Woman takes banking giant NAB to court over alleged fraudulent loans

April 25, 2016

"Leith Williamson alleges the National Australia Bank (NAB) allowed her former partner to secure hundreds of thousands of dollars in loans in her name, as well as a bank guarantee using her home as security, without her knowledge. The 58-year-old marketing consultant has spent four years trying to work out how debts approved by NAB for her former partner, real estate agent Phillip Waight, spiralled out of control. In its statement of defence, the bank said it had not been able to find documents which contained a guarantee signed by Ms Williamson for a loan worth $320,000."

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CORE BANKING

Mascoma Bank Selects Alkami as its Digital Banking Platform Partner

Alkami | April 13, 2022

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for banks and credit unions in the U.S., today announced that Mascoma Bank ("Mascoma") has selected Alkami's digital banking platform as part of a full technology stack overhaul with core banking technology firm Thought Machine. This will not only drive future growth for Mascoma, but also serve as a model for other community banks to build upon. We are building an innovative ecosystem that will allow us to better serve our existing customer base, attract new customers and grow strategically into the future, Our Chief Technology Officer, Raphael Reznek, challenged us to rethink how we use technology and the importance of building an embedded finance system. As a result, instead of replacing our existing core, we set out to completely revamp our tech stack to incorporate the most advanced systems. We chose to partner with Alkami because they offer the best balance of deep extensibility with robust 'out of the box' capabilities and configurations." Clay Adams, president and chief executive officer of Mascoma Bank. The Alkami platform will be integrated with Thought Machine's core banking platform, Vault, to provide a complete cloud-based banking platform that is capable of being easily configured and scaled. Mascoma will be able to get to market quickly and have the ability to customize based on the bank's unique needs using a modern API architecture and real-time data. Mascoma is a community bank to watch. They are undergoing a true digital transformation, and we are thrilled to be a part of it, Their digital-first mindset is helping them build a foundation that will allow them to innovate and adapt—fueling the future of community banking as a whole." Alkami's chief executive officer, Alex Shootman. Raphael Reznek along with our leadership team has a vision to build a digital platform that will put us in control of our destiny and serve as a roadmap for other community banks to follow. The new tech stack more than answers that call, I am particularly excited for Alkami's data insights, which will allow us to provide tailored experiences to further empower our customers on their financial journeys." Samantha Pause, chief marketing and product officer at Mascoma. About Mascoma Bank Headquartered in Lebanon, New Hampshire, Mascoma Bank is a $2.6 billion mutual bank and Certified B-Corporation® with 28 branches and 2 loan offices throughout Northern New England. Mascoma Bank was founded in 1899 by community members seeking ways to establish a healthy local economy. For over 122 years, Mascoma Bank's foundation of mutuality has continued to be a force for positive change supporting communities to reach thriving sustainability. Mascoma Bank has made a strong commitment of utilizing technology to help support its mission and values of putting the customer at the center of its work. About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, loan origination, and multi-payment fraud prevention solutions.

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Money 2020 Study: Credit Card Spending and the Pandemic

Money.com | October 12, 2020

In March when COVID hit, America hit a historical low point in our US economy. The combination of a pandemic and 22 million people filing for unemployment, led us to an all-time low in consumer optimism. America is now starting to regain its footing, and we are now open to spending more. In order to understand how the pandemic has shaped our spending behaviors, Money and Morning Consult surveyed 2,200 U.S. adults about their credit card usage and debt over the last six months, focusing on debt accumulation and psychological stress. With credit card debt, decreasing steadily since March - Americans are using this opportunity to chip away their credit card balance. More than half of our survey pool answered they said that they’ve put money towards a debt as a direct result of the pandemic (more than any other post-pandemic financial plan - including mortgages, refinancing loans, or buying a home/car). Stress and anxiety are still very active when it comes to credit card debt. Americans said they considered credit card debt to be more stress-inducing than any other debt they were asked about, including mortgages and loans. A quarter of Americans are spending now more than they were back in March, with this number being even higher for those living in cities compared to those in the suburbs. A third of America agrees they are swiping their credit cards more at grocery stores and restaurants. On the other hand, those that started a new job after February 15th are more likely to be spending less on discretionary items. Naturally, those that have been laid off or reduced income because of the pandemic are spending less. In line with the last recession, those going through financial hardship right now are leaning more on credit card debt.

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Zendesk Debuts Sophisticated Real-Time Analytics Solution

Zendesk | August 25, 2020

Zendesk, Inc. (NYSE: ZEN) today announced the launch of Explore Enterprise, the newest solution within its service-first CRM platform, which enables companies to analyze real-time data in order to understand changing needs. As global ticket volume reaches record highs, leaders can use Explore Enterprise to share relevant insights instantly with other teams and departments, helping them make faster decisions to improve their entire customer experience. “Customers are seeking more support from businesses than ever before, which is putting increased pressure on CX leaders and their teams,” said Shawna Wolverton, EVP of Product, Zendesk. “With Explore Enterprise, Zendesk gives companies the ability to analyze data in order to have a clear view of customer trends they are seeing across our Support and Sales Suites. These comprehensive insights allow businesses to quickly address emerging challenges and opportunities not just in customer service, but throughout their entire business.” Zendesk customers such as Mailchimp are already benefiting from using Explore’s reporting analytics to understand trends in over 30,000 tickets a month. “It’s about understanding our data as a whole, and being able to look at the big picture,” said Spencer Caratti, Senior Director of Customer Support at Mailchimp.

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FUNDING

Mastercard to Add to Services Momentum with Acquisition of Dynamic Yield, McDonald’s Cutting-Edge Personalization Platform

Mastercard | December 23, 2021

Mastercard and McDonald’s today announced an agreement for Mastercard to acquire McDonald’s state-of-the-art personalization platform and decision engine company, Dynamic Yield. Dynamic Yield’s technology is a natural addition to Mastercard’s existing suite of services that help brands deliver more effective and trusted customer experiences across channels. Sitting across online and offline channels to personalize a consumer’s experience with a brand, Dynamic Yield delivers individualized product recommendations, offers and content based on a range of factors, including past purchases, page views, time of day, current store traffic and trending products. The software-as-a-service (SaaS) platform uses advanced AI and other technologies to support 400+ brands across the retail, financial services, travel and restaurant industries, among others. The notion of going into a store or opening a webpage to find an experience perfectly tailored to you is no longer farfetched. It’s a reality that more brands are deploying and more consumers expect. With Dynamic Yield’s expertise and our scale and relationships, we’ll be able to bring the connections between the end consumer and our customers to new heights.” Raj Seshadri, President of Data & Services, Mastercard. Mastercard plays a central role in enabling trusted digital commerce experiences, connecting billions of consumers with millions of merchants and banks around the world safely and securely. With Dynamic Yield’s technology, Mastercard will be able to help its customers and partners meet consumers’ growing demand for a more personalized experience, no matter where they shop or do business. The creation of a unified consumer engagement and loyalty hub will further extend the value of Mastercard’s network to deliver digital services for payments and beyond. This builds on the company’s long track record of providing data-driven loyalty, analytics and marketing services, rooted in focused data responsibility principles. This includes the SessionM merchant loyalty platform and Test & Learn (APT) experimentation software. McDonald’s purchased Dynamic Yield in 2019, becoming one of the first brands to integrate decision technology into its restaurants. Under McDonald’s ownership, Dynamic Yield doubled its revenue and expanded its customer base across verticals. To date, Dynamic Yield’s technology has been deployed to McDonald’s drive-thrus and ordering kiosks in several markets around the world. The deployment and enhancement of this technology has been an important component of McDonald’s Accelerating the Arches growth strategy under which the brand has also prioritized improving ordering experiences, introduced a global loyalty program and expanded its delivery footprint. The acquisition by Mastercard will strengthen unique, existing synergies across McDonald’s digital engagement experiences currently powered by SessionM and Test & Learn. In addition, McDonald’s plans to further scale and integrate Dynamic Yield’s capabilities globally and across ordering channels. “We’re delighted to continue working with McDonald’s, a longstanding client and proven innovator in this space,” Seshadri continued. In addition to McDonald’s, a number of merchant and financial services brands already use both Dynamic Yield and existing Mastercard services. Synchrony has worked with both companies on digital customer engagement. “Synchrony works hard every day to deliver simple, tailored and relevant interactions to enhance the consumer experience,” said Jeff Brousseau, Senior Vice President, Performance Marketing, Synchrony. “With Dynamic Yield, we’ve been able to deliver contextual, personalized experiences across the consumer journey. Combining this with the power of Mastercard’s other digital services unlocks additional capabilities to further enrich consumer engagement.” The transaction is anticipated to close in the first half of 2022, with the strength and talent of the extended Dynamic Yield team ensuring consistency for its customers throughout the process. Upon close, current chief technology officer Ori Bauer will take the helm as CEO. Liad Agmon, current CEO, will stay on in an advisory capacity. The transaction is subject to customary closing conditions. Terms of the agreement were not disclosed. About Mastercard Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. About McDonald’s McDonald’s is the world’s leading global foodservice retailer with nearly 40,000 locations in over 100 countries. 93% of McDonald’s restaurants worldwide are owned and operated by independent local business owners. About Dynamic Yield Dynamic Yield helps enterprise brands quickly deliver and test personalized, optimized, and synchronized digital customer interactions. Marketing, Product, Development, and eCommerce teams from more than 400 global brands are using Dynamic Yield’s Experience Optimization platform as the technology layer that works alongside existing CMS, Commerce, or ESP solutions to iterate faster and algorithmically match content, products, and offers to each individual for the acceleration of long-term business value.

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