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In late 2016, many financial services companies were crawling reluctantly into the digital future, realizing they had little choice if they were to earn the business of tech-savvy, yet fickle, millennials. L2’s latest study, published in July, found that features such as chat bots, mobile-only applications, social media outreach, and TouchID are what millennials have come to expect from all brands, and are now becoming cornerstones of financial services companies’ digital offerings. Regardless of a basic leveling of the playing field, however, future digital success is moving further and further into the land of innovation.
U.S. political worries also pressuring European stocksAFP/Policemen check a car involved in a terrorist attack in Cambrils on Thursday. Spanish stocks slumped Friday, as part of a wider selloff across European markets a day after terrorists killed at least 13 people in the heart of Barcelona. Hours later, police killed five alleged terrorists as they responded to a separate attack that hurt seven people in Cambrils, a town southwest of Barcelona, the Catalan government said.
Wells Fargo's longtime auditor, KPMG, is facing renewed scrutiny as the bank continues to struggle with new scandals and lawsuits that forced it to reshuffle its board and face frustrated investors. A new report from MarketWatch takes a close look at how much KPMG LLP, Wells Fargo's (NYSE: WFC) auditor for 85 years, knew about the banking practices that lead to the lawsuits that have kept the bank in turmoil for almost a year. The report says KPMG played a unique role, because "external auditors should serve as another line of defense" for investors by annually certifying that their financial statements are truthful — but did not inform shareholders that it knew about some of the consumer banking