RetailWit

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RetailWit's articles

  1. Trends & External Forces

Fraud Becomes a Bigger Cost of Running a Neobank

Neobanks are spending far more on fraud prevention even as their fraud losses continue to rise. Fraud prevention spending among neobanks, digital-only banks and FinTechs jumped 357% in a year, from $1.8 million to $8 million per institution, according to the PYMNTS Intelligence report “Scams Get Personal: Why Banks Pay More to Fight Fraud”. Average […]
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  1. Channel: Ecommerce & Digital

UPS Trims Seasonal Hiring After Planned Package Volume Reduction

UPS is hiring 100,000 seasonal employees in hundreds of locations across the United States to meet the demand of the upcoming holiday shipping season, the company said in a Wednesday (Oct. 7) press release. These seasonal employees will join UPS’s global workforce that numbers around 460,000, according to the release. The number of seasonal employees […]
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  1. Department: Nonfood

Community Banks Sue OCC Over Crypto Trust Bank Charters

The Independent Community Bankers of America (ICBA) has taken its long-running fight against special-purpose crypto banks to federal court. In a lawsuit filed Friday (Oct. 2) in federal district court in Washington, the ICBA argued that the Office of the Comptroller of the Currency (OCC) is allowing cryptocurrency companies to obtain the benefits of national […]
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  1. Trends & External Forces

U.S. Bank Debuts Service to Help Clients Spot Identity Threats

U.S. Bank introduced a service called Project 360, designed to help customers protect their privacy, according to a Wednesday (Oct. 7) press release. Project 360 lets users monitor credit activity, identify threats to their privacy and respond when personal info might be exposed, per the release. “Fraud, scams and the exposure of personal information have […]
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  1. Data & Insights

AI Can’t Fire You in California Without a Human

California employers will soon need a person to stand behind any artificial intelligence-driven decision to fire or discipline a worker. Gov. Gavin Newsom signed SB 947, the No Robo Bosses Act, on Sept. 30 as one of 13 bills that day, according to the governor’s signing announcement. The law bars employers from relying only on […]
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  1. Corporate Strategy

Chase Adds Payroll to Larger Business Banking Offering

Chase is expanding its payroll service to help business clients dealing with cash flow pressures. The new offering, announced Wednesday (Oct. 7), brings Chase Payroll alongside the banking and payment activities business customers already manage through the lender. “Small business owners are constantly balancing employees, customers, expenses and cash flow,” Stevie Baron, CEO of Chase […]
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  1. International

Student Lender Mpower Shutters Following Immigration Crackdown

Mpower Financing, an American lender focused on loans to international students, is reportedly shutting down. That’s according to a report Wednesday (Oct. 7) by Bloomberg News, which calls this one of the biggest corporate implosions related to President Donald Trump’s immigration crackdown. According to the report, Mpower had been relying heavily on students from African countries like Zimbabwe, a […]
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  1. Department: Consumer Durables

Google and Unity Team to Let Users Build Their Own Games

Google plans to launch an artificial intelligence (AI)-powered gaming platform in partnership with video game company Unity. The partnership is designed to “put game creation in the hands of millions of new creators, and bring new experiences to billions of players worldwide,” Google said in a Wednesday (Oct. 7) news release. “Google and Unity share […]
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  1. Department & Category

Used Car Prices Poised to Dip Amid High Gas Prices

New Cox Automotive projections show used car prices dipping more than previously expected. The forecast from the automotive industry data solutions company Wednesday (Oct. 7) comes as consumers continue to exhibit declining sentiment amid high interest rates and gas prices. Cox says it has lowered the year-end outlook for its Manheim Used Vehicle Value Index, expecting it to finish […]
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  1. Corporate Strategy

Revolut Pays for New Customer IDs After September Data Breach

Revolut’s CEO for Western Europe, Béatrice Cossa-Dumurgier, said the company will pay the cost of new identity documents for customers impacted by the data breach Revolut disclosed in September, Reuters reported Wednesday (Oct. 7). During an interview with BFM TV, Cossa-Dumurgier said, per the report: “If they ever have to change their ID documents, we’re […]
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  1. Channel: Ecommerce & Digital

Consumer Spending Still Defies Gravity, Luxury Retail Winners and Losers & Untangling AI Shopping Agents

Consumer Spending Still Defies Gravity, Luxury Retail Winners and Losers & Untangling AI Shopping Agents
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