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Booking Holdings Cuts Customer Service Costs 10% With Gen AI | PYMNTS.com

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Booking Holdings reported a 10% year-over-year decrease in customer service costs, even even as handling a 10% increase in bookings, Chief Financial Officer Ewout Steenbergen said Wednesday (Feb. 18).

Steenbergen attributed the efficiency gains to the implementation of generative artificial intelligence (gen AI) tools across the company’s platforms, which include Booking.com, Priceline, Agoda, Kayak, and OpenTable. “I believe a colleague CFO said during a call last quarter, I’ve forgotten who it was, ‘Gen AI is everywhere except for in the P&L [profit and loss statement],’” Steenbergen said during the company’s quarterly earnings call. “I’m very proud that we can point to a line item in the P&L where we actually do have meaningful results on the efficiency basis.”

The company has similarly observed positive early indicators from its initial deployment of “agentic AI,” a more advanced form of AI designed to act independently to assist customers, Steenbergen added. While the scale of these results remains modest, he described them as “promising.”

Specifically, Booking Holdings is seeing increased engagement from travelers, faster search speeds, improved booking conversion rates, lower cancellation rates, and higher customer satisfaction scores, according to Steenbergen. These metrics align with observations from late 2025, when the company first noted that gen AI tools were increasing conversions and reducing cancellations, according to a report from PYMNTS.

Booking Holdings began rolling out gen AI and agentic AI tools throughout 2025 and continues to expand their employ in 2026, CEO and President Glenn Fogel said during the call. Recent additions include tools designed to assist both customers, and partners. The 2025 rollout included natural language search capabilities, designed to help customers discover and plan trips, as well as smart filters and summaries to aid in informed booking decisions. AI agents were also introduced to provide faster and more effective customer support.

“Based on our learnings, in 2026 we will focus on further connecting these agentic capabilities to offer a more unified and personalized experience, deploying the technology in the places where it can have meaningful impact for customers and partners,” Fogel said.

Booking Holdings has proactively partnered with leading AI companies, including OpenAI, to prepare for potential shifts in customer demand driven by the increasing use of large language models (LLMs). The company’s collaboration with OpenAI made Booking one of the first travel platforms accessible through the ChatGPT platform, according to AltexSoft. Fogel stated that the firm is positioning itself to accommodate demand regardless of whether it originates from traditional search engines or horizontal LLMs.

Steenbergen, speaking at a financial conference in December 2025, argued that AI would strengthen online travel agencies (OTAs) rather than replace them, according to Skift. He emphasized AI’s potential to accelerate the shift from offline to online travel booking, expanding the total addressable market for OTAs.

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Technology

Steak ‘n Shake Sees Sales Boost with Bitcoin Payments & Worker Bonuses

by Sophie Lin - Technology Editor
written by Sophie Lin - Technology Editor

Steak ’n Shake is betting on bitcoin, and early results suggest the fast-food chain is seeing a significant return. The company reports a “dramatic” rise in same-store sales since implementing a strategy to accept bitcoin payments nine months ago, a move that has likewise allowed it to build a substantial bitcoin reserve for employee bonuses.

The burger chain’s embrace of cryptocurrency isn’t simply about accepting a novel form of payment; it’s a broader initiative to integrate digital assets into its operations. This includes adding $10 million worth of bitcoin to its corporate treasury and launching a bitcoin-themed burger, with a portion of proceeds donated to open-source bitcoin development. The move reflects a growing trend of businesses exploring the potential of cryptocurrency to attract customers and streamline financial processes.

According to a post on X (formerly Twitter) on Monday, February 17, 2026, Steak ’n Shake’s “burger-to-Bitcoin transformation” has demonstrably boosted sales. The company’s chief operating officer, Dan Edwards, has stated that the chain saves approximately 50% on processing fees when customers pay with crypto, according to CoinDesk. This reduction in fees contributes directly to the company’s bottom line and allows for initiatives like the employee bonus program funded by the Strategic Bitcoin Reserve.

The initial foray into bitcoin payments, which began in May 2025, reportedly led to a 10% increase in sales, CoinTelegraph reported. Since then, the company has continued to tie increased sales figures to its bitcoin adoption, with quarter-over-quarter growth outpacing major competitors like McDonald’s, Domino’s, and Taco Bell.

Building a Bitcoin Reserve

Central to Steak ’n Shake’s strategy is the Strategic Bitcoin Reserve. Every bitcoin payment received is deposited into this reserve, creating a “self-reinforcing” cycle where increased customer spending fuels the growth of the reserve, which in turn supports employee bonuses. As of January 2026, the reserve had grown to $15 million, CoinTelegraph reported, a significant increase from the initial $10 million investment earlier in the year.

In October 2025, Steak ’n Shake further solidified its commitment to the cryptocurrency community by introducing a bitcoin-themed burger. A portion of the proceeds from each “Bitcoin Meal” sold is donated to support open-source bitcoin development, demonstrating a broader commitment to the ecosystem beyond simply accepting payments.

The Broader Trend of Crypto Payments

Steak ’n Shake’s experience highlights a growing acceptance of cryptocurrency as a viable payment method for everyday purchases. As Decrypt noted, the range of goods and services purchasable with cryptocurrency has expanded significantly beyond its early days as a niche technology. Consumers can now use digital assets to book travel, purchase electronics, and even pay recurring bills.

Still, the most significant shift may not be consumers actively choosing to pay with crypto, but rather the emergence of stablecoin cards. These cards allow users to hold value outside of traditional banking systems while still enabling spending within the existing financial infrastructure. This has sparked a “three-sided race” between card networks like Visa and Mastercard, stablecoin issuers such as Circle and Paxos, and FinTech companies vying for control of the “monetary layer” beneath these payment systems.

Card companies are actively working to integrate stablecoins into their networks to avoid being disrupted, while stablecoin issuers aim to become the foundational layer for these transactions. FinTechs, exchanges, and wallets are competing for customer ownership and the ability to issue these programs.

What’s Next for Bitcoin and Fast Food?

Steak ’n Shake’s success with bitcoin payments could encourage other businesses to explore similar strategies. The company’s model demonstrates a potential pathway for integrating cryptocurrency into existing business operations, offering benefits such as reduced transaction fees and increased customer engagement. The continued growth of the Strategic Bitcoin Reserve and the expansion of bitcoin-related offerings will likely be key indicators of the long-term success of this initiative. It remains to be seen whether this trend will become widespread, but Steak ’n Shake’s experience provides a compelling case study for the potential of cryptocurrency in the fast-food industry and beyond.

What are your thoughts on Steak ‘n Shake’s Bitcoin strategy? Share your comments below and let us know!

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Economy

Alinea Invest Partners with Zerohash to Offer Integrated Crypto Trading in its Platform

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Alinea Invest Integrates Cryptocurrency Trading, Meeting Demand From Younger Investors

Table of Contents

New York, NY – February 12, 2026 – alinea Invest is now offering Cryptocurrency trading directly within its existing investment platform. The move, announced Today, is a direct response to growing demand from a generation of investors who prefer a unified approach to managing their portfolios, according to company officials.

The Rise of integrated Investing

The partnership with digital asset infrastructure provider Zerohash allows Alinea Invest users to buy and sell cryptocurrencies alongside conventional assets like stocks and Exchange Traded Funds (etfs). This integration eliminates the need for investors to juggle multiple platforms and apps, streamlining the investment process. According to a recent study by eMarketer,64% of Gen Z and Millennial investors express interest in using a single platform for all their investment needs.

Addressing Investor Preferences

“Younger investors want access to Cryptocurrency without unnecessary complexity,” said Anam Lakhani, Co-Founder and Co-CEO of Alinea Invest. “They don’t desire a seperate application or a entirely different user experience simply to invest in digital currencies. They want Cryptocurrency included seamlessly into the same place they manage their long-term investments, supported by clear guidance and solid context.” Initial user engagement figures suggest that the addition of Cryptocurrency trading is the platform’s most successful product launch in the past year.

Zerohash Provides Critical Infrastructure

Zerohash provides the regulated and institutional-grade infrastructure essential for enabling Cryptocurrency trading within the Alinea Invest platform. This allows the company to quickly introduce Cryptocurrency capabilities while maintaining regulatory compliance and avoiding the notable expense associated with building similar systems in-house. This approach underscores a larger trend: the convergence of traditional finance (TradFi) and the Cryptocurrency sector.

Industry Challenges and the Need for Investor Protection

while integrated Cryptocurrency access is expanding, concerns regarding investor safety remain paramount. A recent report by the federal Trade Commission shows that Cryptocurrency-related scams have resulted in over $2.6 billion in losses in 2023 alone. This has led to increased scrutiny and calls for stronger consumer protection measures. The industry faces the challenge of replicating the safeguards present in Traditional Finance,such as dispute resolution mechanisms and clear avenues for recourse.

feature Traditional Finance Cryptocurrency (Current State)
Regulatory Oversight Highly Regulated Varying Levels of Regulation
Dispute Resolution Established Mechanisms Limited or Non-Existent
Investor Protection Strong developing

The Future of Finance: Convergence and Accessibility

Edward Woodford, Founder and CEO of Zerohash, emphasized the accelerating convergence of Traditional Finance and cryptocurrency. “Crypto adoption is increasingly occurring through established financial brands, with platforms like Alinea catering to a new generation of investors by treating Crypto as a standard component of a diversified portfolio,” he stated. This indicates a broader shift towards acceptance and integration, rather than segmentation, of Cryptocurrency into the financial mainstream.

Are you considering adding Cryptocurrency to your investment portfolio? What steps would you take to ensure your investments are secure?

This is a developing story. Please check back for updates.

What are the key benefits for investors in the Alinea Invest and Zerohash partnership?

Alinea Invest Partners with Zerohash to Offer Integrated Crypto Trading in it’s Platform

Alinea Invest,a rapidly growing investment platform,has announced a strategic partnership with Zerohash,a leading provider of secure and scalable crypto trading infrastructure. This collaboration aims to seamlessly integrate cryptocurrency trading directly within the Alinea Invest platform, offering users a unified experience for managing both traditional and digital assets. The move signals a significant step towards bridging the gap between conventional finance and the burgeoning world of decentralized finance (DeFi).

What Does This Partnership Mean for Investors?

The integration promises a more streamlined investment process. Currently, investors often navigate multiple platforms – one for stocks, bonds, and mutual funds, and another for cryptocurrencies. This partnership eliminates that friction, allowing users to:

* Consolidate Portfolio Views: See your entire investment portfolio, including crypto holdings, in a single dashboard.

* Simplified Tax Reporting: A unified platform simplifies the often-complex process of tracking and reporting capital gains and losses across different asset classes.

* Diversification Opportunities: Easily diversify your investment portfolio with exposure to a wider range of assets, including Bitcoin, Ethereum, and other popular cryptocurrencies.

* Enhanced Security: leverage Zerohash’s robust security infrastructure to protect your digital assets.

Zerohash: The Technology powering the Integration

Zerohash specializes in providing institutional-grade crypto trading solutions. Their technology is built around several key principles:

* Non-Custodial Solutions: Zerohash prioritizes non-custodial solutions, meaning Alinea Invest users retain control of their private keys, minimizing counterparty risk.

* high-Frequency Trading Capabilities: The infrastructure supports high-frequency trading, ensuring efficient order execution even during periods of high market volatility.

* regulatory Compliance: Zerohash operates with a strong focus on regulatory compliance, adhering to evolving standards in the crypto space. This is crucial for attracting institutional investors and ensuring long-term sustainability.

* Scalability: The platform is designed to handle a large volume of transactions, accommodating the growing demand for crypto trading.

How the Integration Will Work: A Technical Overview

The integration will be phased, starting with support for major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Alinea invest will utilize Zerohash’s Request Programming Interfaces (APIs) to connect its platform to Zerohash’s trading engine.

Here’s a breakdown of the anticipated process:

  1. Account Linking: Users will link their existing crypto wallets (or create new ones) to their Alinea Invest accounts.
  2. Fund Transfer: Users will transfer funds from their bank accounts to Alinea Invest,which will then be used to purchase cryptocurrencies through Zerohash.
  3. Trading Interface: A dedicated crypto trading interface will be integrated into the Alinea Invest platform, allowing users to buy, sell, and manage their crypto holdings.
  4. Real-Time Data: Real-time market data from Zerohash will be displayed within the Alinea Invest platform, providing users with up-to-date information on price movements and trading volumes.

Benefits for Alinea Invest

This partnership isn’t just beneficial for investors; it also strengthens Alinea Invest’s position in the competitive investment landscape.

* Attracting a New demographic: Integrating crypto trading will attract a younger, tech-savvy demographic interested in digital assets.

* Increased Platform Engagement: Offering a wider range of investment options will encourage users to spend more time on the platform.

* Revenue Diversification: Alinea Invest can generate revenue through trading fees and other crypto-related services.

* Innovation leadership: The partnership positions Alinea Invest as an innovator in the investment industry, embracing emerging technologies and trends.

Security Considerations & Risk Management

Both Alinea Invest and Zerohash are emphasizing security as a top priority. Key security measures include:

* Multi-Factor Authentication (MFA): Mandatory MFA for all user accounts.

* Cold Storage: A significant portion of crypto assets will be stored in cold storage (offline) to protect against hacking attempts.

* Regular Security Audits: Autonomous security audits will be conducted regularly to identify and address potential vulnerabilities.

* Insurance Coverage: Exploring options for insurance coverage to protect against potential losses due to security breaches.

It’s significant to remember that cryptocurrency investments are inherently risky. Market volatility, regulatory uncertainty, and the potential for fraud are all factors that investors should consider. Alinea Invest will provide educational resources to help users understand these risks and make informed investment decisions.

The Future of Integrated Investment Platforms

The alinea Invest and Zerohash partnership is indicative of a broader trend towards integrated investment platforms.As the lines between traditional finance and DeFi continue to blur, we can expect to see more companies offering similar services. This evolution will likely lead to:

* Increased Adoption of Cryptocurrency: Making crypto trading more accessible will drive wider adoption of digital assets.

* Greater Financial Inclusion: Integrated platforms can provide access to investment opportunities for a broader range of individuals.

* More Elegant Investment Tools: We can expect to

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Economy

Personal Touch Meets Digital Innovation: Provident Bank’s Road to Outserving Big Banks

by Daniel Foster - Senior Editor, Economy
written by Daniel Foster - Senior Editor, Economy

Provident Bank Prioritizes Customer Trust and Digital Innovation in banking Transformation

Table of Contents

Jersey City-based Provident Bank is strategically blending personal connection with streamlined digital services, a move driven by the understanding that even digitally native consumers value trust and ease of use. This approach is central to the bank’s ongoing modernization efforts, as Senior Vice President of Digital Channels Scott Hurlbert highlighted from a recent personal experience with his daughterS interest in high-yield savings accounts.

The Evolution of Customer Expectations

Provident Bank,founded in 1839 and currently managing $24.83 billion in assets, operates over 140 branches across New Jersey, New York, and Pennsylvania, alongside robust mobile and online banking platforms. A key element of its transformation is a series of leadership appointments and promotions announced in December, aimed at bolstering both customer experience and technological innovation. The bank’s strategy centers on strengthening its data analytics capabilities and aligning technology with core business objectives.

Hurlbert emphasized the importance of creating a company culture that fosters genuine customer connections. He asserts that Provident Bank intends to exceed customer expectations through remarkable service, rather than attempting to compete solely on price with larger national institutions. The bank’s approach prioritizes accessibility and empowerment of its personnel to effectively resolve customer issues.

Navigating the Digital Landscape and Generational Shifts

Community banks are increasingly challenged to demonstrate the benefits of relationship-based banking through seamless digital experiences. Recent research indicates a growing volatility in customer loyalty, notably among younger demographics. According to a report, 36 percent of Generation Z consumers are open to switching financial institutions, compared to only 14 percent of all consumers.

This shift is also reflected in the increasing demand for interactive financial guidance, with 62 percent of Gen Z consumers expressing interest in utilizing Artificial Intelligence for “what-if” financial planning scenarios. However, a significant 48 percent still prefer in-person interactions when seeking advice. Furthermore, the rise of open banking practices is reshaping the competitive landscape and the accessibility of financial innovations.

Demographic Likelihood to Switch Institutions Interest in AI Financial Planning preference for In-Person Advice
Generation Z 36% 62% 48%
All Consumers 14% Not Specified Not Specified

FinTech Partnerships: A Strategic Advantage

Data from PYMNTS Intelligence shows a substantial increase in FinTech partnerships with credit unions, growing nearly 19 percent year-over-year, while partnerships with national banks declined by over 50 percent. This trend is demonstrating how smaller institutions are becoming key pathways for new technological tools. Hurlbert notes that the relative inexperience of younger demographics with banking fosters a need for trust and personalized guidance.

Provident Bank’s transformation isn’t simply about adopting new technologies for their own sake. It’s about building a cohesive and integrated system—a coordinated approach where data, digital platforms, and technology work together seamlessly.The emphasis is on creating a smooth and intuitive customer experience across all channels.

The Core Banking Conversion and Future Outlook

Provident Bank is currently undertaking a core banking conversion,anticipated to provide a robust foundation for future improvements. Additional initiatives include revamping the bill payment experience and developing a new mobile application, slated for release within the next 12 months. Hurlbert acknowledges the necessity of continuous adaptation in the rapidly evolving financial services industry.

The bank distinguishes itsef by prioritizing the delivery of consistent value over fleeting experiments, aiming to establish itself as a trusted advisor to its clients. This strategy is particularly crucial in serving business customers who require stability and reliability.

What role do you believe community banks will play in the future of financial innovation? How can banks effectively blend digital convenience with the human touch to foster lasting customer relationships?

How does Provident Bank integrate personalized service with digital innovation to outperform larger banks?

Personal Touch Meets Digital Innovation: Provident Bank’s Road to Outserving Big Banks

For decades, teh banking landscape was dominated by monolithic institutions. But a shift is underway. Regional banks, and notably those like Provident Bank, are demonstrating that a potent combination of personalized service and cutting-edge technology can not only compete with, but often outperform, their larger counterparts.This isn’t about simply offering online banking; it’s a fundamental reimagining of the customer relationship.

The Limitations of Big Bank Approaches

Large national banks often struggle with agility and genuine customer connection. Several factors contribute to this:

* Bureaucracy: Layers of management and complex processes slow down decision-making and hinder responsiveness to individual customer needs.

* Impersonal Service: Call centers, automated systems, and a focus on standardized products frequently enough leave customers feeling like just a number.

* One-Size-Fits-All Solutions: Large banks frequently lack the flexibility to tailor financial products and services to specific circumstances.

* Technological Debt: Legacy systems can be expensive and challenging to update, hindering the adoption of innovative technologies.

These limitations create opportunities for banks like Provident to differentiate themselves.

Provident Bank’s Strategy: A Dual Focus

Provident Bank’s success isn’t accidental. It’s built on a deliberate strategy that prioritizes both the human element and digital advancement.This manifests in several key areas:

1.Hyper-Local relationship Banking:

provident Bank emphasizes building strong relationships within the communities it serves. This means:

* Dedicated Relationship Managers: Customers have a single point of contact who understands their financial goals and provides personalized guidance.

* Community Involvement: Active participation in local events and initiatives fosters trust and demonstrates a commitment to the area.

* Localized Decision-Making: Branch managers have the authority to make decisions that benefit their customers, without needing to navigate layers of corporate approval.

2. Strategic Digital Investments:

Provident isn’t shying away from technology; it’s embracing it strategically.This isn’t about replacing personal interaction, but enhancing it.

* Mobile-First Banking: A user-amiable mobile app allows customers to manage their accounts, make payments, and access financial tools on the go.

* AI-Powered personalization: Artificial intelligence is used to analyze customer data and provide tailored recommendations for products and services. This includes proactive alerts about potential savings opportunities or fraud risks.

* Streamlined Online Loan Applications: The online loan submission process has been simplified and accelerated, making it easier for customers to access credit.

* Cybersecurity focus: Robust security measures protect customer data and ensure a safe online banking experience. This is paramount in building trust.

The Power of Data – Used Responsibly

Data analytics are central to Provident’s strategy, but with a crucial difference: it’s used to improve the customer experience, not exploit it.

* Predictive Analytics: Identifying customers who might benefit from specific financial products or services.

* Personalized Financial Advice: Offering tailored recommendations based on individual spending habits and financial goals.

* Fraud Detection: Using data to identify and prevent fraudulent activity, protecting customers from financial loss.

* customer Segmentation: Understanding different customer groups to deliver more relevant marketing messages and services.

Provident Bank emphasizes data privacy and transparency, ensuring customers understand how their facts is being used.

A Look Back: Provident’s Historical Roots & Adaptation

Interestingly, a search reveals mentions of “Provident life Association of London Limited” dating back to 1972. While a different entity, this highlights a long history of financial services and a potential legacy of trust. Modern Provident Bank has successfully transitioned from possibly more customary models to embrace the demands of a digitally-driven world, demonstrating adaptability – a key trait for long-term success. This historical context,while not directly related to the current banking operations,underscores a commitment to longevity and financial stability.

Benefits for Customers: Why Choose a personalized Approach?

The benefits of Provident Bank’s approach are tangible for customers:

* Faster,more Efficient Service: Localized decision-making and streamlined processes lead to quicker resolutions and approvals.

* Personalized Financial Guidance: Dedicated relationship managers provide tailored advice and support.

* Competitive Rates and Fees: Provident Bank is frequently enough able to offer competitive rates and fees due to its lower overhead costs.

* Stronger Community Connection: Customers feel supported by a bank that is invested in their local community.

* Enhanced Security: Robust security measures protect customer data and financial assets.

Practical Tips for Choosing a Bank

When selecting a bank, consider these factors:

  1. Relationship Banking: Does the bank prioritize building relationships with its customers?
  2. Digital Capabilities: Does the bank offer a user-friendly mobile app and online banking platform?
  3. fees and Rates: Compare fees and interest rates across different banks.
  4. Community Involvement: Is the bank actively involved in the local community?
  5. Customer Service: Read online reviews and talk to current customers to assess the quality of customer service.

Provident bank’s journey demonstrates that the future of banking isn’t about choosing between personal touch and digital innovation – it’s about seamlessly integrating the two. by prioritizing customer relationships and strategically investing in technology, Provident is proving that smaller banks can not only compete with, but often outserve, the industry giants.

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