Some banks are looking at how to translate the complicated and document-heavy mortgage lending process into the digital world of voice interactive personal assistants.
Industry observers are skeptical of acting Comptroller Keith Noreika's claims that his agency could grant a fintech charter to a commercial firm like Amazon or Google, arguing that such a move could become "Walmart 2.0."
Meetings between bank regulators and technology giants like Amazon and PayPal underscore Silicon Valley's growing involvement in the financial services arena, and may presage pursuit of a bank charter.
Can the internet giants peek at bank data, or eavesdrop on conversations with customers, sent over their gadgets? Here are the facts and the fuzzy areas.
Critics of the industrial bank charter, as well as those who support more mixing of banking and commerce, describe the intent of industrial banks inaccurately.
Customers can ask Amazon’s virtual assistant about account balances, spending habits and financial questions that they may be too embarrassed to ask a human.
