BNY Mellon's tech spending will accelerate in 2020, interim CEO says
BNY Mellon
Todd Gibbons, who succeeded Charlie Scharf in September, said tech investments give the custody bank a competitive edge and make it more efficient.

(Full story here.)
To ignore Gen Z is ‘to flirt with irrelevance’: Wells Fargo exec
Julia Carreon, Managing Director of Digital & Fiduciary Operations, Wells Fargo
Businesses need to shift focus away from millennials and toward the next age group, which is expected to be so demanding that business processes will have to be overhauled, says Julia Carreon, the bank's managing director of digital and fiduciary operations.

(Full story here.)
Truist rising: With megamerger done, pressure on to deliver
Bill Rogers, left, and Kelly King
Cost cutting and systems integrations are short-term priorities, but over time CEO Kelly King and his heir apparent, Bill Rogers, will have to exploit the combined BB&T-SunTrust's revenue potential and prove the biggest post-crisis merger was a good idea.

(Full story here.)
Texas Capital, Independent Bank to combine in $3 billion merger
Keith Cargill, CEO of Texas Capital Bancshares.
The deal will create a bank with nearly $50 billion in assets.

(Full story here.)
Citizens names consumer banking, customer experience chiefs
Signage is displayed outside a Citizens Financial bank branch in downtown Boston.
Brendan Coughlin will succeed Brad Conner as head of consumer banking, and Beth Johnson will be the bank's first chief experience officer.

(Full story here.)
CRA cheat sheet: New regime would look very different
Comptroller of the Currency Joseph Otting
The long-awaited proposal by the OCC and FDIC to modernize the Community Reinvestment Act would seek to make grading simpler and more transparent while allowing banks to spread loans and investments across a broader geographic area.

(Full story here.)
A new path for banks in digital marketing
Chris Tremont, executive vice president, Radius Bank
Radius Bank is letting consumers open accounts through NerdWallet as part of its banking-as-a-service offerings to reach customers through third parties.

(Full story here.)
Why most banks are holding on to their holding companies
AB-121019-BHC.jpeg
Several banks abandoned their BHCs two years ago to cut costs and reduce regulatory burden. But the strategy never really took hold as most bankers determined there were more benefits to having holding companies than eliminating them.

(Full story here.)
OCC flags risks from banks' tech overhaul, Libor transition
OCC building
The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

(Full story here.)
Upstart to help banks pay off customers' credit card bills
Dave Girouard, the chief executive of Upstart Network
It sounds like something that should be simple — letting a customer pay off their credit cards with a new personal loan — but it's not, according to Dave Girouard, Upstart's CEO.

(Full story here.)

Tags