Connected Economy: Caesars Taps Ingo for Payouts


Today in the connected economy, Caesars Sportsbook has formed a partnership with Ingo Money to help bettors get returns as quickly as possible.

Plus, digital payment and banking technology firm i2c is helping retailer Majid Al Futtaim launch a new payment solution, and Pinterest is working with mindfulness app Headspace to improve its creators wellbeing.

Caesars Sportsbook Taps Ingo Money for Instant Payouts

Looking to ensure bettors get their returns as fast as possible, Caesars Sportsbook is working with Ingo Money to power push-to-card instant payouts inside of the Caesars Sportsbook app.

Trent Striplin, Caesars Sportsbooks’ vice president of payments and fraud, told PYMNTS’ Karen Webster that instant payouts are key to the company’s gaming experience, noting “the speed of withdrawals is something that’s very important to people in their experience with the Sportsbook.”

Pinterest Teams With Headspace to Support Creator Wellbeing

Pinterest is collaborating with mindfulness company Headspace to offer creators tools for things like managing stress, increasing positivity and getting better sleep.

The partnership aims to help Pinterest creators stay balanced with access to Headspace’s library, which features things like guided meditation, eyes-open exercises like mindful walks and runs, and breathing and wind-down exercises.

i2c, Retailer Majid Al Futtaim Launch Payment, Rewards Solution

Digital payment and banking technology firm i2c has joined forces with retailer Majid Al Futtaim to debut a new payment solution that complements the retailer’s rewards program.

Majid Al Futtaim owns and operates shopping malls, communities and retail and leisure businesses across the Middle East, Africa and Asia. With the collaboration, customers will be able to use the new SHAREPay solution to make payments, earn rewards points and redeem points with one tap.

BankiFi, Axiom Bank Team to Improve SMB Banking

Embedded finance company BankiFi has formed a partnership with Axiom Bank, designed to improve banking for small- to medium-sized businesses (SMBs). With the partnership, Axiom Bank’s SMB customers will be able to keep better track of their finances with BankiFi’s embedded banking services.

“Financial institutions in the U.S. are facing an existential threat from fintech platforms, national banks, and accounting package vendors that are offering a competitive suite of payment solutions and financial services to SMBs,” said Keith Riddle, CEO of BankiFi Americas. “Through BankiFi, these valuable institutions can begin fighting back and regain the trust of SMB customers.”

Nobel Prize in Economics Cements Banks’ Unique and Trusted Role

The Nobel Prize in Economic Services has been awarded to former Federal Reserve Chief Ben Bernanke and a pair of economists: Douglas Diamond of the University of Chicago and Washington University’s Philip H. Dybvig.

While the Nobel Committee said the recipients’ work touched on everything from the role of banks in the Great Depression to the Great Financial Crisis, the committee also singled out work that showed the intermediary role banks play in the modern economy.

“Diamond and Dybvig … presented a theory of ‘maturity transformation’ and showed that an institution using demand deposits to finance long-term projects is the most efficient arrangement,” even as banks are vulnerable to bank runs, the committee said.

Connected Economy: Caesars Taps Ingo for Payouts

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking services, just 9.3% call them their primary bank.

We’re always on the lookout for opportunities to partner with innovators and disruptors.

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