Despite the growth of digital advice, there's resistance to the business inside banks because of internal politics and a lack of data sharing, the company's CEO says.
A growing number of companies, led by Walmart, are offering payroll advance loans to their workers; Christian Sewing said he will invest 15% of his net earnings in the German bank’s struggling shares.
The idea of a common digital identity for consumers has become more compelling amid the digitalization of the world's economy. Many bank and credit union executives consider it a natural fit, one the industry should be prepared to lead on.
Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says.
House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency.
The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.
