Economic Slowdown and Banks Reevaluate Technology Moves

In this week’s PeerIQ Industry Update they cover the continued slowing of the U.S. economy with payrolls and average hourly earnings both coming in below expectations; there is now signs that the Fed could cut rates 1 or 2 times in 2019; JPMorgan Chase ended their digital only bank Finn, the bank struggled to gain traction and all Finn accounts will be rolled into JPM; Citigroup pulled out of a potential deal with Apple for the launch of the Apple Card and Goldman Sachs CEO David Solomon says the bank doesn’t get credit for Marcus progress. Source.