蘑菇AV

Wells Fargo鈥檚 focus on transfers in its app redesign this year catapulted the bank up 10 spots into fifth place. Features used less often鈥攍ike wire transfers and using a QR code to send and receive money鈥攚ere less valuable to respondents. U.S. Bank narrowly beat Chase for first place. They each offered six features, but U.S.

I had an episode a while ago where I had some folks from Wells Fargo on the show, and they were talking about the benefit of Fin Techs working with big banks. And they said one of the benefits, of course, is that it provides a level of confidence for their investors. Like if a Wells Fargo says, "We're going to make an investment in this company," it speaks to what that company can provide.

JPMorgan鈥檚 estimated bill is $3 billion, Bank of America鈥檚 is $1.9 billion, Wells Fargo鈥檚 is $1.8 billion, and Citigroup鈥檚 is $1.5 billion.

Wells Fargo鈥檚 credit card point-of-sale (POS) volume grew 3% YoY, a dramatic contraction from the 33% growth it posted a year ago. Citi鈥檚 branded credit card volume grew 7% YoY, compared with 24% the same period a year ago. Behind the numbers: Inflation鈥檚 slow descent downward is still straining consumers鈥� budgets.

Many episodes ago we had some folks from Wells Fargo on who were talking about how they invest in fintechs. And I think that a model that's pretty interesting for a bank is to invest in the fintechs and get close to them and support them, and then you know what's going on.