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National Bank of Indianapolis upgrades core to support automation

BankInovation

The National Bank of Indianapolis is automating aspects of its wealth management division and mortgage process after a recent core migration that upgraded the $3 billion bank’s core for the first time since the late 1990s.

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Rover180 Acquires Vemity To Boost AI Capabilities

PYMNTS

Located in Indianapolis, Rover180 provides alternative supply chain finance and factoring programs. Rover180’s affiliate partner, FreightRover , has also signed on to offer Vemity’s AI platform to clients in its supply chain management technology suite.

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Retail Furloughs Now Well Over 1M Amid Coronavirus

PYMNTS

The merchant’s eCommerce shops have closed as well, and top management at headquarters will have pay reduced as well. The furloughs are said to impact workers at the company’s headquarters in Indianapolis in addition to outlets and malls throughout the country. TJX Companies Inc., Maxx, HomeSense and HomeGoods stores in the U.S.

Retail 145
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Report: Layoffs Coming To Mall Owner Brookfield Properties

PYMNTS

Simon’s furloughs affected employees at its Indianapolis headquarters as well as at its malls and outlets nationwide, a source told CNBC at the time. In addition, upper management salaries are being slashed by as much as 30 percent. An unspecified number of workers were permanently laid off as well.

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Simon Property Group Looks To Raise $300 Million For Shell Company

PYMNTS

According to the release, “The target will likely be in an industry that will benefit from the experience, expertise, and operating skills of the management team” and Simon Property Group, the nation’s largest mall owner. Indianapolis-based Simon said the IPO will offer 30 million “units” at $10.

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B2B Financing Firm FreightRover Reportedly Impacted By Celadon Fraud Scam

PYMNTS

The Indianapolis-based firm, which works to accelerate B2B payments to truck operators, apparently has removed its CEO and COO — the result of a financial accounting scandal at another trucking firm where FreightRover executives had worked. The problems reportedly stem not from FreightRover, but from Celadon Group Inc.,

Fraud 135
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Coronavirus Triggers Furloughs For Over 1K Workers At Simon-Owned Malls

PYMNTS

The furloughs affect employees at Simon’s Indianapolis headquarters as well as at its malls and outlets nationwide, a source familiar with the situation told CNBC. In addition, upper management salaries are being slashed by up to 30 percent. An unspecified number of workers were permanently laid off as well.