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Amazon and Walmart can both benefit from the powerful synergies from their retail operations if they decide to become banks, don’t see how traditional banks can
by xwdv 5y ago
Amazon and Walmart can both benefit from the powerful synergies from their retail operations if they decide to become banks, don’t see how traditional banks can easily compete. Square too is heading down this path, arguably even faster.
- deshpand 5y agoBanks also have a huge cost of supporting legacy systems in Cobol, SAS.. even some 'modern' systems in Java/Python are a huge mess. https://www.efinancialcareers.com/news/2021/02/jpmorgan-still-has-its-python-2-issue https://www.efinancialcareers.com/news/2021/02/jpmorgan-stil... They mostly talk about being tech companies but don't take the time to put in the required investments.