How Mobile, AI, and Omnichannel Tech Will Revolutionize the Future of Banking - PaymentsJournal

As many who follow the financial services industry will recall, during and after the financial crisis of 2008-2009, a number of events and structural changes occurred. One of those changes involved former investment banks being either acquired (i.e.; Merrill Lynch, Bear Stearns) or converting to a financial holding companies (FHC), which allowed for easier capital access but also subjected them to closer regulatory scrutiny. One of the FHC conversions (through the Gramm-Leach-Bliley Act of 1999, essentially the reversal of 1933 Glass-Steagall Act) was Goldman Sachs. This piece, appearing in Tech Republic, uses the Goldman Sachs digital banking platform Marcus as a proxy to make a point about the changing consumer banking landscape.