Banks waking up to fintech threat throw billions into digital

FILE PHOTO: Santander bank office building is seen in Sao Paulo, Brazil January 9, 2019. REUTERS/Amanda Perobelli/File Photo

Scrappy online financial startups have spent the past few years building buzz, backing and the beginnings of a customer base. 

For a while, the world’s banking giants largely ignored them. Now they’re starting to feel the heat-and fighting back with the most formidable weapon in their arsenals: cash.