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How TBC Bank Created a Neobank Called ‘Space’ in Just 8 Months

Bank Innovation

For a digital bank, time to market is one of the most important innovation mandates. For Lasha Gurgenidze at Tbilisi, Georgia-based TBC Bank, this mandate combined with low operational costs were the two fundamentals he and his team followed in launching TBC’s digital-first Space Neobank. “We

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US DOJ Charges 14 With $28M In PPP Fraud

PYMNTS

District Court for the Northern District of Georgia with fraudulently obtaining more than $4 million in PPP loans. The accused include Darrell Thomas, 34, of Johns Creek, Georgia; Andre Lee Gaines, 66, of Dallas, Georgia; Kahlil Gibran Green Sr., Rabbitt of the Justice Department’s Criminal Division. Justice Department.

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Georgia’s Push To Reopen Falls Flat As Consumers Stay Home

PYMNTS

began to get its early actual data (as opposed to theoretical predictions) as Alaska, Georgia, North Dakota, South Carolina, Tennessee and Texas and all began lifting some of the stricter parts of the social distancing regulations to allow slightly more social mobility, according to CNN. Retail President Leo Wiener told Bisnow. “I’ve

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Retailers Wary Of Opening As Some States Restart Economies

PYMNTS

Many large retail chains are wary of reopening even while some states move toward starting their economies again following closures due to COVID-19. are some of the large national chains noting they will not partake in the early phase of reopening in places like South Carolina and Georgia per The Wall Street Journal. and Macy’s Inc.

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COVID-19 Spikes Hinder Retail Recovery

PYMNTS

Back in late March when the pandemic first started to lock down retailing, PYMNTS published the first in a series of tracking reports showing clear evidence that the overwhelming factor in economic recovery would be one thing: COVID-19 and the ability to mitigate its effects. Again, that scenario is playing out this week. percent increase.

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Unrolling The Mystery Of The Great Toilet Paper Shortage

PYMNTS

the makers of Charmin) in particular has been hard hit because it is the nation’s largest maker of toilet paper and controls about 30 percent of the market. A team of a half-dozen P&G engineers from other plants were sent to the Albany, Georgia, plant to help the company get the idled machine up and producing in about two weeks.

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Walmart Forms Company To Sell Insurance Amid Healthcare Push

PYMNTS

The retailer is said to have active postings for licensed insurance agents and Medicare sales supervisors that read, “Yes, you read that right, Walmart now has an insurance agency.”. The retailer has also formed a collaboration with an upstart called Capital Rx that offers current information on prescription prices.