• “Bank of America Corp. and International Business Machines Corp. have teamed up to develop a public-cloud computing service for banks, which have been reluctant to store customers’ financial data outside their in-house systems.
  • Venmo, a digital money-transfer service operated by PayPal Holdings Inc., reported more than 40 million active users for the first three months of 2019.
  • Over the same period, Bank of America reported 37 million active digital users, while
  • Wells Fargo & Co. counted 29.8 million.
  • Among large U.S. banks, only JPMorgan Chase & Co. surpassed Venmo, reporting 51 million digital users for the first quarter.”

https://www.google.com/amp/s/www.wsj.com/amp/articles/ibm-bank-of-america-team-up-on-public-cloud-aimed-at-banks-11573016461

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