Payments News

Tech

How Walgreens and Walmart’s New Banking Ventures Will Shake up Finance

“Retail banking has changed dramatically over the past several years, with the rise of digital banking and tech-forward neobanks like Dave and Chime, which pushed incumbent financial institutions to develop their own mobile-first offerings. Now this competitive market is being disrupted again by two of the country’s biggest retailers, Walmart and Walgreens. Both companies recently announced new banking initiatives designed to capture the mid-market consumer and monetize their most valuable asset: the loyal relationships they have with customers.”