Disruptors

With millions of Alexa and Google Home devices now in use, first-mover banks are rapidly developing services to let customers control their finances using only their voice — even if there are still many kinks to work out.

Borrowing from the startup world and some popular TV shows, Citigroup is encouraging employees to pitch innovative ideas to a panel of senior execs who could give them the green light to start work.

The startup is betting that a venture offering safe storage of digital assets will entice billions from banks and other institutional investors.

Brian Behlendorf, leader of the Linux Foundation's effort to establish standards for blockchain, likens the invention of cryptocurrencies to the moon launch and says banks, open-source developers and others are working to make the underlying technology commercially viable.

Banks around the world have spent the past few years preparing for competition from small, nimble technology startups. It turns out the real threat may be Jeff Bezos, according to McKinsey & Co. In its annual banking report.