Bank technology

Large incumbents can effectively pursue and cultivate disruptive innovation without buying a disruptor. Here's how.

The decision throws out the anti-money laundering charges against Michell Espinoza, who was arrested after agreeing to sell $30,000 to an undercover detective who declared he would use it in an illegal credit card scheme.

Problem technology credits drove down quarterly profits at Opus Bank in Irvine, Calif., which said it will pull back on tech lending even though that had become one of its most important niches.

Though several banks have begun automating financial advice for smaller investors, some are also providing more personalized services — such as counseling family members who have suddenly inherited a fortune.

Once skeptical of robo advisers, retail banks are starting to embrace them. Several big banks are getting into the business, mostly by forming partnerships with fintech companies. Smaller banks are expected to soon follow suit.

B of A says customers are becoming inundated with wallet options, so they are holding out on building their own.

Now is the time to correct the mistakes of interchange price controls that harm consumers and community financial institutions to the benefit of merchants.

Several core processing vendors with mobile-age platforms have sprung up in the past year. Making a lasting mark in a field dominated by entrenched vendors will take time.

Banks typically respond to pending regulations with a mixture of fear and dread, but new cybersecurity requirements being developed by the banking agencies may be met with relief.

Directors and senior executives have a duty to inculcate risk culture into banks so that everyone works as a team to contain cyber and other risks, including the human vulnerabilities within.