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The digital-only offshoot of Customers Bank combines edgier technology like letting consumers snap photos of their driver's license to open accounts with a new business model that counts on interchange revenue rather than fees.
January 20 -
Citigroup and other banks are increasingly looking to startups to help them compete in a world in which Google, Apple and other tech firms are rapidly becoming potential threats.
April 30 -
Banking has less in common with industries like music and entertainment than it does with long-entrenched pharmaceutical, grocery store and airline businesses all of which can absorb the threat of new entrants by adapting to them.
April 10
JPMorgan Chase has announced it will begin allowing employees to expense rides from the mobile-app powered black car service Uber.
The too-big-to-fail bank's new openness to Uber is a boon for the transportation startup, which has been followed by controversy in recent months. New Delhi, India, banned the service following an
JPM will reimburse its over 100,000 employees for Uber usage in business travel or going home late from the office, the company said in its release. It will cover Uber's so-called "surge" pricing, a spokesperson said.
"Allowing our employees to use Uber for business travel just makes sense," said Chase chief communications officer Trish Wexler in a release. "It's cost efficient for the company, and convenient for our employees." The company did not share its reason for issuing a press release about the move.
