BB&T will spend up to $50 million to invest in or acquire emerging digital-technology companies, the banking company said Tuesday.
These moves will be aimed at lowering BB&T’s operating costs, improving its service to customers and giving it competitive advantages.
BB&T does not have a timetable for the investments and/or acquisitions, a spokesman said.
BB&T said it began to transform its digital business in 2015 by hiring a chief digital officer, W. Bennett Bradley.
Since then, BB&T has delivered new digital tools and platforms for retail and commercial clients, as well as improved security to protect client accounts and financial assets.
Based in Winston-Salem, North Carolina, BB&T came to Lancaster County by acquiring Lititz-based Susquehanna Bancshares in August 2015.