BankThink

Banks need to innovate to compete with upstart fintechs, but fragmented and inflexible core systems are slowing digital transformation. Here’s how banks — with help from their regulators — can thrive amid the disruption.

High-tech videoconferencing is no replacement for high-touch in-person meetings. Yet some bank directors who are vaccinated remain hesitant to return to boardrooms.

Michael Moeser, senior analyst at PaymentsSource, talks to Atif Siddiqi, Founder and CEO of Branch, about the future of providing faster access to earned wages.

The top Republican on the Senate Banking Committee, Pat Toomey of Pennsylvania, says the Federal Reserve's heightened attention to racial and income inequality amounts to "political advocacy." But Al Piña, the CEO of the Florida Minority Community Reinvestment Coalition, argues that promoting equality is part of the Fed's mission.

The head of the six largest banks take flak from both Democrats and Republicans at Senate hearing; the rising price of digital assets is enabling them to poach senior mainstream executives.

It's in financial institutions' best interest to treat increasingly popular cryptocurrency assets the same as other financial assets held by their customers. And regulators must foster a safe environment for these assets by focusing on real risks like money laundering and terrorism finance.

The move follows the bank’s $911 million loss in the Archegos Capital fiasco; the bank will hold a 51% share in a wealth management joint venture with a Chinese bank.

Using social networks to make purchases and non-credit-card options like buy now, pay later are a permanent part of retail, Dan Brames of FIS writes.

Vanessa Colella taught earth science and biology to middle schoolers through Teach for America before becoming Citigroup's new chief innovation officer. Her experience in the classroom still sticks with her today.

John Adams, Executive Editor at PaymentsSource, talks to Debbie Gamble, chief officer of Innovation Labs and New Ventures at Interac, about Canada's growing digital needs.