United Kingdom-based credit card issuer Barclaycard has launched an ad campaign designed to run on mobile phones before other media, a company spokesperson tells CardLine Global. Barclaycard calls the campaign the first by a major advertiser to start with mobile phones and in a statement says the shift reflects "the new ways in which our target audience are consuming media." The ads attempt to sell neither cards nor card services, however, but instead "gadget insurance" for mobile phones and related devices. Barclaycard intends to run the ads through the third quarter, the spokesperson says. Barclaycard designed the campaign for customers of UK mobile network operator O2.
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Banking groups that sued the state of Illinois over its law barring banks from charging interchange fees on taxes and tips cheered an appeals court ruling remanding the law to a lower court and vowed to keep the law going into effect, which is slated for July 1.
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Stephan Feldgoise and Joshua Schiffrin will join Goldman Sachs' management committee; Fidelity Investments is dismissing about 800 personnel as it restructures its technology and product-delivery teams; Citi has hired JPMorgan's André Ross as its country officer and banking head for South Africa; and more in this week's banking news roundup.
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Affirm CEO Max Levchin said that the company did not have any plans for AI-spurred layoffs despite the fact that it was using the technology more for software engineering.
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Leaders from Wells Fargo, JPMorganChase and more talked about how banks can respond to the fast-moving changes in money movement, new forms of artificial intelligence, fraud, digital assets and more.
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The payments company posted strong adjusted earnings following a dramatic downsizing, which management attributed to the influence of artificial intelligence.
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The Securities and Exchange Commission initially offered $179.5 million to Michael Bacon, who provided key information to the government about Wells Fargo's fake-accounts scandal. But shortly after SEC Commissioner Paul Atkins took office, the amount was sharply reduced.
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