Opinions

The siren song of greater regulatory uniformity will lead the industry to disaster, as the kind of innovation that benefits consumers is stifled.

Financial services supervisors should revisit the concept of regulatory sandboxes. Doing so would allow fintechs to gain needed experience in the world of banking, while fostering innovation.

Bankers and financial services professionals should be monitoring the rollout of the EU Digital Identity Wallet initiative, as it signals changes likely to arrive in the U.S.

The basics of good banking — a strong balance sheet, customer service and solid risk analysis — will always be important. But in the future, technological competence will be the difference between the sector's winners and losers.

Washington policymakers are not adopting policies necessary to keep the U.S. on the cutting edge in payments. Fortunately, the dual banking system offers an alternative path forward.

The real test of the value of investments in artificial intelligence and other tech upgrades is the generation of measurable value across a bank's lines of business.

All cultures have explicit and implicit biases. Preventing discrimination when large language models are involved starts with using high-quality human-curated data and text.

AI tools, such as large language models, offer the promise of increased efficiency; but they also carry with them potential legal and regulatory risks. Financial service providers will need to find a way to strike the right balance as technological advancements continue to emerge.

Integrating artificial intelligence into banking operations needs to be done with a clear business purpose in mind, and the articulation of that purpose needs to come straight from the top of the organization.

Traditional financial institutions have much to gain from collaboration with digital asset natives — and vice versa. It's time to realize that potential.