Morgan Stanley Builds Mortgage App To Try And Stay Relevant As Fintech Booms

It’s no secret that Wall Street lives in constant fear of Silicon Valley. Bank CEOs probably wake up in a cold sweat after imagining that their clients have handed their money to some new startup that’s found a way to disrupt a financial service like, say, wealth management.
To try and fend off the robo-advisers and other fintech companies trying to wrest every bit of market share away from the big banks, Morgan Stanley is launching its own suite of apps, meant to win over younger clients who prefer digital products. On Tuesday, the bank announced its latest offering: its very own digital mortgage application tool.
Here’s Reuters:
Morgan Stanley is developing a new digital mortgage application tool in a bid to get more of its existing clients to turn to it for home loans, its wealth management technology head said on Tuesday.

This post was published at Zero Hedge on Jun 15, 2017.

 

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