The Troy, Mich., company is operating unfettered by regulatory orders for the first time in a decade, and its CEO says Flagstar now has the flexibility to pull the trigger faster on deals and accelerate its diversification beyond mortgages.
Community bankers take pride in their personal touch with customers, but they must extend it to mobile platforms. A good start is creating digital hubs that let customers view their full financial picture in one place, a chief technology officer says.
When Equifax disclosed its enormous data breach that exposed the personal information of some 143 million people, the reaction of many consumers and corporate executives was similar and familiar: our data is at risk at all times and the less access we give to others the better. But that's precisely the wrong lesson.
President and CEO
National Association of Federally-Insured Credit Unions
The banking industry has been raising alarms about the growth of a few credit unions, but the critiques ignore the vast size differences between the two sectors and the tremendous growth banks have seen since the crisis.
The president's suggestion that public companies report financial results twice a year instead of quarterly might win nods of approval from CEOs, but it’s unlikely to fly with investors. Still, there’s room for reforms to reporting practices, some backed by prominent bankers.
The widely held belief that application programming interfaces are the key to banking’s future rests on the many ways early adopters are experimenting with the technology. But security and privacy concerns are still leading many in the industry to hold back.