A case study at the Harvard Business School was presented as part of the executive MBA program on the bank’s digital strategy; Goldman CFO Marty Chavez recently stated “Goldman is for risk what Google is for search”; the move to becoming a tech company is not easy as other areas of the bank do not see the same benefits; Goldman is clearly on the front edge of innovation in banking today. Source.
PayPal just launched what it calls a super app. It has a cash account with a 0.40% interest rate, direct deposit, money movement, bill pay, and remittance features. It also integrates shopping functionality with rewards and cash back. In this analysis, we compare this offering with Google Pay and Square Cash App, as well as trace the DNA of PayPal to understand whether such an offering will succeed where others failed.
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[Editor’s note: This is a guest post from Lisa Weinberger, Director of Digital Marketing at CircleBack Lending. CircleBack Lending is a Silver sponsor...
Federal banking regulators issued a cloud security reminder as most banks have shifted their employees to work from home mode;...
artificial intelligencebig techdigital transformationenterprise blockchainidentity and privacyIndiaregulation & compliancetelecom & infrastructure
·This week, we look at:
IBM spinning out its managed services division with $18 billion of revenue in order to focus on hybrid cloud and digital transformation
Reliance Jio, the Indian mobile telecom provider with 400 million users, contemplating financial services with backing from Google and Facebook
The role that technology infrastructure plays in the delivery of financial services
India was one of the fastest growing digital payments markets before the pandemic hit and now many of the companies...
One of the first posts I ever wrote on Lend Academy back in 2010 was about mulling the idea of...
The idea of Apple, Google, Amazon or Facebook getting into banking is not new. The possibility has been discussed for...
Writing in Forbes, Founder and CEO of the Financial Health Network, Jennifer Tescher discusses how stakeholder capitalism has helped to...
An article in Bank Innovation explores whether Google’s mobile expansion points to larger fintech ambitions for the company; their Indian mobile payments app called Tez showed growth in the quarter and many companies are moving to Google Cloud including PayPal; Google also opened a payment API in Brazil and is also focusing on partnerships with retailers and merchants. Source