AP NEWS

Seminar on taking tech global, New Bank of Utah foreign currency department, New 3D cutting tech at Joann fabric retailer

December 27, 2018

Taking Utah Tech to the World event set for Jan. 8

Business owners who are ready to go international, but not sure how to get started can participate in a seminar, “Taking Utah Tech to the World from 3-5 p.m. Jan. 8. The World Trade Center Utah, in partnership with Lucid, is holding the seminar to help tech companies learn more about taking Utah software and technology to the global marketplace.

The free event held at Lucid headquarters, 10355 S. Jordan Gateway #150, in South Jordan, will touch on topics such as: when to go international, and where to go. Business experts with international experience will also touch on other factors that led to their decisions to go global.

To register for the event, visit Eventbrite. Questions about the event can be directed to Hannah Lowry at WTC Utah at hlowry@wtcutah.com.

Bank establishes foreign currency exchange services

Douglas L. DeFries, president and CEO of Bank of Utah, announced that Bank of Utah has established a new foreign exchange department to better serve its customers. Doug Reichman has been appointed as vice president and manager of foreign exchange. The locally-owned and operated bank has also signed an exclusive referral agreement with TurnPoint Foreign Exchange.

“We have built strong online banking, commercial lending, cash management, corporate trust and wealth management services through the years,” said DeFries, in a press release. “Foreign exchange service is one more arrow in our quiver that will allow us to better help our customers.”

Establishing foreign currency exchange services has been a goal for the bank, according to Roger G. Shumway, Bank of Utah’s executive vice president and chief credit officer.

“We’re pleased that the right opportunity and the right caliber of people have come together at this time, so that the Bank may offer foreign exchange services to our customers locally and globally. Bank of Utah is the only bank with corporate foreign exchange services headquartered and managed in Utah,” he said in a press release.

Shumway, who will be overseeing the foreign exchange operations, explained that operating foreign exchange services locally gives Bank of Utah’s customers an opportunity to meet face-to-face, build a trusted relationship and talk about their foreign exchange needs with an expert in Utah.

Retailer Joann invests in 3D laser printer tech

Joann, a national craft and fabric specialty retailer with locations in Utah, announced it invested in Glowforge, a startup with 3D laser printer technology that creates intricate, precise custom cut projects at the push of a button. With its investment, Joann will be Glowforge’s brick-and-mortar national retail partner, and will roll out the technology to select stores in the coming months.

“We know our customers are looking for the best and latest creative technology, and we want to bring them the opportunity to try it first,” said Stephen Caution, VP of business development at Joann. “By investing in Glowforge and partnering to roll these amazing machines out to our stores, we’ll allow customers to test them out and create things they love. From custom acrylic floor lamps, to plywood drones, to leather shoulder bags, the possibilities with Glowforge are truly limitless.”

Glowforge machines will first start in Joann’s Boston concept store and then roll out to other locations across the 865-store chain in 2019.

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