Banks hoping to build a strong, reliable Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) approach should focus on a number of strategies and actions—including developing an efficient operating model. In our view, a good operating model is essential to.

Paygilant Fraud Tool Reduces Operational Costs For Mobile Wallet Transactions

PYMNTS

Paygilant, the frictionless mobile payments fraud detection company, announced Tuesday (April 4) it was able to show how Citi was able to reduce operational costs associated with mobile wallet transactions. Paygilant said it also introduced an ROI calculator built in conjunction with Citi that reflects how banks can reduce operational costs and save millions of dollars annually by moving transaction validation to the mobile device.

Apple, Others Face Patent Claim From Firm Over Hands-Free, Voice Operated Devices

PYMNTS

The company claims the firms are using its 2002 patent for a hands-free, voice operated, remote-control transmitter, according to a report from CultofMac.com. Apple, Microsoft and Samsung are facing litigation from California-based SpeakWare that accuses the technology firms of patent infringement.

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Bank of America Turns to Electronification of Cash to Reduce Operational Costs

Bank Innovation

Capital Cards Corporate Exclusive Mobile Online Open Fintech Operations Retail artificial intelligence Bank of America credit cards Goldman Sachs Mobile banking Robotics Zelle

Data Enablers: SigOpt’s Machine Learning Tools Help Businesses Optimize Operations

PYMNTS

From some guy’s garage in San Francisco, a group of math nerds has grown into one of the world’s finest-tuned machine learning operations. SigOpt now helps optimize fraud detection and investments like beer brewing and even the manufacturing of synthetic rhino horns. SigOpt cofounder and CEO Scott Clark said that’s because his 14 employees, like the machines they create, never stop learning.