When Equifax disclosed its enormous data breach that exposed the personal information of some 143 million people, the reaction of many consumers and corporate executives was similar and familiar: our data is at risk at all times and the less access we give to others the better. But that's precisely the wrong lesson.
Revenue growth in its merchant payments business is expected to be tepid in the foreseeable future. The Minneapolis company says it is looking to ramp up innovation to stay competitive in a business that has been upended by fintech firms and online shopping.
The OCC says banks face growing “strategic risks” from trying to compete and team up with fintech startups; U.K. investor group wants banks to provide more nonfinancial information about their conduct and culture.