Bank technology

Openbank, which has operated in parts of Europe for years, should help the Spanish bank to fund its U.S. auto lending business, executives said.

American Banker's annual recognition of the most powerful women in banking includes two CIOs and the newly created position of chief data and analytics officer at a megabank.

The Consumer Financial Protection Bureau's open banking rule is supposed to put small banks on a more even footing with their larger rivals. But PNC CEO Bill Demchak says larger banks' advantages in tech and economies of scale will win the day.

The company, which counts JPMorgan Chase and TD Bank Group among its customers, has also appointed a new executive chairman.

At a New York event, industry practitioners shared how they are addressing cultural, compliance and logistical objections to making loans based on bank account data.

Banks are finding that they rarely save money off the top when they migrate applications to the cloud. The more substantial benefits are about productivity and speedier development.

Some of the challenges Bank of Guam faces are unique. But its search for vendors and local talent will feel familiar to community banks across the U.S.

While banks are trying to advance, regulators are lagging, with outdated rules failing to address today's technological and digital asset realities. It's time for a new paradigm in banking regulation.

Financial institutions have trouble pinning down a common definition of AI and figuring out which of their processes incorporate the technology. That can lead to trouble with regulators.

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

In this edition of American Banker's news quiz, test yourself on the latest items covering FedNow's progress since launch, the merger between Capital One Financial and Discover Financial Services and more.

Deanne Zettler is taking on a newly created role at PCI SSC; Wisconsin's Landmark Credit Union is opening a new, tech-forward branch; Mo Assomull is named co-head of investment banking at Morgan Stanley; and more in this week's banking news roundup.

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.