Today is Wednesday, April 20 and Just Eat Takeaway is conceding to investors and looking for a buyer for its U.S. arm Grubhub. Plus, smaller banks are finding that teaming with FinTechs gives them better tech than some of the bigger legacy banks. Here’s what else should be on your radar this morning.
Grubhub for Sale: Just Eat Takeaway (JET) is shopping around for a buyer to take Grubhub off its hands following pressure from investors, a decline in orders, and “challenging” growth forecasts for May and June. Consumers’ taste for restaurant food delivery has waned as the pandemic eased into the rearview mirror. READ MORE
Trend Spotting: As more transactions move online, criminals follow with increasingly sophisticated tools. One way Visa is fighting fraud is by tapping into its deep reservoirs of data powered by behavioral analytics and artificial intelligence to unearth common patterns of transactional behavior, Visa chief risk data officer Dustin White told PYMNTS’ Karen Webster. READ MORE
Old Banks, New Tricks: Community, state and regional banks risk being left behind if they can’t meet customers’ expectations for digital processes. Steve Tackett, executive vice president and head of the B2B division for Priority, told PYMNTS that smaller banks are teaming up with FinTechs to get what they need and sidestep the building process. And it’s often better than what big banks could build themselves. READ MORE
SMB Support: Wells Fargo’s new Small Business Resource Navigator was launched to help small business owners connect with community development financial institutions, or CDFIs. CDFIs can be banks, credit unions, microloan funds or venture capital funds, and extend SMB loans in low-income areas. READ MORE
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