In today’s top payments news, Wells Fargo is trying to revamp its approach to technology to appease regulators, and Goldman Sachs finally launches a mobile app for its online-only bank, Marcus. Also, Karen Webster examines the economics of delivery aggregators.
Wells Fargo has had trouble meeting regulator expectations due to obsolete methods and resources and is trying to revamp its approach to technology to address digital security and regulators’ concerns.
Goldman Sachs launched a mobile app for Marcus on Jan. 8, three years after launching the digital-only bank.
Grubhub stock sank when the firm denied rumors that it was for sale – and started a whole new conversation about delivery aggregator economics and who’s positioned to win. Karen Webster says last decade’s retail transformation holds some clues, as does a close examination of where aggregators pull in their profits.
Application program interfaces (APIs) bring much needed convenience to banks operating a variety of tools needed for daily operations. In the B2B API Tracker, Imran Haider, EVP of open APIs for Wells Fargo, discusses tapping into APIs to offer faster payments, simple account management, and a frictionless experience.
After reporting less-than-stellar holiday sales last week, Kohl’s CEO Michelle Gass defended the retailer’s partnership with Amazon at the NRF show on Monday, Jan. 13, calling its Amazon returns program a significant initiative that helps boost traffic.
Casper Sleep filed for an initial public offering (IPO) on Friday, Jan. 10. The mattress maker faces a lot of competition from an influx of recent startups.
Despite a strong stock market, 40 percent of U.S.-listed companies are reportedly losing money, a level not seen outside of a recession since the 90s. Hardest hit are smaller companies, which are being squeezed out of the market by large companies, reducing competition.