Thanks to big tech companies, the business world is moving to third-party platforms, or online marketplaces where sellers pull buyers' products off digital shelves. A growing number of financial institutions — including BBVA, Citi and community banks like Eastern — say they can't afford to sit out the trend.
The tech giants, along with Apple, PayPal and others, are calling on the Federal Reserve to build a backbone for real-time payments, rejecting large banks’ claims that the task is best left to the private sector.
Dozens of top U.S. business leaders including JPMorgan Chase's Jamie Dimon, Apple's Tim Cook and Pepsico's Indra Nooyi signed a letter expressing "serious concerns" about the Trump administration's immigration policy changes and their potential to undermine economic growth.
Shari Van Cleave, head of Wells Fargo Digital Labs, says the bank is experimenting with artificial intelligence and augmented reality to create new ways to present data to customers.
Goldman Sachs will issue Apple’s new co-brand credit card, according to a person familiar with the matter, as the investment bank deepens its push into consumer finance.
As the gig economy and prepaid cards draw more people into mainstream banking, the card providers are increasingly competing with one another instead of simply moving people away from cash.
