4 ms·

They're competitors.

• maxerickson 7y ago
  Without thinking too hard about it, it sure seems like sharing the information would be mutually beneficial, so I'm not sure why that would matter. (it wouldn't be an antitrust problem, the communication would also benefit their customers)
• sbarre 7y ago
  You'd be surprised how often that is not true for secondary and support services. In Canada we have many service providers (Interac and Symcor being two big examples)that are joint ventures between all the banks they service. So things like (historically) bill printing and mailing and more currently fraud detection and various digital transformation initiatives are being done by these service providers, so that the banks don't all have to spend money on the same stuff separately (and can interoperate more easily). As a bonus, they can also offer those services to other parties and increase profit for the bank owners.
  • toomuchtodo 7y ago
    In the US, it's FiServ and Early Warning Systems ("Zelle").