Wells Fargo

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Wells Fargo

Crypto decentralized finance Investing roboadvisor

·May. 11, 2020

$700B Franklin Templeton buys wealth tech AdvisorEngine, while digital investing DeFi revolution only starting

This week, I pause to reflect on the sales of (1) AdvisorEngine to Franklin Templeton and (2) the technology of Motif Investing to Schwab. Is all enterprise wealth tech destined to be acquired by financial incumbents? Has the roboadvisor innovation vector run dry? Not at all, I think. If anything, we are just getting started. Decentralized finance innovators like Zapper, Balancer, TokenSets, and PieDAO are re-imagining what wealth management looks like on Ethereum infrastructure. Their speed of iteration and deployment is both faster and cheaper, and I am more excited for the future of digital investing than ever before.

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Fintech News Roundup USA

·Feb. 12, 2020

APIs Become Core to Wells Fargo Strategy

Wells Fargo said their APIs were called more than 1.5 billion times last year as the bank looks to increase...

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Fintech News Roundup USA

·Mar. 28, 2019

Bank of America and Wells Fargo Less Thrilled about Potential of Blockchain in Financial Services

Speaking at a conference on Wednesday, Wells Fargo CEO Tim Sloan stated, “Personally I think blockchain has been way oversold…By...

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Fintech News Roundup USA

·May. 21, 2018

Banks Begin Using Military Style Tactics for Cybersecurity

More than $445bn was lost to cyber crime last year, a 30 percent increase from three years earlier; banks have...

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Fintech News Roundup USA

·Apr. 29, 2019

Banks Use Fintech Partnerships to Make Home Loans More Efficient and Profitable

JPMorgan Chase, Wells Fargo and now Ally Bank have all outsourced a part of their home lending process to fintech...

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Fintech News Roundup USA

·May. 28, 2019

APIs Become Core Technology to Big Banks

American Banker takes a close look at how APIs are being used at some of the world’s leading banks and...

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Fintech News Roundup USA

·Apr. 5, 2018

Bank Investment in Fintech Companies Slows

According to a new report by CB Insights the most recent 5 quarters show that big investments in fintech companies from banks has slowed down; banks are instead beginning to develop and update core technology in house; Wells Fargo, Morgan Stanley, JPMorgan Chase and others have all developed and released their own digital investing and advising services; service provides like Diebold are offering the banks a chance to move all infrastructure online so they can focus on customer facing tools; banks are still working through transformation as almost all have now realized if they do not upgrade legacy tech they will be left behind. Source.

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Fintech News Roundup USA

·Jan. 29, 2019

Banks and Fintechs Argue Over Payments Systems

Banks and fintech firms are in competition over payments systems and each thinks real-time payments should be run differently; Bank...

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Fintech News Roundup USA

·Jan. 17, 2020

Banks Grow Their Loan Books With Mostly Prime Borrowers

With most of the large banks reporting earnings this week one trend has become clear; as the loan books have...

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Fintech News Roundup USA

·Nov. 8, 2017

Big Banks Developing Mobile Apps to Attract Millennials

Big banks like J.P. Morgan Chase and Wells Fargo have developed new mobile only banking apps in an effort to attract younger customers; “It’s about helping people start in banking and doing it in the way that fits their lifestyle,” said Steve Ellis, executive vice president and head of the Wells Fargo Innovation Group, to Business Insider; the banks are looking to get users at a younger age then keep them over the lifetime with additional product offerings; focusing on the consumer experience and new technology will help the banks to claw back some of the market that fintech companies have taken. Source.

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