Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Banks are continuing to spend money on branches, but they are dramatically changing their role to become centres for sale-oriented advice rather than service-oriented transactions, driven by the rapid growth of digital banking.
IT spending in financial markets is on the rise and is set to reach $100 billion in capital markets, corporate banking and asset management by 2018, according to new research by analyst firm Ovum.
