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July 16, 2019
On the web
IMF Warns Banks to Evolve or Be ‘Left Behind’ Amid Competition From Big Tech Firms
CNBC
“In a paper published Monday titled “The Rise of Digital Money,” IMF authors Tobias Adrian and Tommaso Mancini-Griffoli said the two most common forms of money today, cash and bank deposits, will “face tough competition and could even be surpassed.” But banks are “unlikely to disappear” as they face growing threats from big tech companies and fintech start-ups, the paper said.”
January 3, 2019
On the web
Bank Accounts Designed for Low-Income Customers Find Broader Audience
Wall Street Journal (paywall)
“The accounts, known as checkless bank accounts or safe-transaction accounts, include ATM access, debit cards and mobile banking for small fees and minimum deposit requirements. They don’t include paper checks or overdraft protection, two features that aren’t as popular amid a customer shift to digital banking.”