Apple is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter.
A potential wave of new banks could start after the successful merger between BB&T and SunTrust; regulatory acceptance and markets...
According to the WSJ, Goldman Sachs is considering a new trading operation dedicated to digital currencies; a spokeswoman for Goldman stated, “In response to client interest in digital currencies, we are exploring how best to serve them in this space.”; several banks have been exploring the use of blockchain technology; Jamie Dimon, chief executive of JP Morgan Chase recently spoke out against bitcoin calling it a fraud. Source
Empower Retirement has bought digital wealth management fintech Personal Capital for $825mn upon closing, with another $175mn in planned growth...
A November survey of restaurant owners by TD Bank found that 85 percent of respondents added delivery strategies which now...
Citigroup reported that the number of customers using its mobile app rose 25% to 10 million from the first quarter...
Budgeting tools from Fifth Third Bancorp, Radius Bank, Simple in partnership with BBVA USA and others are seeing a big...
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As more and more fintechs disrupt the traditional banking sector, Citi is looking to embrace the new technological advances to ensure they stay relevant; the bank formed a Citi fintech division in November 2015 and stocked it with former employees of Amazon and PayPal; Citi is looking to launch a new version of their mobile app that will include voice and facial recognition to eliminate password entry; Stephen Bird, Citigroup's CEO of global consumer banking, recently told Fortune magazine, "what happens in an extinction phase is that you either rapidly adapt and new means of competition are created, or you go extinct."; the bank is looking to continue making advancements to keep up with industry tech trends. Source
One of the common threads in the evolution of both Web2 and Web3 is they both spawned furious levels of innovation and competition.