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Why US Banks Are Trying to Turn Themselves Into Super Apps

BloombergMonday, July 14, 2025 at 8:00:19 AM
NeutralTechnologyFintech Innovation
Why US Banks Are Trying to Turn Themselves Into Super Apps
Big US banks are racing to transform their apps into all-in-one financial hubs—think Venmo meets Amazon meets your checking account. Rohit Chopra, ex-head of the Consumer Financial Protection Bureau, weighs in on how this tech-driven gold rush could reshape everything from how we pay friends to who controls our financial data.
Editor’s Note: Your banking app might soon do way more than just show your balance—it could become a one-stop shop for payments, shopping, and even budgeting tools. But with convenience comes questions: Will these "super apps" give banks too much power over our wallets? And what happens if they flub the tech? It’s a high-stakes game that could redefine everyday money habits.
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