Though a 33% decline in net income was attributable to large one-time gains that the credit card issuer recorded in the second quarter of 2016, Amex faces major challenges in the pursuit of growth opportunities.
Apple's plans to display a bright blue bar on iPhone screens when an application is monitoring the user's location may feel like a threat to location-based marketing. More likely, it is an overdue wake-up call for banks to improve their communication about the benefits of location data.
The $13.7 billion acquisition could have significant implications for swipe-fee revenue and other grocers' in-store branches. It also raises the question of whether the Seattle e-commerce goliath will soon set its sights on the financial services industry.
Regulatory restrictions on market entry can shield banks for only so long from problems like those faced by traditional retailers. But financial institutions can take these steps to stay competitive in the ever-digital world.
The Bokis wallet's new app is scheduled for broad release this summer. It's a rare success for collaborative wallets, as others have failed, such as the U.S.'s Softcard and CurrentC, the U.K.’s Weve, Canada’s suretap and Singapore’s SmartWallet.