On the heels of Envestnet's multimillion-dollar acquisition of big data hub Yodlee, three banking giants are reportedly planning to jointly build a data management company.
A tie-up between J.P. Morgan Chase, Goldman Sachs and Morgan Stanley to launch SPReD, a business focused on data management, underscores again the value that banks and wealth management firms now perceive in analyzing and controlling real-time transactional data.
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