Rick T. Wilking/Getty Images This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Walmart's John Furner spoke about his company's fintech venture at a Bank of America conference. Furner said that acquiring customers is expensive for fintech startups. But Walmart plans to leverage its "millions of customers" for its mysterious new venture. John Furner, Walmart US' CEO, said that the retail giant plans to leverage its massive reach as part of its new, mysterious financial-technology venture. Speaking at Bank of America's 2021 Consumer & Retail Technology Conference, Furner addressed a question from Robby Ohmes, the managing director of Bank of America Securities, about Walmart's fintech future. Walmart has so far simply announced that it intends to launch a fintech venture with investment firm Ribbit. During an interview, Ohmes asked Furner if the retail industry could expect a "Bank of Walmart" in the near future.