16 Jun, 2017

Weekly News Roundup: Amazon, Wells Fargo, Instagram, Oscar Health and more….

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It’s that time again: the weekly news round up from retail, financial services, security, enterprise, and marketing industries that we all have been waiting for.

Let’s start this week with retail space.

RETAIL

Ascena Retail Group

Ascena Retail Group will close 250 to 650 retail stores nationwide. Some of these retail chains include Ann Taylor, Lane Bryant, Justice, and LOFT. This move is necessary due to a decline in revenue in the past year brought by online competition.

Amazon

Amazon announced this week that it will be buying Whole Foods for a deal of 13.4 billion. The online retailer is doing this in hopes to push further into the grocery market.

Walmart

The New York Times reports that Walmart seeks to buy men’s clothing company, Bonobos for $310 million.

HEALTHCARE

Sutter Health and Aetna

Sutter Health and Aetna announced that they will be launching a joint plan for residents of North Carolina in order to lower the cost of care as well as provide a personalized experience for customers.

Oscar Health and Cleveland Clinic

Forbes.com reported that The New York-based startup Oscar Health will partner with Cleveland Clinic in Ohio to deliver a unique healthcare experience because their focus has shifted to create individual coverage on the public exchange under the Affordable Care Act.

FINANCIAL SERVICES

Wells Fargo

Wells Fargo is under heat again with new lawsuits emerging, stating that they were changing bankrupt borrower’s mortgage terms with no consent.

Bank Of America

CNBC.com reported this week that Bank of America has announced they will lay off more employees due to their plan to cut costs. These layouts will happen in their main headquarters in Charlotte, North Carolina.

SECURITY & ENTERPRISE

Cloud Expansion

CIODive.com reports that companies have expressed concerned about the ever-growing Cloud expansion and the lack of security that may come along with it.

Since basic security tools do not support the new cloud workloads, security solutions sales are increasing with $114 billion dollars in revenue in 2016, which would be considered 30% annual growth since 2014, according to Forrester.

MARKETING

Uber

Uber has launched a new marketing campaign portraying that they can take their customers anywhere across the UK.

This campaign was built in hopes to build up their brand reputation after facing criticism for inappropriate workplace culture as well as the CEO Travis Kalanick stepping down with a leave of absence last week.

Instagram

Instagram is continuing to grow into a major platform that companies use in order to promote their brand using posts from widely viewed influence users.

With this growth, they have faced criticism because individuals sometimes can’t tell the difference between paid content or normal content.

This week, Instagram has launched a new feature that shows users the difference between the two posts. This will be valuable to the marketing world because brand awareness will be more accessible. 

Froot Loops

Froot Loops launched a new plan to impress millennials by partnering with two popular brands, Neff Headwear and State Bicycle Co.

ABOUT FSI TRANSFORMATION ASSEMBLY

Application to attend FSI Transformation Assembly taking place September 14-15, 2017 at Four Seasons Resort in Palm Beach, FL is now open.

Join experts from North America’s major financial services and insurance organizations like Keynote Speaker

FSI Transformation Assembly

Scott Dillon, EVP, CTO, and Head of Technology Infrastructure Services at Wells Fargo and Company. Scott will be providing unique insight into how his team provides availability, security, and global interconnectivity for the more than 70 million customers who interact 12 billion times a year in person through the company’s 9,000 stores and 12,000 ATMs, on the phone, or online at www.wellsfargo.com.

C-level IT leaders in the financial services and insurance sectors are dealing with many challenges as digital transformation becomes an imperative. Understanding not only the convergence of Mobile, Social, and Cloud but also the possible implications of Artificial Intelligence, Machine Learning and Blockchain is vital to stay ahead of the competition.

With digital enhancement comes a massive explosion in data, which is creating unprecedented manageability issues for firms around the world that can be linked to the following factors: expanding customer touch points, emerging types of structured and unstructured data, new customer engagement and social media platforms, rising data security, and controlling the overall data volume.

This is not just another “Financial Services” event. Spaces are reserved for the best in the business. Apply to attend here!

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