During their latest earnings call Goldman Sachs revealed their digital bank Marcus brought in more than $35bn in deposits in...
There has been talk about one the big tech firms becoming a bank and potentially forever changing financial services; event without a banking license big tech firms are making noise in the finance market; Amazon and PayPal have been extending billions in loans and banks have started testing technologies like Alexa; the tech firms have also amassed a trove of data that could end up being as important as banking data; as banks become more digitized we will begin seeing a further mixing of interests to help offer the best experience as possible to the customer. Source.
USAA went live on Wednesday with a virtual assistant that works with Amazon's Alexa voice interaction device; Alexa will be able to answer commands from consumers who ask about accounts, balances, spending and transactions; USAA is now one of many financial institutions working with Alexa and as American Banker points out the USAA version is more flexible with voice commands than other institutions; when prompting Alexa they do not need to say the command a certain way, they can say the command as they wish; USAA is working with software company Clinc to customize their experience, as Jason Mars, Clinc's CEO, tells American Banker, "You've got this ability to speak to it in a messy, convoluted way, and the AI can understand everything, you feel like you're speaking to a human in the room." Source
Speaking in Davos at the World Economic Forum, the CEO of Ripple, Brad Garlinghouse, shared that an IPO would be...
When Libra was announced last year it was met with significant pushback, particularly in Europe; today, the European Union has...
The New York Times reports that 7 of Libra’s partners are quite wary of the new project; according to the...
The Bank of International Settlements released a new report on fintech, tokenized securities, central bank digital currencies, cross-border payments and...
According to Bloomberg, Google is working on its own blockchain technology in their cloud business; the distributed ledger would allow third parties to post and verify transactions and will also offer a white-label product for companies; Google has also been active in acquiring and investing in startups according to the source. Source
With a backlog in the US Senate Obama’s last FDIC Chair Martin Gruenberg is still in office 5 months after...
Wall Street research firm Alliance Bernstein estimates the Apple Card could bring in about $1bn in annual revenue; this would...