Investment

The policies most community banks rely on for cyber liability, fidelity bonds and directors and officers insurance are full of overlapping exclusions, restrictive coverage sublimits and vague specifications. That can become an expensive problem.

The founder and CEO of Custodia Bank believes most demand deposits in the U.S. will be tokenized.

BNY's Robin Vince and Nubank's David Velez have joined the boards of the OpenAI Foundation and OpenAI Group Public Benefit Corporation; Old National Bancorp has revamped its top leadership teams; City National Bank appointed Lindsay Dunn executive vice president and head of personal and business banking; and more in this week's banking news roundup.

The global co-head of J.P. Morgan's blockchain business unit says the financial services industry will be "replatformed."

The head of global operations at Anchorage Digital said she's encountered a lot of skepticism about the need for digital asset infrastructure.

The chairman and CEO of Vast Holdings, parent of Vast Bank, believes banks that don't embrace innovation will be at risk.

The chief operating officer of Bitgo says banks will need flatter organizations when they participate in on-chain finance.

CEO Steve Squeri said the company is adding fewer customer service representatives and is cutting down on a backlog of technology projects.

The Hugging Face breach gives bank executives reason to rethink some of their technology choices.

The company, which has conditional approval for a bank charter, hit a $1 billion valuation with fintech exec backing from firms such as Nubank and Revolut.