Social media in the financial services sector refers to the use of social media by the financial services sector to promote and distribute financial services. Social media is used in various aspects of the financial industry including customer service, marketing, and product development. It has enabled financial institutions to extend their reach through direct and real-time communication with customers, fostering more personal connections. It also allows individuals to talk to other individuals creating lending and trading via social groups as well as developing new financial services by fintech startup companies. In terms of marketing, social media is utilized by both traditional financial companies as well as disruptive fintech companies such as peer-to-peer lending (P2P) companies. The financial industry has used information technology since its inception in the 1960s and social media fits in with this ongoing development. Larger, traditional financial firms have integrated social media into their marketing strategies. Companies in the financial sector are subject to strict regulations that include how they use social media. In the United States, the Financial Industry Regulatory Authority (FINRA) is a key regulator that sets rules how financial firms can interact with consumers. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that financial advice is not provided by unqualified personnel, such as influencers. == History == In 2003, at the beginning of social media development, MySpace was founded as a "social networking service." It allowed people to create a profile, connect with other people, and post videos, pictures, and songs. As MySpace grew in popularity, it attracted interest from companies wishing to promote their brands on the social platform. They were joined by Facebook and in 2010 by Instagram. Financial service firms were initially slow to adapt to promotion via social media but soon joined other big firms after they saw the success other industries had in engaging with younger people. == Uses == === Branding === While companies are able to connect with more people remotely through providing online financial services, their branding strategy has shifted from customized to standardized. Prior to the outbreak of technology, most banks used customized branding where they targeted only customers in their regions. Businesses can now use technology to operate beyond their geographic location and maintain a consistent image across multiple countries with standardized branding. By being able to extend a consistent brand reputation across a wider geographic location, financial services companies can take advantage of economies of scale in advertising cost, lower administrative complexity, lower entry into new markets, and improved cross-border learning within the company. === Customer engagement === Online banking reduced face-to-face interaction between customers and their banks. Most banking transactions can now be conducted online or through mobile devices, rather than at a local branch with a teller. Social media provides a channel for firms to maintain personal contact with customers, replicating some of the interaction that was previously available at local branches. For example, a bank's Facebook page may feature an employee profile describing their job duties, which serves to present a more human face for larger institutions. === Lending === Social media is a core marketing channel for online peer-to-peer lending as well as small business lenders. Since these companies operate exclusively online, it makes sense for them to market online through social media channels. They are able to grow and find new lenders and buyers by utilizing social networks. === Trading === Social trading is an alternative way of analyzing financial data by looking at what other traders are doing and comparing, copying and discussing their techniques and strategies. Prior to the advent of social trading, investors and traders were relying on fundamental or technical analysis to form their investment decisions. Using social trading investors and traders could integrate into their investment decision-process social indicators from trading data-feeds of other traders. Investors also use platform like Reddit, Signal messaging or WeChat to create social communities to discuss investments and finance. In some cases they use this to join together using meme stocks to move financial markets, such as the 2021 GameStop short squeeze incident. They can also use social groups to launch and promote new products such as cryptocurrencies. Investing application like WeBull incorporate a forum style messaging system on each stock that is available for trading. Financial brokers such as Fidelity Investments, Interactive Brokers, and E-Trade have moved to incorporate community features in their investment apps. == Regulations == The use of social media by investors and financial services professionals for business purposes is subject to regulatory oversight, in the United States this is done primarily by the Financial Industry Regulatory Authority (FINRA). FINRA's rules, designed to protect investors from misleading information in all communications and this also applies to social media communications. This includes ensuring that social media posts follow financial advertising rules, such as being fair and balanced and not providing misleading information, and that advice is not provided by unqualified personnel, such as influencers and bank staff acting in a personal capacity. Financial firms have to maintain books and records of all interaction with customers and this includes social media. == New products and services == Social media has created entirely new products for the financial services sector, revolutionizing products and developing new industries through the merging of social technology and financial services. Fintech startups use social media to promote products to get them established. Several developing nations have used social media to leapfrog traditional financial technology; for example, WeChat Pay, which developed from the Chinese WeChat social media platform, became a major payment system in China within a few years. In 2015, according to consulting firm Accenture, 390 million people in China had registered to use mobile banking. This figure is more than the population of the United States. In the United States, the fintech company Venmo combines technology and financial services on a social platform. Other financial technology companies that have used social media to develop or promote financial products include: Lending Club – One of the first peer-to-peer lending businesses OnDeck Capital – A US online-only lending business Funding Circle – A UK-based online lending company Wise – A global online money transfers company Kabbage – A US online unsecured loan company later acquired by American Express Avant – A US online unsecured loan company Zopa – A UK online neobank providing peer-to-peer lending == Risks == === Reputational damage === Due to the real-time nature of social media, financial services companies can be impacted by potential reputational issues. Any negative experience by customers can easily be shared online and could become a viral phenomenon, those comments could likely have a detrimental effect on the company’s stock price and reputation. On the other hand, any positive experience a customer has can also be shared online. However, positive experiences are much less likely to become viral. === Scams === The nature of social media makes it easy to target individuals without being seen by the wider community, this allows scammers to target individuals. Example include romance scams such as the pig butchering scam where an individual is tricked to transfer funds or assets to the scammer over social media making it hard for law enforcement to track them or recover funds. === Customer privacy === Customer privacy is important for the financial services industry. It is critical that customer information such as a bank account numbers and other personal information is kept private. However, this information can be leaked if for example, a customer is unhappy with a bank’s service, they may tweet at the bank expressing their frustrations and include their name and account number.
Integreat
Integreat (former project name: Refguide+) is an open source mobile app that provides local information and services tailored to refugees and migrants coming to Germany. The content is maintained by local organizations, such as local governments or integration officers, and made available in locally relevant languages. It was developed by Tür an Tür - Digitalfabrik gGmbH (formerly Tür an Tür - Digital Factory gGmbH) in Augsburg together with a team of researchers and students from the Technical University of Munich. == History == In 1997, the Augsburg association "Tür an Tür", which has been working for refugees since 1992, published the brochure "First Steps", which answers local everyday questions. Since addresses and contact persons change quickly, some information is already outdated after a few weeks. Students of business informatics at the Technical University of Munich therefore developed the app Integreat within eight months together with the association and the social department of the city of Augsburg. The app was then also used by other cities and districts within months. As of February 3, 2022, information is available at 72 locations, including Munich, Dortmund, Nuremberg and Augsburg. == Mode of action == Refugees need information on areas such as registration, contact persons, health care, education, family, work and everyday life. Integreat seeks to provide refugees with this information by allowing them to select their geographic location and receive locally relevant information. This information is available offline once the app is opened so it can be used without an internet connection. In addition, the content is translated into the native languages of refugees and migrants to facilitate access. The content is licensed with a CC BY 4.0 license to facilitate collaboration and translation between content creators and dissemination of the content. Integreat is now being used for a broader migrant audience and says it can also support professionals, volunteers, and counseling centers. == Comparable mobile apps == Other mobile apps that are likewise intended to provide initial orientation for refugees include the app Ankommen, a joint project of the Federal Office for Migration and Refugees, the Goethe-Institut, the Federal Employment Agency and the Bavarian Broadcasting Corporation, which is intended as a companion for the first few weeks in Germany, and the Welcome App, a company-sponsored non-profit initiative for information about Germany and asylum procedures with a regional focus, and a book by the Konrad Adenauer Foundation (KAS) and Verlag Herder with a corresponding app Deutschland - Erste Informationen für Flüchtlinge (Germany - First Information for Refugees) as a companion for Arabic-speaking refugees in Germany.
Screen space ambient occlusion
Screen space ambient occlusion (SSAO) is a computer graphics technique for efficiently approximating the ambient occlusion effect in real time. It was developed by Vladimir Kajalin while working at Crytek and was used for the first time in 2007 by the video game Crysis, also developed by Crytek. == Implementation == The algorithm is implemented as a pixel shader, analyzing the scene depth buffer which is stored in a texture. For every pixel on the screen, the pixel shader samples the depth values around the current pixel and tries to compute the amount of occlusion from each of the sampled points. In its simplest implementation, the occlusion factor depends only on the depth difference between sampled point and current point. Without additional smart solutions, such a brute force method would require about 200 texture reads per pixel for good visual quality. This is not acceptable for real-time rendering on current graphics hardware. In order to get high quality results with far fewer reads, sampling is performed using a randomly rotated kernel. The kernel orientation is repeated every N screen pixels in order to have only high-frequency noise in the final picture. In the end this high frequency noise is greatly removed by a NxN post-process blurring step taking into account depth discontinuities (using methods such as comparing adjacent normals and depths). Such a solution allows a reduction in the number of depth samples per pixel to about 16 or fewer while maintaining a high quality result, and allows the use of SSAO in soft real-time applications like computer games. Compared to other ambient occlusion solutions, SSAO has the following advantages: Independent from scene complexity. No data pre-processing needed, no loading time and no memory allocations in system memory. Works with dynamic scenes. Works in the same consistent way for every pixel on the screen. No CPU usage – it can be executed completely on the GPU. May be easily integrated into any modern graphics pipeline. SSAO also has the following disadvantages: Rather local and in many cases view-dependent, as it is dependent on adjacent texel depths which may be generated by any geometry whatsoever. Hard to correctly smooth/blur out the noise without interfering with depth discontinuities, such as object edges (the occlusion should not "bleed" onto objects). Because SSAO operates only on the current depth buffer, it can miss occluding geometry that is not rasterized into the z-buffer and may produce undersampling-related artifacts.
Security awareness
Security awareness is the knowledge and attitude members of an organization possess regarding the protection of the physical, and especially informational, assets of that organization. However, it is very tricky to implement because organizations are not able to impose such awareness directly on employees as there are no ways to explicitly monitor people's behavior. That being said, the literature does suggest several ways that such security awareness could be improved. Many organizations require formal security awareness training for all workers when they join the organization and periodically thereafter, usually annually. Another main force that is found to have a strong correlation with employees' security awareness is managerial security participation. It also bridges security awareness with other organizational aspects. == Relationship between Security Awareness and Human Factors == Employees' behavior, cognitive biases, and decision-making processes influence the effectiveness of security measures. Research indicates that psychological factors, such as optimism bias, overconfidence, and habitual behaviors, can undermine security awareness initiatives. To address these challenges, organizations are increasingly using behavioral analytics and security nudges—subtle prompts like password reminders and phishing warnings—to encourage secure behavior. Human error remains the leading cause of cybersecurity incidents. A 2023 IBM Security report found that 95% of breaches are due to human mistakes, including falling for phishing emails, using weak passwords, and mishandling sensitive data. Organizations emphasize security awareness training as a key strategy to mitigate this risk. It is particularly important for leadership to foster a culture of cybersecurity and to provide targeted training to increase security awareness among all employees across the organization. == Coverage == Topics covered in security awareness training include: The nature of sensitive material and physical assets they may come in contact with, such as trade secrets, privacy concerns and government classified information Employee and contractor responsibilities in handling sensitive information, including review of employee nondisclosure agreements Requirements for proper handling of sensitive material in physical form, including marking, transmission, storage and destruction Proper methods for protecting sensitive information on computer systems, including password policy and use of two-factor authentication Other computer security concerns, including malware, phishing, social engineering, etc. Workplace security, including building access, wearing of security badges, reporting of Incidents, forbidden articles, etc. Consequences of failure to properly protect information, including potential loss of employment, economic consequences to the firm, damage to individuals whose private records are divulged, and possible civil and criminal penalties Security awareness means understanding that there is the potential for some people to deliberately or accidentally steal, damage, or misuse the data that is stored within a company's computer systems and throughout its organization. Therefore, it would be prudent to support the assets of the institution (information, physical, and personal) by trying to stop that from happening. According to the European Network and Information Security Agency, "Awareness of the risks and available safeguards is the first line of defence for the security of information systems and networks." "The focus of Security Awareness consultancy should be to achieve a long term shift in the attitude of employees towards security, whilst promoting a cultural and behavioural change within an organisation. Security policies should be viewed as key enablers for the organisation, not as a series of rules restricting the efficient working of your business." == Role of Gamification and Interactive Training == Modern security awareness programs increasingly utilize gamification, phishing simulations, and interactive learning modules. Studies have shown that engaging employees through serious games, reward systems, and real-world attack simulations improves retention and application of security practices. One example is phishing simulation training, where employees receive simulated phishing emails to test their ability to recognize threats. Research indicates that repeated exposure to such exercises leads to long-term improvements in security awareness. == Legislation and Compliance Requirements == Many industries mandate security awareness training to comply with regulations such as: General Data Protection Regulation (GDPR) – requires organizations to ensure data protection awareness among employees. Health Insurance Portability and Accountability Act (HIPAA) – mandates security awareness programs for healthcare providers. Payment Card Industry Data Security Standard (PCI-DSS) – enforces security training for businesses handling payment card information. == Measuring security awareness == In a 2016 study, researchers developed a method of measuring security awareness. Specifically they measured "understanding about circumventing security protocols, disrupting the intended functions of systems or collecting valuable information, and not getting caught" (p. 38). The researchers created a method that could distinguish between experts and novices by having people organize different security scenarios into groups. Experts will organize these scenarios based on centralized security themes where novices will organize the scenarios based on superficial themes. Security awareness is also assessed through real-time security metrics, such as tracking phishing click rates, password reuse tendencies, and policy adherence rates. Organizations are adopting continuous monitoring strategies to provide immediate feedback to employees about risky behavior and suggest corrective actions. == Evolving cyber threats and security awareness strategies == As cyber threats continue to evolve, security awareness programs must adapt to new attack vectors, such as AI-driven cyberattacks, deepfakes, and insider threats. ENISA's Threat Landscape report highlights the increasing prominence of these emerging threats, stressing the need for security measures that address both traditional attacks like ransomware and malware, as well as more sophisticated techniques such as Living Off Trusted Sites (LOTS) and advanced evasion methods used by cybercriminals.
Frame grabber
A frame grabber is an electronic device that captures (i.e., "grabs") individual, digital still frames from an analog video signal or a digital video stream. It is usually employed as a component of a computer vision system, in which video frames are captured in digital form and then displayed, stored, transmitted, analyzed, or combinations of these. Historically, frame grabber expansion cards were the predominant way to interface cameras to PCs. Other interface methods have emerged since then, with frame grabbers (and in some cases, cameras with built-in frame grabbers) connecting to computers via interfaces such as USB, Ethernet and IEEE 1394 ("FireWire"). Early frame grabbers typically had only enough memory to store a single digitized video frame, whereas many modern frame grabbers can store multiple frames. Modern frame grabbers often are able to perform functions beyond capturing a single video input. For example, some devices capture audio in addition to video, and some devices provide, and concurrently capture frames from multiple video inputs. Other operations may be performed as well, such as deinterlacing, text or graphics overlay, image transformations (e.g., resizing, rotation, mirroring), and conversion to JPEG or other compressed image formats. To satisfy the technological demands of applications such as radar acquisition, manufacturing and remote guidance, some frame grabbers can capture images at high frame rates, high resolutions, or both. == Circuitry == Analog frame grabbers, which accept and process analog video signals, include these circuits: Input signal conditioner that buffers the analog video input signal to protect downstream circuitry Video decoder that converts SD analog video (e.g., NTSC, SECAM, PAL) or HD analog video (e.g., AHD, HD-TVI, HD-CVI) to a digital format Digital frame grabbers, which accept and process digital video streams, include these circuits: Digital video decoder that interfaces to and converts a specific type of digital video source, such as Camera Link, CoaXPress, DVI, GigE Vision, LVDS, or SDI Circuitry common to both analog and digital frame grabbers: Memory for storing the acquired image (i.e., a frame buffer) A bus interface through which a processor can control the acquisition and access the data General purpose I/O for triggering image acquisition or controlling external equipment == Applications == === Healthcare === Frame grabbers are used in medicine for many applications, including telenursing and remote guidance. In situations where an expert at another location needs to be consulted, frame grabbers capture the image or video from the appropriate medical equipment, so it can be sent digitally to the distant expert. === Manufacturing === "Pick and place" machines are often used to mount electronic components on circuit boards during the circuit board assembly process. Such machines use one or more cameras to monitor the robotics that places the components. Each camera is paired with a frame grabber that digitizes the analog video, thus converting the video to a form that can be processed by the machine software. === Network security === Frame grabbers may be used in security applications. For example, when a potential breach of security is detected, a frame grabber captures an image or a sequence of images, and then the images are transmitted across a digital network where they are recorded and viewed by security personnel. === Personal use === In recent years with the rise of personal video recorders like camcorders, mobile phones, etc. video and photo applications have gained ascending prominence. Frame grabbing is becoming very popular on these devices. === Astronomy & astrophotography === Amateur astronomers and astrophotographers use frame grabbers when using analog "low light" cameras for live image display and internet video broadcasting of celestial objects. Frame grabbers are essential to connect the analog cameras used in this application to the computers that store or process the images.
Automatic summarization
Automatic summarization is the process of shortening a set of data computationally, to create a subset (a summary) that represents the most important or relevant information within the original content. Artificial intelligence (AI) algorithms are commonly developed and employed to achieve this, specialized for different types of data. Text summarization is usually implemented by natural language processing methods, designed to locate the most informative sentences in a given document. On the other hand, visual content can be summarized using computer vision algorithms. Image summarization is the subject of ongoing research; existing approaches typically attempt to display the most representative images from a given image collection, or generate a video that only includes the most important content from the entire collection. Video summarization algorithms identify and extract from the original video content the most important frames (key-frames), and/or the most important video segments (key-shots), normally in a temporally ordered fashion. Video summaries simply retain a carefully selected subset of the original video frames and, therefore, are not identical to the output of video synopsis algorithms, where new video frames are being synthesized based on the original video content. == Commercial products == In 2022 Google Docs released an automatic summarization feature. == Approaches == There are two general approaches to automatic summarization: extraction and abstraction. === Extraction-based summarization === Here, content is extracted from the original data, but the extracted content is not modified in any way. Examples of extracted content include key-phrases that can be used to "tag" or index a text document, or key sentences (including headings) that collectively comprise an abstract, and representative images or video segments, as stated above. For text, extraction is analogous to the process of skimming, where the summary (if available), headings and subheadings, figures, the first and last paragraphs of a section, and optionally the first and last sentences in a paragraph are read before one chooses to read the entire document in detail. Other examples of extraction that include key sequences of text in terms of clinical relevance (including patient/problem, intervention, and outcome). === Abstractive-based summarization === Abstractive summarization methods generate new text that did not exist in the original text. This has been applied mainly for text. Abstractive methods build an internal semantic representation of the original content (often called a language model), and then use this representation to create a summary that is closer to what a human might express. Abstraction may transform the extracted content by paraphrasing sections of the source document, to condense a text more strongly than extraction. Such transformation, however, is computationally much more challenging than extraction, involving both natural language processing and often a deep understanding of the domain of the original text in cases where the original document relates to a special field of knowledge. "Paraphrasing" is even more difficult to apply to images and videos, which is why most summarization systems are extractive. === Aided summarization === Approaches aimed at higher summarization quality rely on combined software and human effort. In Machine Aided Human Summarization, extractive techniques highlight candidate passages for inclusion (to which the human adds or removes text). In Human Aided Machine Summarization, a human post-processes software output, in the same way that one edits the output of automatic translation by Google Translate. == Applications and systems for summarization == There are broadly two types of extractive summarization tasks depending on what the summarization program focuses on. The first is generic summarization, which focuses on obtaining a generic summary or abstract of the collection (whether documents, or sets of images, or videos, news stories etc.). The second is query relevant summarization, sometimes called query-based summarization, which summarizes objects specific to a query. Summarization systems are able to create both query relevant text summaries and generic machine-generated summaries depending on what the user needs. An example of a summarization problem is document summarization, which attempts to automatically produce an abstract from a given document. Sometimes one might be interested in generating a summary from a single source document, while others can use multiple source documents (for example, a cluster of articles on the same topic). This problem is called multi-document summarization. A related application is summarizing news articles. Imagine a system, which automatically pulls together news articles on a given topic (from the web), and concisely represents the latest news as a summary. Image collection summarization is another application example of automatic summarization. It consists in selecting a representative set of images from a larger set of images. A summary in this context is useful to show the most representative images of results in an image collection exploration system. Video summarization is a related domain, where the system automatically creates a trailer of a long video. This also has applications in consumer or personal videos, where one might want to skip the boring or repetitive actions. Similarly, in surveillance videos, one would want to extract important and suspicious activity, while ignoring all the boring and redundant frames captured. At a very high level, summarization algorithms try to find subsets of objects (like set of sentences, or a set of images), which cover information of the entire set. This is also called the core-set. These algorithms model notions like diversity, coverage, information and representativeness of the summary. Query based summarization techniques, additionally model for relevance of the summary with the query. Some techniques and algorithms which naturally model summarization problems are TextRank and PageRank, Submodular set function, Determinantal point process, maximal marginal relevance (MMR) etc. === Keyphrase extraction === The task is the following. You are given a piece of text, such as a journal article, and you must produce a list of keywords or key[phrase]s that capture the primary topics discussed in the text. In the case of research articles, many authors provide manually assigned keywords, but most text lacks pre-existing keyphrases. For example, news articles rarely have keyphrases attached, but it would be useful to be able to automatically do so for a number of applications discussed below. Consider the example text from a news article: "The Army Corps of Engineers, rushing to meet President Bush's promise to protect New Orleans by the start of the 2006 hurricane season, installed defective flood-control pumps last year despite warnings from its own expert that the equipment would fail during a storm, according to documents obtained by The Associated Press". A keyphrase extractor might select "Army Corps of Engineers", "President Bush", "New Orleans", and "defective flood-control pumps" as keyphrases. These are pulled directly from the text. In contrast, an abstractive keyphrase system would somehow internalize the content and generate keyphrases that do not appear in the text, but more closely resemble what a human might produce, such as "political negligence" or "inadequate protection from floods". Abstraction requires a deep understanding of the text, which makes it difficult for a computer system. Keyphrases have many applications. They can enable document browsing by providing a short summary, improve information retrieval (if documents have keyphrases assigned, a user could search by keyphrase to produce more reliable hits than a full-text search), and be employed in generating index entries for a large text corpus. Depending on the different literature and the definition of key terms, words or phrases, keyword extraction is a highly related theme. ==== Supervised learning approaches ==== Beginning with the work of Turney, many researchers have approached keyphrase extraction as a supervised machine learning problem. Given a document, we construct an example for each unigram, bigram, and trigram found in the text (though other text units are also possible, as discussed below). We then compute various features describing each example (e.g., does the phrase begin with an upper-case letter?). We assume there are known keyphrases available for a set of training documents. Using the known keyphrases, we can assign positive or negative labels to the examples. Then we learn a classifier that can discriminate between positive and negative examples as a function of the features. Some classifiers make a binary classification for a test example, while others assign a probability of being a keyphrase. For ins
Roadie (app)
Roadie Inc. is an American package delivery company for business and private same-day, urgent and scheduled delivery in the United States. The company was founded in 2014 and launched its web and mobile apps in January 2015. As of September 2021, it reported having over 200,000 drivers covering more than 20,000 zip codes. Roadie states it matches gig drivers with deliveries that are directed along the routes they plan to travel. Major customers include The Home Depot, Walmart, Tractor Supply Company, Best Buy and Delta Air Lines. In September 2021, UPS entered into an agreement to acquire Roadie for an undisclosed amount with the transaction expected to be closed in the fourth quarter. == History == Roadie was founded by Marc Gorlin, a co-founder of Kabbage and founder of VerticalOne and Pretty Good Privacy, as a same-day and urgent delivery company in 2014. In January 2015, Roadie launched the first consumer to consumer (C2C) version of its app with a Series A funding round of $10 million. In February, Roadie announced a partnership with Waffle House to designate its restaurants "Roadie Roadhouses", offering a neutral meeting place for drivers and senders. Drivers receive free food and drink through the partnership. In May, late-night host Jimmy Kimmel discussed the Roadie-Waffle House relationship in an opening monologue on Jimmy Kimmel Live!. Roadie's driver network expanded significantly as a result. Roadie closed a Series B round of funding in June, raising $15 million, and its first business to business (B2B) app version launched that November. In 2015, Delta Air Lines signed an agreement with Roadie to deliver mishandled luggage, becoming Roadie’s first enterprise customer. Roadie launched a pilot program with Delta at Daytona Beach International Airport. Since then, the relationship has expanded to include over 70 airports around the United States and a first mile/last mile line haul relationship with Delta Cargo. In 2017, the company signed a deal with The Home Depot, also based in Atlanta, and in February 2019, closed a Series C round of funding. In October 2019, Roadie and Delta Cargo announced a partnership to create a same-day cross-country delivery offering, DASH Door-to-Door, the first of its kind from a U.S. passenger airline. Tractor Supply Company became the first general merchandise retailer to offer same-day delivery from every store in April 2020 through Roadie. In September 2021, UPS entered an agreement to acquire Roadie for an undisclosed amount. The transaction was expected to close in the fourth quarter of 2021. Roadies, which at the time reported having 200,000 operators serving over 20,000 ZIP Codes, was expected to continue operations under its name as a separate company with no transfer of packages between the UPS and Roadies networks. The relationship between the companies goes back several years with UPS being an early investor. Earlier in 2021, UPS had begun a pilot program testing same-day deliveries via Roadies. == Operations == === On-the-way model === Roadie’s app works by connecting drivers with senders, businesses or consumers who have items that need to be delivered. Deliveries within the app are referred to as "Gigs", which Gorlin said was inspired by live music road crews, also known as roadies. A sender creates a Gig on Roadie's web app or via its API. Drivers then review deliveries in their area on their mobile app and may choose to offer to take on individual or groups of deliveries along the same route. Gigs are then assigned to drivers by Roadie's algorithm. According to the company, this model encourages drivers to choose Gigs that align with their planned schedules and routes. Roadie calls this its "on-the-way" delivery model. The go-to-market approach taken by Roadie also differs from its competitors. Rather than launching in major cities and sequentially adding new markets city-by-city, Roadie launched nationwide from its inception. The company relies on retail and airline partners to drive volume of deliveries in individual markets, which in turn builds up a network of drivers in those areas, making it easier for small businesses and consumers to send deliveries as well. This strategy allows Roadie to reach smaller cities and towns in rural or exurban communities, traditionally difficult markets for delivery providers to serve. === Service lines === Roadie’s platform is most popular for same-day, on-demand or scheduled first mile/last mile delivery, especially delivery from stores and warehouses. Some retailers also use it for returns and reverse logistics, moving inventory, and hot shot shipping. Roadie operates 1-hour grocery delivery for Walmart, and delivers perishable food items for others including small, independent retailers. The on-the-way model complements the grocery industry’s just in time model, making last-mile deliveries that do not break the cold chain. === Cross-country same-day delivery === In October 2019, Roadie and Delta Cargo launched DASH Door-to-Door, a 24/7 door-to-door pick-up and delivery service. Roadie handles the first and last mile and Delta manages the line haul via passenger flights. The service launched originally from Atlanta to 55 cities and is an industry-first for a US commercial airline. === Promotion, awards and corporate citizenship === In September 2015, Roadie announced a partnership with Atlanta-based musician Ludacris, to promote the app. Following the devastation caused by flooding in Baton Rouge in 2016, Roadie offered free pickup and delivery for all deliveries traveling to and from the Baton Rouge area. In December 2020, Walmart named Roadie its top delivery partner for "Highest Driver Customer Satisfaction" and "Highest Net Promoter Score", after expanding into general merchandise deliveries as well as grocery that same year.