Dozens of companies, including Google and PayPal, met with OCC officials last year in part to discuss obtaining a new fintech charter, but many ultimately decided not to pursue it, according to sources. Here's why.
Royal Bank of Canada's Dave McKay told investors on Tuesday that he's increasingly worried about the so-called FANG companies — Facebook, Amazon.com, Netflix and Google parent Alphabet — getting into banking.
Criminals are inventing new ways to hide dirty money amid transactions for digital goods bought and sold on everything from Amazon to game-app sites. Banks need to wake up to the threat, says Ben Duranske, Facebook Payments' former compliance chief.
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.
Serverless computing has its proponents — Capital One and BBVA among them — but the service hasn’t yet proven it can fulfill general systems needs in banking.
The tech giants might be moving into small-business lending, but they’re more likely to take business away from large commercial lenders, not community institutions.
Know how many different ways customers can ask a virtual assistant to move money between accounts? The answer is one of Bank of America’s takeaways from a lot of trial and error this year in launching voice-activated services.
