Banks Find Tech Firms Have Big Risks Too

The flavor of the week among investment banks is not to be a bank, but a tech company. While the numbers are starting to back that claim up, so are the risks involved, writes James Rundle.

Jim Rundle

Your bank probably doesn’t want to be called a bank. It doesn’t want to be called a trading firm, an asset manager or a wealth adviser, either. What banks want, in 2019, is to be called technology companies. 

When Goldman Sachs famously announced this a few years back, it was—rightly so—regarded as a bit of a marketing ploy. Yes, the bank, and others like it who have since claimed the moniker, employ a vast amount of people in technology and related functions. But the core business of a bank

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