- “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.”
