Executives at the embattled bank made clear Thursday that they are not discarding its long-standing strategy of selling additional products to existing customers.
James Herbert, 72, has once again postponed retirement. The longtime CEO was scheduled to step down at yearend, but the company says he will remain at the helm through 2020.
The funding comes as the financial services industry continues to search for safer ways for customers to share their account data with third-party apps.
Banks have long believed that the key to sparking mobile payments is better incentives, but U.S. Bank is taking that to the extreme with a new product that pays triple points for such purchases.
Wealthfront is the first of the tech-powered financial advisers to offer securities-based lending. It will compete with the likes of Wells Fargo and Morgan Stanley.
