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The new year will bring an end to big regulatory settlements with banks, a sharp drop-off in the number of branches across the industry, increased use of biometric technology and a breakthrough in banks' use of big data. American Banker editors discuss these and other predictions for the year ahead in banking.
January 8
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Bankers are spending so much time complying with new regulations that they're in danger of giving short shrift to actual risk management, says Ingmar Bromstrup, a Principal at The Boston Consulting Group.
January 8
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The finalization of the Volcker Rule signals that banks have reached "the height of the regulatory burden that has been placed on banks" since 2008, according to ConnectOne CEO Frank Sorrentino III. Now bankers just need to figure out how to fully comply with these new rules. Sorrentino, also a board member of the American Bankers Association, discusses his outlook for industry regulation in 2014.
January 7
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Whatever one thinks of it as a currency, the Bitcoin payment network sets a noble example for its transparency, says Dave Birch of Consult Hyperion. Yes, transparency. While users may transact anonymously or pseudonymously, Bitcoin boasts a public, real-time, detailed ledger of all transfers between account numbers - a stark contrast to the opaque legacy payments system.
January 6
