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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In its annual survey of industry consolidators, DeVoe and Co. detects signs that the upward march of RIA deal valuations may soon come to a halt.
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Three former senior enforcement officials at the Consumer Financial Protection Bureau have launched Halperin Petersen & Mikkilineni LLP, a new public interest law firm; Ally Financial taps Mark Mathewson as chief information and data officer; Provident Bank names Anthony Petrazzuoli SVP, deposits & payments operations director; and more in this week's banking news roundup.
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PayPal's board of directors is reportedly unimpressed with Stripe and Advent International's $53 billion offer to buy the company. Analysts had speculated that the offer may be low, despite the fact that it came in at a 30% premium compared with other merchant processors.
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Banks must tell regulators of a serious breach within 36 hours under a codified rule. Regulators say they will tell banks 72 hours of their own data breaches, in a memo nobody can enforce.
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By establishing direct connections to clearing networks such as Japan's central bank, the cross-border payment firm avoids intermediaries, feeding its strategy to undercut traditional financial institutions.
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The Charlotte, North Carolina-based bank stopped originating marine and recreational vehicle loans during the second quarter. Executives said the change will reduce net interest income in the short term, but deliver higher profitability over the long run.
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