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Capital One has acquired the staff and software of Boston travel tech startup Lola in an effort to boost its FinTech footprint in the Boston area.As the Boston Globe reported Friday Oct. 8 , the deal will see Lola Co-founder Paul English and Chief Executive Mike Volpe join Capital One and help shepherd the banks tech operations out of its new office in Kendall Square. They want Boston to be another large hub, Volpe said. Were going to be doing a lot of hiring here, a lot of growing. According to the Globe, Volpe will help oversee the development of Capital Ones B2B payment offerings, with English acting as entrepreneur in residence, advising on technical innovation. Its an innovative, tech forward culture, especially for a large bank, English said. Im excited about developing more expertise in fintech, and
stanley mug bringing more fintech jobs to Boston. Lola has closed its office and its corporate con
stanley hrnek tracts, refunding clients who were owed money. The company struggled during the COVID pandemic, which forced it to shed employees and pivot to offer expense management tools in addition to travel.The remaining members of Lolas 57-person team will now become Capital One employees. Volpe said an additional eight
stanley ca people were not offered work at Capital One or declined a job. These workers will help the bank create payment-related products and services for business customers, joining about 250 Capital One workers already based in Kendall Square.According to the Globe, the deal with Ca Ybju Activist Takes $1B Stake In Amex
Just a day after it was announced that Visa was aligning with Stripe 鈥?both聽as an investor聽and as a strategic partner 鈥?MasterCard CEO Ajay Banga explained MasterCards involvement with the Silicon Valley tech company as part of his perspective on MasterCards competitive advantage in the digital payments space.My view is generally is that there are going to be a ton of players playing there. We a
gourde stanley re actively involved in Stripe with many different aspects of what they do. We will be doing other things with them, Banga said during the company second quarter earnings call yesterday July 29 . You don ;t have to invest with them to do good commercial deals with them 鈥?although it may make strategic sense sometimes to invest.聽I don ;t rule out any of these. I just have a view: keep yourself聽open, play with all of t
stanley website hem, find your company best interests there and remain relevant in the value chain. T
stanley quencher hat what we ;re trying to do.For MasterCard, it all goes back to being open and technology agnostic in a space, Banga noted, thats changing rapidly and won ;t have room for everyone.We are just keen to be a regular player playing with all of them. We ;ve had a view through many earnings calls and investor meetings that we ;re not going to pick winners and losers in this. Because this thing is evolving at a rate that is very fast and people who looked like winners three or four years ago are no longer e
