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Fintech startup company, Banked, has partnered with British Airways to provide a new and effective form of payment for their airline loyalty members to pay for online purchases using BA Avios. BA Executive Club members can now use their Bank account via Banked and merchants will be able to offer the Avios option at a fraction of the cost of credit card processing fees. (2-4% vs 0.1%) This new partnership will lead to increased customer loyalty, conversion rates along with higher average order value. Banked is currently integrated with may of the largest Banks in the United Kingdom, including Barclays and HSBC. Banked CEO stated that 78% of consumers in the UK are making purchasing decisions based on loyalty points, which will extremely increase customer loyalty from the British Airways Executive Club members. In my opinion, this is an excellent way for loyalty club members, especially airline and hotel rewards members, to be able to utilize their points or miles that have been of no use due to the pandemic. This has already been integrated in the United States through Chase, American Express, and CitiBank where rewards points can be used for purchases online and even on Amazon. This was the correct step for BA because they will be able to retain loyal customers until travel restrictions are lightened.

In the United Kingdom, the hospitality and leisure industry has become the third largest recipient of Funding for Lending Scheme loans. The only industries that lead the hospitality and leisure sector are agriculture and healthcare. This industry is a major lending market for NatWest and the Royal Bank of Scotland, which sees over £200m FLS loans to date. The current head of leisure for commercial Banking at NatWest and RBS recently stated he was thrilled to help clients in this industry create cost effective funds. Additionally this team was created in September 2011 to focus on the hospitality industry. From 2011 to 2012 there was an increase in lending of eight percent. I find the concept of Banking dedicated to the hospitality industry to be both beneficial and interesting. I feel this can help a business focus on creating the right types of investments in the hospitality field in order for a business to succeed. This can help small hospitality firms, hotels, restaurants, and other related businesses to seek financial help from someone who understands the field in the Banking and investment industry. A dedicated system can focus on the needs of a hospitality business since it only focuses on this type of business for FLS loans.

The focus of this article is to point out why restaurants are targets for cyber attacks, what information hackers are looking to obtain and to identify what steps can be taken to protect consumer information. Hackers target a restaurant's POS system for the large amount of bank data it may record as well as any online banking occuring in the restaurant. The personal information from employees as well as any app or website utilized by guests, is prone to cyber attacks. The most important solutions rely on conducting background checks on employees and making sure that they are trained on what to look for. Restaurants can also put practices in place that involve using unique employee numbers, keeping computers out of guests' view, and using vendors with a stellar reputation.

Summary: The variety of gifting options has grown from a simple plastic gift card to virtual cards delivered by email, text, debit/credit cards and more. The prediction for 2013 will exceed a billion dollars of digital gifting for the holiday season and continue to grow. Digital gift cards have made giving easy due to the convenience of redemption. Paper coupons have proven to be successful to draw in consumer activity, but the digital revolution in virtual gifting is expected to explode as people are so connected to their mobile devices. Even with the convenience and growing popularity of digital gifting comes barriers and security issues. Such issues include personal banking security and privacy. Some small to midsize businesses may not be able to participate in digital gifting due to cost barriers or lack of technology. Due to electronic process, paper receipts will be obsolete. Computers aren't perfect so how does one resolve dollar discrepancies. One benefit of virtual giving is the bar codes/QR codes. Companies are able to collect and retain additional information of givers and receivers by scanning the bar code/QR Code. Often people are reluctant to provide contact information, but in this case they aren't being asked, they have no choice. This is a benefit to the companies because they can make other promotional offers to engage and possibly retain both parties, thereby increasing sales. There are a variety of methods of virtual gifting and redemption. One example is Giftly. Giftly adds the value of the gift to the recipient's credit or debit card which can be used anywhere. This is super convenient for many people and they are able to choose whatever they wish rather than receive a gift chosen for them. This is certainly the digital age version of sending a check via mail to a loved one. Other corporate examples that have impacted the transition from plastic gift cards to virtual gifting are Burger King, Dunkin Donuts, Applebee's and Starbu

Deutsche bank has long been viewed as a corporate leader on green issues-so much so that in 2010, a vice chairman of the bank was invited to join heads of state, finance ministers and other diplomacy types comprising a U.N. advisory panel to help find funding sources for projects related to climate change.

If a company adopts a new energy, the cost of change will soon be back from the energy bill savings , and this will be a long-term investment for the company, this is a favorable.

What a nightmare! One of the marketing strategies to attract new guests is data mining, the process of drilling through information contained in the data warehouse and analyzing this information, such as; back ground, preferences, and demographics. Unfortunately, hackers also mine this data for customer's credit card information.

This incident has happened more likely in Asia now, especially in my country, Viet Nam. Because Viet Nam is a new development country and we did not have the system like credit score and many banks try to get customers through processing of credit cards; therefore, many information of guests has been collected into server of the bank recently. And the problem associate with that is that the security of the banking system in Viet Nam is not up to date or very loose making many data breach has been reported. I believe this is not just stop at banking industry but other industries as well as Hotel because many information has been saved there. This incident proves that technology played a very important role for all industries not just some technical related industries.

TripActions is a travel management company for businesses and business travelers. Booking and managing travel can be done on the web or via a smartphone app. To fund the credit service, TripActions has raised a debt facility of up to $500 million led by Silicon Valley Bank with participation from Goldman Sachs and Comerica Bank.

In this week's lecture we learned that hospitality accounting is really no different than business accounting. This particular article is not specific to the hospitality industry; however, it provides insight on how new technology is shaping accounting which will also shape hospitality accounting. In this article written for Forbes it discusses the important role technology has played in accounting and bookkeeping. "Today's technological advances have surpassed the thought of outdated financials, lack of real-time data, remote control sessions, and even basic desktop-based software". Meaning what once took up hundreds of filing cabinets and boxes and usually hard to access and now at your finger tip. Xero's is one of the newest accounting software. This software changes the way business to business consultation are handled. They software eliminates the need for constant face to face meeting as "it allows for bank feeds to become integrated in real time so that bookkeepers and client can view, edit and add notes to statements as they please". Not only has technology changed the way your books are kept, but also how payroll is done. Software like Gusto has changed the traditional payroll into full-service payroll options available online. "This automated feature instantly saves the small business owner from the hassles that come with payroll complexities and other compliance matters."

This article discusses how banking and healthcare have been held to a historically high level of cyber security, but only recently has the hospitality industry. It highlights a cyber attack on Wyndham Hotels and their reluctant response to take corrective action. The article offers steps that a hospitality company should take to protect themselves as they launch and work to protect their guests, their information and their company.

This article discusses the use of electronic badges to analyze employee behavior. Over all it found that employees that spent time together were more productive. Other options to track and analyze employee behavior are with cell phones. The use of technology in badges to track and analyze employees was developed by the Massachusetts Institute of Technology Media Lab. The article discusses the next challenge is to learn from the data collected and then influence how people work together. The badges do not collect actual voice discussions of the employee. The data collected is limited to employee movement, the tone of their voice and with whom they are talking. Office design is one area that the data is being used. For example, a water cooler may be placed is a specific location to make sure certain employees come in contact with each other. Other studies have shown that employees, such as programmers, who work in groups, are 8% more efficient when collaboration on a project is needed then working remotely. Overall the general consensus of the article is that creativity and productivity are better when people work together on site.

In the year2000 it was predicted that B2B e-commerce would be a trillion dollar market. However, what actually happened was underwhelming compared to the predictions previously made as the market only made about $559 billion. Surprisingly, most businesses still buy and sell products the "old fashioned" way using fax, paper invoices and paper checks. The big question is, why aren't the large e-commerce companies, including Ebay and Amazon, banking in on this market? Amazon has been testing a wholesale site called AmazonSupply for about two years. However, much like Ebay, Amazon specializes in selling consumer-facing goods. There is one e-commerce company who is dominating the market. Alibaba is a Chinese retail giant that is leading the B2B e-commerce world. Alibaba has succeeded by opening up the world of international suppliers to companies without having to form a relationship with the manufacturer before purchasing supplies. By using Alibaba as a mediator between businesses and suppliers, businesses can buy products in bulk without actually having to travel to China to do it. Alibaba has given businesses access to many manufacturers that they most likely otherwise would not have access to.

In the year2000 it was predicted that B2B e-commerce would be a trillion dollar market. However, what actually happened was underwhelming compared to the predictions previously made as the market only made about $559 billion. Surprisingly, most businesses still buy and sell products the "old fashioned" way using fax, paper invoices and paper checks. The big question is, why aren't the large e-commerce companies, including Ebay and Amazon, banking in on this market? Amazon has been testing a wholesale site called AmazonSupply for about two years. However, much like Ebay, Amazon specializes in selling consumer-facing goods. There is one e-commerce company who is dominating the market. Alibaba is a Chinese retail giant that is leading the B2B e-commerce world. Alibaba has succeeded by opening up the world of international suppliers to companies without having to form a relationship with the manufacturer before purchasing supplies. By using Alibaba as a mediator between businesses and suppliers, businesses can buy products in bulk without actually having to travel to China to do it. Alibaba has given businesses access to many manufacturers that they most likely otherwise would not have access to.

For an individual shopper, Alibaba has also created Ali Express, which gives an individual access to the same staggering number of products at near wholesale prices. They do indeed appear to have broken the code on B2B sales while still providing availability to the consumer. Win-win.

The cloud will provide the digital infrastructure for the cities of tomorrow, where an estimated 6 billion of the world's population will live by 2045. A commercial aviation cloud will help airlines. A utilities cloud will automatically repair faults in the power grid to ensure a smooth supply of power to homes and businesses. A banking cloud will scan thousands of transactions per second to prevent fraud. The cloud will help society cope with growing volumes of data. High definition video will account for 89% of individual user traffic by 2025, of which image and video content will be for non-entertainment purposes. The cloud will support the emerging artificial intelligence technologies which will be adapted to mobile use, notably the cell phones which overlook PC sales in 2011. Although driverless cars are still a ways off, it will be realized soon, thanks to the power of the cloud.

Recent advances in big data analysis and artificial intelligence create powerful incentives for companies to accumulate information about every measurable aspect of their business. Due to the huge amount of information, the company's demand for cost reduction is higher and higher. Research shows that the amount of data recorded is growing at an annual rate of 30% to 40%. At the same time, the capacity of modern hard disks used to store most hard disks is growing at less than half the rate. Most of this information does not need immediate access. For things like this, tape is the perfect solution. In fact, most of the world's data are still stored on magnetic tapes, including data from basic sciences, such as particle physics and radio astronomy, human heritage and national archives, major films, banking, insurance, oil exploration, etc. There is even a group of people (including me, trained in materials science, engineering or Physics) whose job is to constantly improve tape storage.

I myself have a Square and swear by it. I use it to sell homemade goods and trinkets and fairs, as well as sell baked goods at fundraising events. The Square app and unit are free (after registry refund) and are simple to use. Just connect it to a bank account and you are off. You can take and keep track of both cash and credit card payments. Plus inventory tracking is easy. The Square turns any iPad, iPhone, iPod or android device into a traveling POS system. Plus there is no paper involved so it's a great first step to running a Green business. Square is the POS solution for small businesses. 

In this article we could check lots pros of the cloud PMS.This includes the ease-of-use, scope for customization and assurance of any-time, anywhere availability.When the Cloud first arrived, data security-related concerns were prominent. This is why computing solutions offered on the Cloud have risen as a dynamic solution for businesses handling the most sensitive kind of data, including financial/banking institutions and workplaces handling large volumes of personal information.Hotel owners have realized that investing in new IT infrastructure or manpower just isn't practical. This helps to raise the recall value of hotels and provides them with the most influential form of marketing recommendations from happier, more contented customers

Hotel wifi connection can be an easy access for identity thieves to stole personal information. Several surveys have show that there are many potential risks to get attacks through hotel internet.  WiFi Hacking Crimes Are Easy to Commit The security of hotel witless networks is a big issue and can be easily attempted by hackers. People may illegally use the internet access by staying in the nearby area of a hotel. Fake access point can also cause consumers in the hotel to lose their personal information such as credit card, banking or other confidential information.  The article also offers some solutions to avoid hackers. 

Reading your article brings us back to some topics that we covered in this weeks reading. The security of hotels is important in that industry, especially when guest give out important information. Like you mentioned for example, credit cards and other confidential information that hotels need and use to process the guests into the systems. It is important that hotels protect their guests by affirming that all systems they use are well protected.

This article report that sensitive data such as credit card information can be easily received through hotel wireless networks by cybercriminals due to the poor protection network. With the information, cybercriminals can make clone credit cards, which are indistinguishable from the real one and difficult to be traced. What worse is it takes months for hotels, customer and credit card companies to find out this criminal activity. Although hotels have began to step up security, this article notice that customers, especially those travel a lot, need to pay attention to their bank statement since the trend of hacker attacks didn't go down.

An unssuspecting person check into a hotel like any normal person would. The ever so common exchange, credit card for room key took place. The only difference was that the person that checked had done so with other intentions. The "guest" utilized an IP Telephone that was in this hotel room to hack into the hotel credit card database and steal credit cards, transmit them to a foreign country and then have money transferred to his offshore bank account. This happened but at the hands of Jason Ostrom, aa Vigilar senior security consultant. Ostrom was able to unplug teh telephone in his room, plug in the phone's ethernet canle into his laptop and hack away. Of course, he did this as part of his job in testing a company's security agaisnt viral hackers. His company offers free security testing using a downloadable software called VolP Hopper This article was extremely interesting because as a frequrnt traveler as well as a perosn in the hospitlaity industry I was very shocked at the ease that the credit card information could be stolen. When it comes to credit card security it is of the utmost importance for companies to be PCI compliant and spend whatever it is necessary to safeguard the information of their customers. The detrimental damage that a security breach can have on a person can be debilitating as leaders in the hospitality industry we must do everything possible to prevent attacks like this from happening. made me become extra cautious about using my credit cards.