Mastercard tests new payment options for shared working spaces
Mastercard and WeWork are creating a digitally-connected environment at WeWork 600 California Street in San Francisco by deploying Internet of Things (IoT) technologies that will reshape how people live, work and play.
Mastercard is adding two new solutions to areas within WeWork 600 California Street to create a seamless and fully digitized experience for WeWork members:
A metered payment capability for WeWork hot desks. Members are automatically charged for only the amount of time they actually use the desk. This pilot solution, powered by the Cisco Kinetic IoT data platform, makes the process seamless and cost effective to members. At the same time it allows WeWork to create more flexible offerings and apply pricing based on real-time utilization of WeWork desk space.
A frictionless retail experience in WeWork’s Honesty Market that leverages AVA SmoothShop from AVA retail and offers WeWork members the ability to purchase any item from the market without having to pull out a physical or digital wallet for payments.
Each of the solutions leverages a variety of Mastercard technologies such as digital payments, analytics, security, and loyalty, and bundles them with specialized IoT hardware and cloud software from leading technology players and innovative startups.
“The vision is to create a work environment that can be personalized and where access to facilities, equipment and supplies is seamless without sacrificing security,” said Sherri Haymond, executive vice president, Digital Partnerships, Mastercard. “We partnered with WeWork because it shares our vision, and its shared spaces enable us to gain real-time insights into the effectiveness of the products and to understand just how people are interacting with the technologies.”
AccessPay launches cash management tool BankSense
Already established as a leading provider of efficient and secure b2b payments solutions, Manchester fintech firm AccessPay is scheduled to launch a ground-breaking new business area.
BankSense is a real-time cash management and analytics tool aimed at treasurers of global corporations.
The innovative product not only gives treasurers one point of access to their entire banking universe – agnostic of global region – but goes further by giving them the ability to view cash positions in real time, by bank, by region, and legal entity.
Treasurers are then able to deploy cash moves across their accounts to optimise the value on their company’s capital.
BankSense will formally launch at EuroFinance in Barcelona this week.
The meeting of minds represents the world’s leading international treasury event, with keynote speakers from some of the largest global corporations spanning sectors as diverse as music, automotive, energy, and banking.
Navient acquires online student lender Earnest for $155 million
“Combining Earnest’s best-in-class data science, digital marketing, and technology with Navient’s industry and capital markets experience create an exciting platform to deliver value for consumers and investors,” said Jack Remondi, president and CEO, Navient. “Together, we will create and deliver consumer-centric education credit products for the digital age.”
“I am proud to share the momentous news that Earnest is joining the Navient family of companies,” said Louis Beryl, cofounder and CEO, Earnest. “By pairing Earnest’s capabilities and technology with Navient’s reach and resources, we can affect change at incredible scale.”
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Monzo runs out of card stock
“At Monzo, we aim to be transparent by default, both internally and externally, even when things have not gone as well as we’d like.
Over the last week and a half, we’ve had issues sending out our Monzo Mastercard Prepaid Debit cards to new customers, and we’d like to explain why.
When you reach the top of the waiting list and are ready to set up your Monzo account, we ask you to enter your personal details and make your first top up. It’s at this point that we create an order for your hot coral card. Assuming you make your first top up before 3pm, we post your card via Royal Mail 1st Class on the same working day. Over the last six months, 93.2% of Royal Mail’s 1st Class post arrived on the next postal day.”
Temenos partners with MuleSoft to break down barriers to open banking
Temenos, the software specialist for banking and finance, announces a strategic partnership with MuleSoft, provider of the leading platform for building application networks.
By creating a channel for banks to capitalize on the modern technology in Temenos’ Core Banking platform, MuleSoft enables banks to better connect and serve their customers. As part of the technology partnership, Temenos will develop and support a Temenos Core Banking adapter for MuleSoft’s Anypoint Platform, and establishing a standard, certified interface between MuleSoft and the Temenos Integration Framework.
More and more financial institutions are partnering with fintechs and leveraging Application Program Interfaces (APIs) to transform their infrastructure, attract new prospects, and delight current consumers through unprecedented Customer Experience (CX). This has led to a new paradigm of banks transforming into digital platforms, where banks leverage APIs to provide secure and scalable access to core capabilities to any employee, partner or customer, across any channel.
