Incorporating Customer Success into Your Organization

first_imgWhen using a freemium model, having a customer success team plays an integral part in keeping your customers happy and improving your bottom line. A freemium business model isn’t exactly the typical way to run your company. So naturally, it requires some unique processes and personnel to make it work. One of the most important steps you’ll need to take in order to increase user adoption and drive renewals and upsells is to establish a customer success team. Dan Rodrigues, CEO of Kareo, explains how this hybrid team is a critical component for any company that chooses freemium. Part sales team, part customer service, the customer success team has a unique set of responsibilities, and Rodrigues explains how, if run effectively, it can be your wolf in sheep’s clothing. In order to progress your customers along the cycle, your team needs to be able to get close to your customers, answer technical questions, and add value, all the while reinforcing the benefits of your product.Looking for More on Customer Success Management?customer success2Customer Success Management and the Critical Path to SaaS Renewals Poor user adoption and the lack of perceived value by customers is the greatest challenge faced by SaaS vendors. Quite simply, a customer that is not using your software and not realizing measurable business value from their IT investment will not be your customer for long. Read more.  The Customer Success Map: A Key Tool in Your Fight Against Churn In the ongoing battle against churn, you may be your own worst enemy. SaaS consultant Lincoln Murphy of Sixteen Ventures explains why understanding and mapping your customers’ needs is key to keeping them engaged, boosting their satisfaction, and reducing your churn. Read more. Image by Infusionsoft Sales and MarketingAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThis1 Dan RodriguesFounder & CEO Twitter Twitter LinkedIn LinkedInYou might also like …HR & PeopleHow to Avoid Alienating Non-Product Teammates in Your Product-led CompanyOne of the hidden challenges faced by product-led organizations is a tendency to focus so much on product that other…by Jeff DianaHR & PeopleTime to Pivot On Outta Here? Make Your Next Career Move Your Best One Yet.Editor’s Note: This article first appeared on LinkedIn here.  Are you contemplating a change in your job or career? Perhaps…by Anita SandsHR & PeopleWhy Hiring Senior Leaders Early Is Worth the InvestmentThere’s no other way to put it. Getting hiring right is absolutely critical. Any VC will tell you that the…by Philip MundySubscribe & ScaleSign up for our newsletterSign up for our newsletterEmail* By submitting your information, you agree to receive periodic emails from OpenView. Please review our privacy policy here.CommentsThis field is for validation purposes and should be left unchanged. AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThis ;last_img read more

Building a Modern Security Engineering Organization

first_imgOver the past decade, the world has fundamentally changed in a variety of ways, with huge implications for business. We’ve seen the rise of transformational new technologies, for instance, such as cloud, mobile, and big data. When it comes to running a modern security engineering team that keeps your business secure, three changes have been particularly important: speed to market, continuous deployment, and increasing the cost of the attack.Speed to Market Taxes SecurityFor starters, things move a lot faster than they used to. Code that once took weeks or even months to deploy can now go into production almost instantaneously. Plus, we’ve got the added complexity of having more people with access to production systems than ever before as the responsibilities of development and operations teams merge. Last but not least, the cost of launching attacks has dropped significantly, making it a lot easier for hackers to target companies.To adequately address these changes, today’s security engineering teams need to understand continuous deployment and DevOps. Not only that, they need to figure out ways to drive up attack costs to make themselves a harder target for attackers.Near Instantaneous Deployment is the New NormWe’ve come a long way from the days of traditional waterfall, where deployment to production was often months or even years away. In my previous role at Etsy as Director of Security Engineering, we were pushing new code to production an average of 30 times a day. Additionally, we were constantly iterating in production using feature flags, ramp ups, and A/B testing — something that’s been a game changer for security requiring everyone to adopt a completely new mindset.The control we thought we had was really just an illusion. Why? Because every practical development methodology results in shipping code with vulnerabilities in one way or another.In the old deployment models, like waterfall, security functioned as a blocker to the business requiring sign off before allowing anything to go into production. The shift to quicker deployment models is therefore often scary to security teams. It feels like code is now going to be flying out the door without any degree of control.But here’s the thing. The control we thought we had was really just an illusion. Why? Because every practical development methodology results in shipping code with vulnerabilities in one way or another.What makes continuous deployment a better and ultimately safer option is that it allows you to actually react when those vulnerabilities are discovered. That’s critical given most customers’ growing demands and expectations, particularly when issues arise.If you’ve ever lived through waterfall development methodologies or out-of-band patches, then you know how painful it can be when an emergency comes up. Whether it’s because of a security issue, a performance issue, or just a general bug fix, shipping any type of fix, especially for an emergency, has traditionally been incredibly hard. Most organizations that only release every 18 months just aren’t designed to rush something out the door in a matter of days or even weeks. With continuous deployment, by contrast, there’s no such thing as an out-of-band patch. An “emergency fix” is just one of the dozens of deployments that are already going to happen that day.With continuous deployment, by contrast, there’s no such thing as an out-of-band patch. An “emergency fix” is just one of the dozens of deployments that are already going to happen that day.What makes continuous deployment safe?In a word, safety comes from “visibility.” Over the past five years, DevOps teams have been focused on increasing visibility and awareness to facilitate informed decision-making. Although security is a few years behind the curve here, we’re finally headed in that direction now, too.To explain why, let me draw an analogy to aviation. Security, at present, is like piloting a plane without any instruments. Sure, you can fly, but when there are bumps along the way you have no idea if it’s because you’ve just hit some turbulence or because your engines are on fire. In other words, it’s like living in a binary world where things are either fine or they’re not, when of course it’s never really that black or white.Thankfully, with the shift to DevOps and continuous deployment, we have the opportunity to gain far greater visibility and awareness than ever before so that we can make better decisions. Of course, to ensure the kind of visibility and awareness you need, you’ve got to actively share information with other teams and organizations. One way of doing this is by embracing the cultural change that the shift to DevOps/continuous deployment often triggers.Greater Communication is KeyWith continuous deployment, you no longer kick your code over to Q&A for six weeks and then on to staging for twelve more. Instead, you perform code reviews and tests and then ultimately deploy it to production yourself. By removing the old organizational blockers, speed is dramatically increased.For security engineering teams, this means that if you’re a roadblock to development, it’s now easy for them to work around and actively avoid you. A big part of the solution is better communication, and here are some key lessons learned:Don’t be a jerk. This should be obvious, but empathy needs to be a core part of your security team’s culture. People should want to talk to security, so make sure that you’re hiring with that in mind. Especially important is empathy with operations and development teams. Understanding their daily battles and commiserating gives you credibility making you more successful in the long run.Make realistic tradeoffs. Don’t fall into the trap of thinking every issue is critical. If you prioritize the ones that really matter and agree to not hold up the works for those that don’t, you’ll find that teams will be much more willing to engage with you.Explain impact clearly. Telling colleagues in another department that “if an attacker did X and Y, our user data would be compromised” paints a clear picture. Telling them that “the input validation in this function is weak” doesn’t. Remove the security language barrier by speaking in plain English.Reward people who communicate with your team. Believe it or not, t-shirts, gift cards and high fives all work (shockingly) well. Creating a culture where interacting with security is seen as a positive thing will dramatically pay off.Take the false positive hit yourself. Wherever possible, avoid sending unverified issues to engineering / operations teams. When issues are discovered or reported, have the security engineering team verify them and potentially even make the first attempt at a patch. When security sends loads of unverified issues to engineering teams that turn out to be false positives, engineering will rightfully ignore future communications from the security team which is exactly what you want to avoid.Scale via team leads. Build relationships with technical leads from other teams, encouraging them to make security part of their team’s culture. This ensures that when new engineers join their respective teams, security is emphasized to them even without your direct involvement.While it may sound trivial, the best you thing you can do to help ensure the success of your security team is to promote better communication.Widespread Access Needs to be ManagedMost startups begin with a pretty simple access control policy: everyone gets access to everything. That’s particularly true as development and operations teams merge. Of course, as organizations grow and scale, this becomes increasingly problematic and pressure starts to mount to put some policies and regulations around who can access what.The key to getting it right is avoiding knee-jerk reactions and taking away capabilities from people when they’re just trying to do their job. Instead, focus on building safe ways to perform needed job functions, by taking the following approach:MethodologyDon’t be a blocker, be an enabler. Figure out what the underlying function or capability is that your colleagues need. What is it that they require to get their job done? Once you understand the need, get out of the way!Do not say NO, instead deliver alternative solutions. Create an alternative, safe way for them to perform the function or capability. Give better ways to get the job done and employees will use them.Build options and impact change. Transition your entire organization over to the new, safer way of doing things. A transition takes time, don’t expect this to happen over night.Phase out the old in a controlled manner. Begin soft-failing the old system, setting up alerts to notify you of any usage of the old unsafe way of doing things so you can correct those instances.In PracticeAn often seen example of this is where a large percentage of the development organization has SSH access to production systems. SSH is typically used in an administrative capacity to provide access to a prompt on a remote or local system. In this case, the steps to improving security are:Determine why SSH access is needed to production systems. Often it’s due to needing to be able to view application logs to debug issues.Create the alternative solution. In this case application logs used for debugging are the required item, not SSH. Therefore, by providing an alternative way to safely access that data via a central logging system like Splunk, ELK, etc., SSH access can be removed over time.Transition over time. Publicize the new alternative way to access the data. When users are aware of a new, better, and more secure way of getting their jobs done they will naturally transition to the new system.Monitor on behavioral anomalies. Begin alerting on SSH access to production systems so a reminder about the new approach can be sent. Again this is a phase in the transition of users to the new system. Continue to softly alert them to the new and improved method without becoming the department of “no.”After transition, push the final hold outs. Restrict SSH access down to only those which require it, ex: sysops. Make sure that you have given ample time and direction to those in need of the solution.If you take this approach, everyone wins. Security doesn’t become a blocker by removing capabilities that people need to be effective, but instead they provided a safe approach to perform the required tasks.Increasing the Cost of Attack Brings Advantage to the DefenderAlthough it has become cheaper and easier to conduct attacks, there are several ways to use this to your advantage as a defender. Some of the most effective approaches are to run realistic attack simulations against your organization, have a disclosure policy, and potentially even a bug bounty program. The goals of these sorts of programs are to:Incentivize people to report issues to you.Drive up the costs of vulnerability discovery and exploitation.Provide external validation of where your security program is and isn’t working.If you’re worried about budgetary concerns, money is rarely the main motivation for researchers reporting issues (although it certainly helps!). Similarly, if you’re concerned about inviting attacks, the fact is that if you’re on the Internet you already get a free penetration assessment every single day, you just don’t receive the report.Before launching a disclosure program or a bounty, one of the most effective things you can do is take note of what vulnerability classes you expect to see and what ones you don’t. You can then compare your expectations against the issues that actually wind up getting reported to provide extremely useful data on where your security program is working well and where it needs adjustment and iteration.If you’re concerned about inviting attacks, the fact is that if you’re on the Internet you already get a free penetration assessment every single day, you just don’t receive the report.Keep Calm and Enable Your BusinessThe shift to DevOps and continuous deployment often feels scary to security teams because it represents such a significant departure from the way we’ve approached security in the past. However, instead of reducing security this transition actually affords us a unique opportunity to fundamentally shift the position of security from being a blocker to enabling greater business velocity.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to PrintPrintShare to EmailEmailShare to MoreAddThislast_img read more

Twitter Updates Privacy Policy and Ends Do Not Track Support

first_imgTwitter Twitter Updates Privacy Policy and Ends ‘Do Not Track’ Support Angela Moscaritolo Reporter 3 min read Twitter on Wednesday announced some privacy policy updates and new tools to give you more control over how your information is used. But it has also discontinued support for the Do Not Track browser preference.It should now be a little easier to keep tabs on how Twitter is using your information and which advertisers target you on the platform. In Settings, visit the newly expanded “Your Twitter Data” section (located on the right-side column on desktop) to see which advertisers have included you in their “Tailored Audiences.” When I checked this morning, Twitter said I was part of “10,718 audiences from 2,140 advertisers.”You can request an advertiser list and/or head to a new “Personalized and Data” section, which lets you easily opt out of things like personalized ads and data tracking. Among the options in this section is one to “personalize across your devices.” If you leave this turned on, Twitter will associate your device with your account and “personalize your experience based on information from other devices besides the ones you use to log into Twitter.” This means if you visit sports websites on your laptop, you might see sports-related ads when you’re browsing Twitter on your mobile device.You may see a notice informing you about the recent privacy policy changes the next time you visit the microblogging service, if you haven’t seen it already. It gives you the option to review you settings or click “Sounds good” and proceed to Twitter; if you choose the latter, you’ll be opted in to most of the new settings.In a blog post, Twitter said it has “expanded” the way it uses and stores data from other websites that integrate content from the platform, such as embedded tweets. The company is storing “web page visit data,” but not for users in the European Union or European Free Trade Association states.This data collection “will allow us to further improve and personalize our services, connecting you with the stories, brands and organic content you care about most,” the company said. Meanwhile, Twitter said that some of its partnership agreements allow “non-personal, aggregated and device-level data” to be connected with personal information such as your name and email, “but only when you give your consent to those partners.”Finally, it should also be noted that Twitter has discontinued support for the Do Not Track browser preference. “While we had hoped that our support for Do Not Track would spur industry adoption, an industry-standard approach to Do Not Track did not materialize,” Twitter said. “We now offer more granular privacy controls.” –shares The only list that measures privately-held company performance across multiple dimensions—not just revenue. 2019 Entrepreneur 360 Listcenter_img This story originally appeared on PCMag You may see a notice informing you about the recent privacy policy changes the next time you visit the microblogging service, if you haven’t seen it already. Image credit: via PC Mag May 19, 2017 Next Article Apply Now » Add to Queuelast_img read more

WINT Water Intelligence Tackles Waste While Improving Efficiency

first_imgSustainability Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Add to Queue We love to celebrate companies that are making a deposit by making a difference. When we  get asked by entrepreneurship grads, “What business should I go into?” Our answer is always, “Find a business that addresses, mitigates, or helps people and companies survive the biggest mega trend of our time, climate change!”One of the elements that is becoming increasingly scarce and precious is water. Yet we still suffer from leakage, bursts and overuse. What if you could get notified on your phone when there was any unusual use on your water system? What if you could monitor water use with A.I., machine learning and cellular networks? What if your system would automatically shut down if you have a break in the lines?In other words, how about using state-of-the-art technologies to save and use water more efficiently? That’s the value proposition behind WINT Water intelligence. According to WINT CEO, Alon Geva, as much as 25 percent of water is just wasted through leaks, bursts and overuse.Hailing from Israel where water is super precious, WINT uses a comprehensive system of smart valves, AI, machine learning and communication systems to save companies significant amounts of water and expenses. Since the price of water has nowhere to go but up, this technology promises a rather rapid and permanent return on investment. WINT is now available in the United States just in time to help businesses maximize their water use while minimizing their water bills.We caught up with WINT CEO Alon Geva and their Chief Product and Strategy Officer, Yaron Dycian, to find out more about this timely solution.Related: Only This Technology Can Save Us From the Coming Water CrisisM&B: When and how did you first get the idea for this business?Alon: Our founder suffered a water leak in his home, which caused a lot of damage. Following this incident, he looked for a solution that can prevent this from ever happening again but couldn’t quite find one that addressed his needs. So, he decided to build a solution based on the most advanced technology, using artificial intelligence. Our first customers immediately reported that it substantially saved them water and made for more effective water use. Seeing the impact our solution can have on the environment, we then developed our next versions with two value propositions in mind – preventing water damage AND conserving water.M&B: Where was the first WINT application used and where is it used now?Yaron: One of our very first customers was a Fortune 500 company. They deployed WINT in two buildings as a trial. The results beat their expectations – a 27-28 percent reduction in water consumption. Since then, they installed WINT in 24 buildings. Thanks to this corporate customer and others, we keep improving the solution and enhancing our feature set. WINT is now installed in hotels, commercial facilities, high rise office buildings, manufacturers and more.M&B: What does the WINT solution do that sets it apart from what already out there?Yaron: WINT uses Artificial Intelligence that constantly learns how water is being used by the facility. It studies local usage patterns and combines it with knowledge that we’ve acquired over many years in thousands of locations. That enables it to detect any water use anomalies, overuse or even the smallest leaks, in real time. Administrators get the flexibility to choose what to do when a leak is detected – automatic water shutoff, manual shutoff, alerts, and more.In addition, we also operate a global 24/7 control center where all WINT systems are constantly being monitored. So that’s two layers that ensure that WINT detects any water loss events, as soon as they happen. The result is a robust and highly useful solution that no one else has.Related: Here’s How to Save the Planet and Make a ProfitM&B: How is AI employed to produce water savings?Alon: WINT uses artificial intelligence to continuously learn local water flows and behavior. It correlates flow patterns with pre-established knowledge of water users such as irrigation, lavatories, cooling towers and specialized equipment. Following a short learning period, WINT will detect anomalies in real time.WINT also uses AI to provide actionable reports that track consumption and waste – so sustainability teams can measure improvement over time.M&B: How long will an investment in WINT take to pay for itself?Alon: Our customers save approximately 25% of their water bills, so the cost of the solution is returned within 24 months and in most cases much faster.Another source of savings is the prevention of damage from water leaks. These aren’t as frequent as water waste, but when it happens the costs can be very high. When you combine the returns from water savings with damage prevention you get to an ROI within less than 12 months.M&B: What is the biggest challenge you face?Yaron: Organizations aren’t aware of how common this problem is. Sometimes when the system starts detecting water anomalies or overuse a short time after it’s installed, customers may be skeptical.For example, we recently identified a malfunction at a decorative fountain that was wasting $7,000 of water per month. This has been going on for two years! It took us a week to convince the customer that it’s real. Obviously after the first incident customers become really good at tracking down issues that come up using WINT.Related: 5 Unexpected Ways AI Can Save the WorldM&B: What was the biggest lesson you learned developing WINTAlon: We have been witnessing the need for our product growing beyond social responsibility, as companies realize that conserving water is a win-win situation – making a positive impact on the environment by reducing water waste, as well as saving their business substantial amounts of money by detecting leaks and preventing very costly damage and disruption of their business.M&B: It seems like this would be great for agriculture as well as building and factories? Who are your target customers?Yaron: That’s very true – food and agriculture are the largest consumers of water, and water waste is a big deal in these industries. That said, being a small company, we need to focus our efforts to ensure we provide our customers the best solution, tailored to their needs. So, we’re currently focused on commercial and industrial customers. But, as you point out, there are many more market segments we’re hoping to expand to in the near future.M&B: We know you are new in the US, but do you have any happy customers here yet?Alon: Yes. I’m happy to see the list of US customers growing rapidly since we entered the US market. One notable customer is the Atlantis Casino Resort Spa in Reno, Nevada. I like to give that example because shortly after the system was installed, the WINT system sent an alert to the hotel staff that there was a pipe burst near the spa. The maintenance staff inspected the area but found nothing. They contacted our command center thinking it was a false alert. It wasn’t. The damaged pipe was located behind a wall. The maintenance staff went back to the spa, broke through the wall and saw water gushing out. Since the pipe is located near a drain, it was invisible to anyone on the other side of the wall. That’s a great example of the power of WINT.Conclusion:Going forward, saving water is becoming critical. We love the idea that WINT has developed a solution that is utilizing today’s leading-edge technology to solving two of today’s biggest problems – water waste and water damage. This is a great example of making a deposit by making a difference! To find out more about WINT Water Intelligence go to www.WINT.ai  Michael Houlihan & Bonnie Harvey An Israeli company specializing in high-tech for water use efficiency is doing well in the United States. Image credit: WINT Guest Writer Enroll Now for $5 WINT Water Intelligence Tackles Waste While Improving Efficiency Opinions expressed by Entrepreneur contributors are their own. 7 min read Next Article –shares Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. June 1, 2019 Founderslast_img read more

Cott sells soft drink concentrate production business to Refresco

first_imgCott sells soft drink concentrate production business to RefrescoPosted By: Jules Scullyon: February 11, 2019In: Beverage, Business, Industries, Manufacturing, Mergers & Acquisitions, Soft drinksPrintEmailCott Corporation has announced the sale of its soft drink concentrate production business and its RCI International division to Refresco for $50 million.The transaction follows Refresco’s acquisition of Cott’s bottling business in January 2018 – a $1.25 billion deal which created the largest independent bottler in Europe and North America with a combined production volume of approximately 12 billion litres.Refresco said it has simultaneously sold the RCI International division to holding company RC Global Beverages.Tom Harrington, who was appointed Cott CEO last year, said: “This transaction is the final step in the transformation of our business where selling the remaining business unit of the traditional carbonated soft drinks business is consistent with our strategy of accelerating the growth across our platform in water, coffee, tea, extracts and filtration solutions.“We want to thank all the associates of Cott Beverages LLC for their contributions and wish them well as they rejoin their former traditional bottling business colleagues and become a part of Refresco.”Hans Roelofs, CEO Refresco, added: “We are pleased to add Cott’s Columbus concentrate manufacturing facility to Refresco North America. It adds extensive innovation capabilities and skills and creates a global centre of excellence for beverage concentrate manufacturing. It is a perfect fit with our business. “We have decided to divest the RCI International branded activities and find an owner who can bring similar focus and continuity to this iconic brand. With RC Global Beverages Inc, we believe we have found an excellent match. The sale of Columbus from Cott to Refresco and the sale of the RCI International activities from Refresco to RC Global Beverages Inc took place simultaneously.”The deal sees Cott effectively divest all its carbonated soft drinks operations.In its 2016 annual report, Cott noted that “four major national non-alcoholic beverage companies – Coca-Cola, PepsiCo, Nestlé Waters North America and Dr. Pepper Snapple – control 60.8% of the total CSD and alternative beverage category within the United States”.It suggested, with much of its business elsewhere, it was unable to compete effectively in the soft drinks category.The company now aims to grow its water and coffee solutions businesses. Last year, it acquired The Mountain Valley Spring Company through its DS Services subsidiary for $75.8 million.Share with your network: Tags: bottlingCott CorporationRefrescoRefresco-Cottlast_img read more

Economists See RevvedUp Economy Next Year

first_img Next Article –shares Economists See Revved-Up Economy Next Year Add to Queue This story originally appeared on CNBC Learn how to successfully navigate family business dynamics and build businesses that excel. December 8, 2014 In case you missed it, the U.S. economy is picking up speed.That’s the view of a panel of business economists, whose latest growth forecast calls for a 3.1 percent advance in U.S. gross domestic product in 2015—up from a 2.2 percent expansion this year.And the improved job market will continue to push the jobless rate down to 5.4 percent by the end of next year, according to the latest forecast from the National Association for Business Economics (NABE).The groups’ upbeat outlook was bolstered Friday by the government’s latest employment data, which showed a surge in employment in November, when nonfarm payrolls jumped by 321,000. The report also boosted the government’s previous estimates for job gains in September and October.Those numbers were reported after the panel of business economists—who advise large U.S. banks and corporations—were surveyed in mid-November. Despite the pickup in job growth and overall output, the panel expects inflation will remain tame next year, in part because of the recent slide in oil prices.While the pace of the U.S. economy’s growth is expected to pick up, the economists are less upbeat about the global economy.Global growth is seen rising 3.4 percent next year, with China slowing to a 7 percent annual pace, Europe expanding by 1.2 percent and Japan eking out 1 percent gain in GDP.More than half think the world’s developed economies have hit a prolonged period of slower growth—or what they call “secular stagnation.” Nearly half of those who think this is happening blame the ongoing debt overhang from the Great Recession. Another 20 percent cited tight government spending.Other reasons cited were a slowdown in technological innovation (8 percent), demographic changes (8 percent), consumer retrenchment following the Great Recession (4 percent) and excess global production capacity (4 percent).However, 30 percent don’t believe growth in the developed world is in a prolonged slowdown.The group has also pushed back its forecast for a rise in U.S. interest rates. Most believe the Federal Reserve will begin boosting rates sometime in the middle of next year, but nearly half now think that won’t happen until the third quarter of 2015.The NABE also expect rates to rise more slowly—with the federal funds rate hitting 0.75 percent by the end of 2015. That is slightly less than the 0.845 percent forecast in the previous survey in September. Additionally, it trimmed its forecast for yields on 10-year Treasury to 3.2 percent by the end of 2015, down from the 3.5 percent September forecast.Inflation, spending, other indicatorsAmong the group’s other forecasts:Inflation: (as measured by the GDP price index) is expected to inch up to a 1.7 percent annual gain from 1.6 percent this year.Consumer spending: is expected to rebound from a 2.2 percent pace in 2014 to 2.7 percent next year. Car sales will hit 16.8 million units in 2015, up from 16 million this year.Industrial production: will slow to 3.5 percent next year, after a 4 percent increase in 2014.Housing: is expected to continue its slow recovery next year, with starts climbing from 920,000 units last year to 1 million units in 2014 (unchanged from September’s survey results) and to 1.15 million units next year from 1 million this year. More than a quarter of panelists said the ongoing slowdown in household formation rate is holding back growth, while another quarter cited “excessively tight” mortgage lending standards as the most important cause.U.S. budget: The group expects continued improvement in the federal deficit, which it sees shrinking to $460 billion next year from $483 billion in fiscal year 2014Wages: Respondents also expect an improved labor market to produce real wage gains, with hourly compensation rising 2.6 percent next year after this year’s 3 percent gain.Profits: After-tax corporate profits growth is expected to remain strong, rising 6.7 percent next year after expanding by 3.8 percent this year. The group expects that to translate into stock market gains that will propel the S&P 500 index to 2,050 by the end of this year, and 2,167 by the end of 2015.Trade: The group also expects exports to grow by 5.4 percent next year, up from 3.5 percent in 2014, with the dollar rising only slightly next year. Import growth is expected to accelerate by 4.4 percent in 2015, slower than the September forecast of 5.7 percent. Register Now » Economic Conditions Free Webinar | July 31: Secrets to Running a Successful Family Business 4 min read John W. Schoenlast_img read more

Employees Accidentally Trash 5 Million in Diamonds at Fifth Avenue Jewelry Store

first_img December 16, 2015 2 min read Next Article Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Add to Queue Former Staff Writer Geoff Weiss Employees Accidentally Trash $5 Million in Diamonds at Fifth Avenue Jewelry Storecenter_img Fireside Chat | July 25: Three Surprising Ways to Build Your Brand Image credit: malanis | Foap.com Employees at Manhattan’s J. Birnbach jewelry store made a $5 million mistake last week when they accidentally threw out a trove of the Fifth Avenue retailer’s precious diamonds.Police initially attributed the missing gems — one of which turned out to be worth a cool $3.2 million — to a robbery. Owner Jonathan Birnbach told authorities he’d left a safe unlocked for easy access, with the diamonds stowed away in three unsuspecting wooden boxes.But today, the New York Post reports that authorities determined employees accidentally threw the boxes in the trash in the midst of a move. The story took an even stranger turn as a security guard happened to go trash-diving and unearthed the gems, whereupon he allegedly sold some to another jeweler in the same building for $10,000 in cash. He allegedly kept the largest and most valuable 17-carat stone.After witnessing the discovery and sale on surveillance footage, police arrested the guard, 47-year-old Wilfred Martinez, and charged him yesterday with criminal possession of stolen property. Police recovered the $3.2 million stone, along with two smaller diamonds and $10,000. Investigators are still trying to track down the rest of the diamonds.Related: How a Robbery Led to a Business Idea Legal –shares Enroll Now for $5last_img read more

UK Engineers Have Developed a Prosthetic Hand That Can See

first_img Reporter Register Now » Image credit: via PC Mag Biomedical engineers at Newcastle University in the U.K. have developed a prosthetic hand with an incredible new skill: the ability to “see.”The bionic hand is fitted with a camera that “instantaneously takes a picture of the object in front of it, assesses its shape and size and triggers a series of movements in the hand,” according to a news release from the school.The team hopes this ushers in a new era of prosthetic hands that work better than anything available today, allowing the wearer to reach for objects automatically, without thinking. Prosthetic hands today require the wearer to physically stimulate the muscles of the arm to initiative movement — a process that takes concentration and practice.The new bionic hand bypasses this process: it “‘sees’ and reacts in one fluid movement,” the school said. “The hand ‘sees’ an object, picks the most appropriate grasp and sends a signal … all within a matter of milliseconds and 10 times faster than any other limb currently on the market.”The developers have already trialed this new technology with a small number of amputees. Now, they’re working with Newcastle upon Tyne Hospitals NHS Foundation Trust to offer the innovation to patients. A report on their work was published this week in the Journal of Neural Engineering. In the future, they’re hoping to develop a bionic hand that can sense pressure and temperature and transmit this information to the wearer’s brain.In a statement, co-author of the study Dr. Kianoush Nazarpour, a senior lecturer of biomedical engineering at Newcastle University, said prosthetic limbs haven’t changed much in the past century.”The design is much better and the materials are lighter weight and more durable but they still work in the same way,” Nazarpour said. “Using computer vision, we have developed a bionic hand which can respond automatically — in fact, just like a real hand, the user can reach out and pick up a cup or a biscuit with nothing more than a quick glance in the right direction.” Angela Moscaritolo The bionic hand is fitted with a camera that ‘instantaneously takes a picture of the object in front of it, assesses its shape and size and triggers a series of movements in the hand.’ 2 min read Attend this free webinar and learn how you can maximize efficiency while getting the most critical things done right. Add to Queuecenter_img This story originally appeared on PCMag May 8, 2017 –shares Next Article Free Webinar | Sept 5: Tips and Tools for Making Progress Toward Important Goals Health U.K. Engineers Have Developed a Prosthetic Hand That Can ‘See’last_img read more

Court Strikes Down FAAs Drone Registration Rule

first_img Your new drone has one fewer hoop to jump through on its way from its box to its first flight, thanks to a court decision on Friday that invalidates the requirement for non-commercial drone pilots to register their craft with the Federal Aviation Administration.A district court in Washington, D.C., found that the FAA’s registry is unlawful, citing a federal statute that prohibits the agency from making any rules or regulations that apply to model aircraft. That statute, the FAA Modernization and Reform Act, was enacted in 2012, three years before the FAA implemented its mandatory drone registration program. Under the program, drone owners must pay a $5 fee and affix a unique FAA identification code to their craft. Friday’s court decision vacates that rule, but only to the extent that it regulates recreational drones. The decision does not apply to commercial craft, which must meet a more stringent set of registration rules. Nor does it apply to the FAA’s other drone rules, including both temporary and permanent flight restrictions around military bases and other sensitive areas.Despite its Big Brother-ish nature, the rule was ostensibly enacted to improve safety as more and more drones take to the air. In his decision, Judge Brett Kavanaugh noted that although the rule is unlawful, “aviation safety is obviously an important goal, and the Registration Rule may well help further that goal to some degree.”The FAA said on Friday that it is reviewing the court decision, but did not immediately announce whether it would appeal.”The FAA put registration and operational regulations in place to ensure that drones are operated in a way that is safe and does not pose security and privacy threats,” the agency said in a statement. “We are in the process of considering our options and response to the decision.” May 22, 2017 Add to Queue –shares Image credit: via PC Mag This story originally appeared on PCMag Learn from renowned serial entrepreneur David Meltzer how to find your frequency in order to stand out from your competitors and build a brand that is authentic, lasting and impactful. Tom Brant Next Article center_img Drones Court Strikes Down FAA’s Drone Registration Rule Ostensibly enacted to improve safety, the requirement that recreational drone pilots register their craft with the FAA is nevertheless unlawful, a court ruled. Fireside Chat | July 25: Three Surprising Ways to Build Your Brand 2 min read News reporter Enroll Now for $5last_img read more

Google Wins Fight With Labor Department Over Pay Gap Data

first_img Google Wins Fight With Labor Department Over Pay Gap Data Image credit: turtix / Shutterstock.com This story originally appeared on Engadget 2019 Entrepreneur 360 List Add to Queue –shares Google Jon Fingas A judge has ruled that officials asked for too much info. Google appears to have emerged mostly triumphant in its fight with the Department of Labor over supplying pay gap data. An administrative law judge has ruled that the Office of Federal Contract Compliance Programs overstepped its boundaries by asking for as much data as it did when trying to address reported pay disparities between men and women. According to the decision, the OFCCP’s requests were “intrusive on employee privacy, unduly burdensome and insufficiently focused.” To put it succinctly, the Office couldn’t justify why it needed as much info as it wanted.The Department had been asking for job data up to 15 years old, and wanted far-ranging personal data that included addresses and contact info for over 25,000 employees. In theory, sharing that material could have exposed staff to identity theft in the event of a government data breach, which the judge saw as a realistic possibility.Officials aren’t coming away completely empty-handed. Provided the decision is finalized, Google says it’ll honor the rest of the order and provide the “much more limited” data the judge said was acceptable. That includes the contacts for a relatively small sample of 8,000 workers. Still, this definitely isn’t what the Labor Department wanted — and it’ll likely have to be more cautious the next time it’s investigating pay problems with its tech contractors. Next Article July 17, 2017 2 min read The only list that measures privately-held company performance across multiple dimensions—not just revenue. Apply Now »last_img read more

Nestlé to release allergenfree chocolate chip range

first_imgNestlé to release allergen-free chocolate chip rangePosted By: News Deskon: May 22, 2018In: Bakery, Food, Industries, New productsPrintEmailTo mark Food Allergy Awareness Week in the US, Nestlé Toll House has released a new allergen-free chocolate chip product line for use in baking.The Simply Delicious Morsels range will initially offer two varieties, Semi-Sweet and 67% Dark Chocolate, both of which are completely free from all eight major allergens: peanut, tree nut, milk, egg, wheat, soy, fish and shellfish.Both variants are made with three ingredients: cocoa butter, pure cane sugar and 100% real chocolate, and are also free from artificial flavours, preservatives and flavours.Packaging for the new product line will feature a teal ribbon, which signifies that the products are allergen free to consumers.Haig Basmadjian, marketing director at Nestlé Toll House said: “We are thrilled to launch Simply Delicious Morsels because we believe the exceptional taste of Nestlé Toll House should be enjoyed and shared by everyone.“Simply Delicious Morsels are a great option for bakers who want to feel confident that the ingredients they are using are high-quality, taste great and are safe for all to enjoy, including those with any of the eight major food allergies.”Both variants of the Simply Delicious Morsels range will be available from selected US retailers from June onwards, with a suggested retail price of $4.99 per packet.Share with your network: Tags: allergensbakingchocolateNestléUSlast_img read more

Danone and others form PlantBased Foods of Canada group

first_imgDanone and others form Plant-Based Foods of Canada groupPosted By: Martin Whiteon: September 17, 2018In: Business, Food, Health, Industries, InnovationPrintEmailDanone, Hain Celestial and other plant-based food companies operating in Canada have formed the Plant-Based Foods of Canada (PBFA) lobbying organisation to advance the interests of the plant-based foods sector in the country.PFBA will work with governments to raise awareness of the emerging issues shaping this sector, in order to foster the growth of the sector and encourage innovation, in order to provide Canadian consumers with plant-based food choices which meet consumer expectations.The core mission of the organisation is to “support the regulatory and market interests of plant food companies in Canada that make and market vegetarian products that are similar to traditional animal protein products.”Founding members of the organisation include Danone, Hain Celestial, Pinnacle Foods, Daiya Foods, Earth’s Own Foods, GreenSpace Brands, Ripple Foods, Lightlife Foods, and The Field Roast Company.PFBA is a division of Foods & Consumer Products of Canada (FCPC), which is the largest trade association representing food, beverage and consumer goods manufacturers in Canada. Figures collected by research agency Nielsen show that sales of sales of meat and dairy alternatives in the country over the past year have increased 8% to more than CAD3 billion ($2.3 billion), and the organisation claims that this shows that this growing sector is being taken increasingly seriously by consumers and retailers.David Johnston, vice-president and general manager of Pinnacle Foods Canada said: “Canadians want—and deserve—plant-based food choices that align with current food trends.“Plant-based foods are an important source of protein for many Canadians, and it is important to us that they continue to be a nutritious, delicious, and exciting option for all.”Beena Goldenberg, CEO of Hain Celestial Canada added: “The time has come for the plant-based food industry to build upon its collective voice within Canada.“In the next five to 10 years, we are going to see rapid growth in the interest and consumption of plant-based foods. It’s happening already.“As industry continues to move into the mainstream, it’s critical that it has a voice to accurately represent it and help shape the direction it takes for the benefit of all Canadians.”Share with your network: Tags: CanadaDanoneHain CelestialPinnacle Foodsplant-basedlast_img read more

Arcadia and Ardent Mills partner to develop new wheat varieties

first_imgArcadia and Ardent Mills partner to develop new wheat varietiesPosted By: Contributoron: November 07, 2018In: Agriculture, Bakery, Food, Industries, Ingredients, Innovation, TechnologyPrintEmailUS companies Arcadia Biosciences and Ardent Mills have joined forces to develop and commercialise innovative wheat varieties.The first project focuses on extending the shelf life and improving the flavour of whole wheat products.Both firms said that using patented Arcadia trait technology, the storage life of whole wheat flour can be extended by slowing the enzymatic processes that reduce shelf life. Because milled flour from wheat carrying Arcadia’s trait technology oxidizes more slowly, it also said to minimise the bitterness associated with most whole wheat products. This trait is expected to help improve the taste of whole wheat products and help reduce waste.The extended shelf life wheat trait was developed using Arcadia’s proprietary non-GM wheat genetic diversity library, a resource of trait lines with high-density variations in genetic composition and gene function.Arcadia said that because it is non-GM, the trait has “wide application potential across both conventional and organic farming practices”.Ardent Mills CEO Dan Dye said: “For several years, we have been investing in this strategy. We see this trait as a big and important step forward that will benefit bakers, food manufacturers, the food service industry, and ultimately consumers.”Arcadia CEO Raj Ketkar said: “As the leading flour supplier and grain innovator in North America, Ardent Mills is the ideal partner to bring this technology to the market.“Wheat is an important source of fibre, protein, nutrients and minerals for consumers throughout the world, and these creative approaches to improving the functional properties of wheat can have a significant impact on the future of whole grain consumption.”Shrene White, general manager of The Annex by Ardent Mills, added: “This new trait was developed through traditional breeding. While innovative thinking has brought it this far, further collaboration will continue between Ardent Mills, Arcadia and university partners to bring this trait to commercial reality.”Share with your network: Tags: Arcadia BiosciencesArdent MillsUSlast_img read more

Wake Forest assistant coach pleads not guilty for punch that killed NYC

first_img Read more “If you’re this good father, son, husband, why not try to take him to the hospital and see if you could save his life?” Bob Kent said. Police say Szabo banged on Jones’ SUV window, apparently thinking the vehicle was his Uber ride. A person familiar with the investigation told the Associated Press that Szabo may have been drunkenly knocking on car windows before Jones allegedly confronted him. The person spoke on the condition of anonymity because the person was not allowed to speak publicly.Police say Jones got out, punched Szabo and sped off. Szabo fell and hit his head. He never regained consciousness and was taken off life support Tuesday. The city medical examiner’s office said Friday that Szabo’s death was a homicide caused by blunt impact to his head. Jones, 35, of Kernersville, North Carolina, turned himself in to police Thursday and was arraigned on a misdemeanor assault charge. His next court appearance is scheduled for 2 October.Jones, lawyer, Alain Massena, told the AP that the death was “a tragic accident, and Mr. Jones and his family send their deepest condolences and their thoughts and prayers to the Szabo family.” Donna Kent told Today, “I’m sorry, your condolences are a little bit too late.” Szabo, also 35, was visiting from Boca Raton, Florida, where he lived with his brother. Szabo was vice president for sales at What If Media Group, a digital media company based in Fort Lee, New Jersey. “He was always upbeat, positive, kind and caring,” the company said in a Facebook post. “He was fun to be with, interesting, and always interested. He was a really good person.” Wake Forest said in a statement that it would comment further once it gathered more information.  Share via Email Jamill Jones, 35, faces assault charge for fatal punchLawyer for assistant coach calls incident ‘tragic accident’ Share on LinkedIn Share on Facebook New college basketball guidelines only strengthen a rotten, exploitative system Share on Facebook Share via Email New York Les Carpenter Share on Messenger US sports College basketball Wake Forest assistant coach pleads not guilty for punch that killed NYC tourist Since you’re here… Shares66 … we have a small favour to ask. The Guardian will engage with the most critical issues of our time – from the escalating climate catastrophe to widespread inequality to the influence of big tech on our lives. At a time when factual information is a necessity, we believe that each of us, around the world, deserves access to accurate reporting with integrity at its heart.More people are reading and supporting The Guardian’s independent, investigative journalism than ever before. And unlike many news organisations, we have chosen an approach that allows us to keep our journalism accessible to all, regardless of where they live or what they can afford. But we need your ongoing support to keep working as we do.Our editorial independence means we set our own agenda and voice our own opinions. Guardian journalism is free from commercial and political bias and not influenced by billionaire owners or shareholders. This means we can give a voice to those less heard, explore where others turn away, and rigorously challenge those in power.We need your support to keep delivering quality journalism, to maintain our openness and to protect our precious independence. Every reader contribution, big or small, is so valuable. Support The Guardian from as little as $1 – and it only takes a minute. Thank you. Support The Guardian Share on Twitter College basketball Associated Press Topics College sports Share on Twitter Wake Forest assistant coach Jamill Jones, second from left, is alleged to have thrown a punch that killed a New York City tourist who knocked on his car window thinking it was his Uber ride.Photograph: Chuck Burton/AP Fri 10 Aug 2018 11.17 EDT Share on Pinterest Share on WhatsApp The parents of a Florida man who died after he was punched by an assistant basketball coach at Wake Forest University said Friday they don’t accept the coach’s condolences. Bob and Donna Kent told NBC’s Today show that the coach, Jamill Jones, should have tried to save their son Sandor Szabo’s life after punching him early Sunday. Reuse this contentlast_img read more

Best Buddies of Indiana Volunteer Search

first_imgKids Holding HandsBest Buddies is a nonprofit 501(c)(3) organization dedicated to enhancing the lives of people with intellectual and developmental disabilities by providing opportunities for one-to-one friendships, integrated employment, and leadership training. As they approach their 21st Annual Best Buddies International Leadership Conference, they are thrilled to welcome over 1,000 high school and college students with and without intellectual and developmental disabilities from around the world to Indiana University in Bloomington, Indiana on July 23-26, 2010.Best Buddies are in need of over 100 volunteers to assist us in these four days of learning, leadership development, and FUN! Please contact Rebecca at rebeccascherpelz@bestbuddies.org or (317) 436-8440, extension 45 for more information.Share this…TwitterFacebookPinterestLinkedInEmailPrint RelatedArt Studios offer Creativity without LimitationsJuly 7, 2011In “INDATA News”Indiana Assistive Technology ConferenceFebruary 18, 2010In “Conferences and Events”Muscular Dystrophy Association Summer CampMay 31, 2010In “Conferences and Events”last_img read more

Monday Tech Tip Tablitab manager for Chrome

first_imgBrian Norton, Director of Assistive Technology, at Easterseals Crossroads shows us a tab manager for Google Chrome called Tabli.Check it out here:Share this…TwitterFacebookPinterestLinkedInEmailPrint RelatedATFAQ051 – Q1 Venmo app accessibility with VoiceOver Q2 Best phone for users who are blind Q3 Too many browser tabs Q4 Chrome browser & ChromeOS on Windows 10 Q5 Voice input systems for people who are blind Q6 Do we will need our home/desk phonesApril 10, 2017In “Assistive Technology FAQ (ATFAQ) Podcast”7 Google extensions & apps for learning disabilitiesNovember 4, 2015In “Apps”ATFAQ062 – Best of episode: Q1 Clearing my iPhone before a trade (from episode 30) Q2 iPhone with camera/switch access (from episode 44) Q3 Contacting JAN (from episode 59) Q4 Too many browser tabs (from episode 51) Q5 Reading building directories with an app (from episode 55) Q6Where to find apps (from episode 54)September 25, 2017In “Assistive Technology FAQ (ATFAQ) Podcast”last_img read more

Microsoft Really Doesnt Want You to Use a Local Windows Account

first_img By Joel Hruska on July 23, 2019 at 10:30 am Ever since it launched Windows 10, Microsoft has been pushing hard for end-users to create and use a Microsoft account rather than a local account. Apparently last year, with the October 2018 update, the company went so far as to hide the option to create a local account altogether. The Windows 1903 update, released in May, rolls things back a little bit and restores an option that should never have been removed in the first place.The situation ironically illustrates why I didn’t write about this at the time. I did some testing on Windows 1809 last year, but I didn’t allow it to connect to the internet to finish setup. Good thing I didn’t. If you do, you can’t configure a local account.Note the complete lack of an alternative. Image credit: Mark Hachman/IDG.If you allow the system to connect to the internet using Windows 10 1809 to get updates out of the way, the option to create a local account is removed. When Microsoft launched Windows 10, it offered the local option as a straightforward alternative, even if it passive-aggressively shoved you towards the online option (the screenshot below dates to the Windows 10 original launch).The original local account setup password page.All of this was removed in 1809 if you connected to your Wi-Fi network first. The only reason I didn’t detect it at the time is that I don’t allow Windows to connect to Wi-Fi to finish installing itself. Even the previous practice of entering a garbage email to nudge Windows into offering a local account didn’t work. The only way to force 1809 into allowing a local account after connecting to Wi-Fi is to disable your router. You can also reboot the system and restart the installation process — but since Microsoft doesn’t actually tell you that refusing to allow it to update via Wi-Fi will still allow you to create a local account, this option isn’t obvious to users. I had no idea that when I refused this step, I was actually safeguarding my ability to create a local account.The situation has improved somewhat with 1903. Microsoft still shoves you hard towards a non-local account, but if you click the “I don’t have Internet” option followed by “Continue with limited setup,” you will eventually be allowed to access your computer without setting up an online Microsoft account.Microsoft Has Learned Nothing From Its ‘Get Windows 10’ DisasterWhat does this demonstrate? Mostly, that Microsoft has learned absolutely nothing. The “Get Windows 10” campaign was cautiously well-received at unveil and loathed at its conclusion, thanks solely to Microsoft’s repeated decision to transform it from an upgrade offer into a deceiving malware-like application that scheduled users for upgrades they did not wish to take and ignored their attempts to cancel the process. Microsoft changed the method of canceling a Windows 10 upgrade and didn’t communicate that to end-users as part of a deliberately created dark pattern. A slideshow of the various Get Windows 10 options that Microsoft cycled through (and the malware-like behavior some engaged in) is shown below: Microsoft Really Doesn’t Want You to Use a Local Windows Account You Might Also LikePowered By ZergNet Dani From ‘Girl Next Door’ is Absolutely Gorgeous Now at 36 Tagged In microsoftwindowswindows 10operating systemosGet Windows 10Windows 10 1809Windows 10 1903Windows 10 1803Windows 10 upgradelocal account Post a Comment 16 Comments A dark pattern in UI is when a developer changes the behavior of the application to change the behavior of expected elements. In advertising, a company might move the “X” to dismiss a message to the upper-left-hand side of the screen, while the upper-right corner has a “Replay” option that repeats the ad. (I’ve seen mobile ads use this tactic). Sometimes companies will switch between requiring checkboxes for opt-in versus opt-out in the same form, or change the location of “No” and “Yes” boxes in a similar fashion.While we’re glad to see Microsoft changed this behavior in 1903, it’s unacceptable regardless. Users who do not want a local account are already forced to select prompts that deliberately guide them against this policy. Whether a Microsoft account represents a value-add is a matter of personal preference — I don’t personally believe it does and have never used one in the three years I’ve used Windows 10. But even if one disagrees, Microsoft has no business hiding the option this way. Either have the guts to remove it and deal with the blowback or stop trying to hide it in the first place. Stop turning your operating system into a competitive event in which your own user base has to jump through hoops to find functionality that was more readily exposed in previous editions.Now Read:Microsoft Blocks Windows 10 May 2019 Update on Surface Book 2Microsoft Kills Automatic Registry Backups in Windows 10Microsoft’s Dual-Screen Surface Could Launch in 2020, Run Android Apps Feige May’ve Teased Clea For ‘The Multiverse of Madness’ At first, the Get Windows 10 utility was friendly, with a “Cancel reservation” link in the lower-left. Clicking “Close” or the “X” in the upper-right hand corner closed the app. <><>12345 Proof Henry Cavill Isn’t a Very Good Dude at All Little Lucy From ‘Narnia’ is Head-Turningly Gorgeous Now at 23 The Most Inappropriate Comic Book Characters Ever Facebook Twitter Linkedin Pinterest Google Plus Reddit Hacker News Flipboard Email Copy 5shares This site may earn affiliate commissions from the links on this page. Terms of use. ‘Black Widow’ Set Photos Reveal The Main Villain Here’s What the Cast of the Matrix Trilogy Looks Like Today 16 Comments ‘Far From Home’ Brought Back An Old Character No One Noticedlast_img read more

Step Raises 225 Million Series A Led by Stripe to Disrupt Banking

first_img banking solutionCJ MacDonaldfundingGen ZMarketing Technology NewsNewsStep Previous ArticleL.A. Lakers Partner Wish Jumps to No. 1 in Earned Social Media Value Among NBA Jersey Patch SponsorsNext ArticleDXC Technology 600 Brings Great INDYCAR Racing, “Digital Fan Experience of the Future” to Texas Motor Speedway Step Raises $22.5 Million Series A Led by Stripe to Disrupt Banking for Teens PRNewswireJune 8, 2019, 8:02 amJune 10, 2019 Step Partners with Industry Leaders Mastercard, Stripe and Evolve to Power First-Of-Its-Kind, All-In-One Banking Solution for the Next Generation Waitlist Demand Exceeds 500,000 People in Less Than Three MonthsStep, the new modern-day financial services company built for families and teens, announced that it has closed $22.5 Million in Series A funding for its all-in-one banking solution that integrates certain key features and benefits of checking, savings, credit and debit cards into one easy-to-use no fee account. The funding round was led by Stripe, with participation from Will Smith’s Dreamers fund, Nas, Wndrco, Ronnie Lott, Matt Rutler, Kevin Gould, Noah and Jonah Goodhart as well as existing investors Crosslink Capital, Collaborative Fund and Sesame Ventures. The investment comes as Step’s waitlist demand exceeds 500,000 people since its offering was announced just a few months ago.“Teens and parents are ready for a seamless mobile banking experience, one meticulously designed for their needs,” said Step co-founder and CEO, CJ MacDonald.Step has partnered with Mastercard, Stripe and Evolve to launch the all-in-one solution, and it wants to be a teen’s first spending card and first bank account. The Step card is co-branded with Mastercard, a globally trusted and universally accepted payment network that provides cardholders with the peace of mind of Zero Liability Protection against unauthorized purchases or charges. Step’s bank accounts are securely held and FDIC insured through their sponsor bank, Evolve Bank and Trust. Evolve Bank and Trust, established in 1925, also enables easy ATM access for Step card holders at thousands of locations with no fees. Stripe provides issuing and processing technology that will help Step empower teens to fully participate in the economy while teaching financial literacy firsthand.Marketing Technology News: Liferay Announces New Content, Commerce and Headless Capabilities to Drive Personalization at Scaleprn“Teens and parents are ready for a seamless mobile banking experience, one meticulously designed for their needs,” said Step co-founder and CEO, CJ MacDonald. “We’ve partnered with the best in the business to create the right solutions for the next generation. As we move into a cashless era where digital content and transactions fuel our daily lives, the need for innovation in financial services increases. We want Gen Z to be more equipped and educated when it comes to money.”“Today’s young people are digitally savvy, having grown up with technology as a mainstay in their day-to-day lives. As a result, we also need to ensure that they become familiar with the unique aspects of digital payments including providing education about the various finance and payment products available,” said Sherri Haymond, EVP Digital Partnerships, North America for Mastercard. “Step has taken a thoughtful approach to developing an offering for teens and families that provides that first step in educating and acclimating today’s youth to help them gain confidence and awareness around their finances.”Marketing Technology News: E-discovery and Information Governance Expert Rena Verma Joins FTI ConsultingThe Step card is linked to the Step mobile app which enables users to send and receive money instantly, shop online or in-store as well as leverage digital wallet platforms such as Apple Pay and Google Pay. The Step card is integrated with a fee-free, interest-bearing deposit account. Step customers are not required to have a minimum balance and are not charged any hidden or overdraft fees. The Step offering also allows parents oversight into their teen’s spending, providing the opportunity for them to set limits and guidelines as well as have a view into card use.Marketing Technology News: Magna Imperio Systems Selects Vertebrae for 3D & AR Sales Enablementlast_img read more