Bank technology

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While banks are trying to advance, regulators are lagging, with outdated rules failing to address today's technological and digital asset realities.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.