Robinhood offers compensation after service outages

What to read today: Transforming User Experience in Banking: As digital channels become a more critical part of the overall banking journey, banks' design teams need to strategize on how best to create user experiences (UX) that resonate with their customers. Business Insider Intelligence looks at winning UX design strategies employed by leading banks to reveal how other FIs can best capture the UX opportunity..

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April 4, 2020 Robinhood is offering users compensation after major outages. A few users reported that the compensation was $75, though Robinhood said some levels were higher, and that it was reaching out to users on a case-by-case basis. Offering compensation can help Robinhood avoid a legal battle and make amends with customers — but it might not be enough in all cases. And regardless of whether this move succeeds in mending some customer relationships, the real focus for Robinhood should be avoiding outages in the future. Business Insider Intelligence's Lea Nonninger has the full story. BRIEFING HIGHLIGHTS Cash App, Venmo, and Zelle may want to distribute US stimulus payments Cash App, Venmo, and Zelle are offering to help the US government send stimulus payments to consumers so that it can quickly reach more citizens. Read More → How the $2T US stimulus package could impact SMBs and alt lenders The US Senate announced a $350 billion loans package for small businesses to help them sustain their business during the coronavirus pandemic. Read More → Facebook and Google offer ad credits and grants for small businesses Google and Facebook will offer small businesses who advertise with them, and some news publishers, some relief in the form of ad credits and grants. Read More → Western Union brings agents online in response to pandemic Western Union launches "Digital Location," that lets consumers virtually speak with employees to help them make transfers amid the pandemic. Read More → Wells Fargo asset cap is preventing an additional $384B of loans Wells Fargo has the capacity to lend an additional $384 billion to consumers and businesses, but it can't due to the asset cap imposed by the Fed. Read More → Plaid has partnered with Microsoft for its new Money in Excel tool Plaid has partnered with Microsoft to let consumers automatically connect their finance data to Excel via a new service dubbed Money in Excel. Read More → US banks to reap billions for coronavirus SMB loans US banks stand to make billions from fees paid by the government for issuing loans to small businesses impacted by the pandemic. Read More → Huawei to hunker down in 2020 as it implements resiliency measures Huawei plans to address setbacks in 2020, and increased R&D spending and concentrated market share in China could see it fare better than competitors. Read More → Walmart alters store formats to address the coronavirus pandemic Walmart is making aisles in some of its stores one-direction only, meaning shoppers can only travel down an aisle on a predetermined path Read More → Citi is working on an online portal to facilitate small business loans Citigroup is working to develop its own online portal for the Small Business Administration's $350 billion Paycheck Protection Program. Read More → RESEARCH IN FOCUS Transforming User Experience in Banking As digital channels become a more critical part of the overall banking journey, banks' design teams need to strategize on how best to create user experiences (UX) that resonate with their customers. Business Insider Intelligence looks at winning UX design strategies employed by leading banks to reveal how other FIs can best capture the UX opportunity. Get the full report → AI in Content Marketing Report Advancements in subdivisions of AI, like natural language processing, have fostered the creation of a range of AI-powered content tools. For marketers, AI presents a new opportunity to accelerate and optimize the creation of written content. Business Insider Intelligence examines the current and potential role AI can play in enhancing an organization's content marketing efforts. Get the full report → Global Small Business Neobanks Report Business Insider Intelligence explores the key factors driving an explosion of neobank activity in the SMB segment and the strategies these upstarts are leveraging to capture shares of this lucrative banking vertical. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: [email protected] Manage your email preferences | Unsubscribe | Terms of Service | Privacy Policy © 2020 Insider Inc. 1 Liberty Plaza, New York, NY 10006