Compliance systems

The private equity firm GTCR is interested in fintech companies looking to disrupt the status quo, so long as they have proved themselves and are paired with managers who have a long track record of success.

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.

As banks pull out of developing countries, we must seek a healthier balance between preventing money laundering and maintaining banking systems of entire regions.

Using methods akin to fighting external hacking can also address risks of employees committing legal or ethical lapses.

For the first time, the Fed this year is requiring banks subject to stress tests to show how they would cope with the possibility of rates dipping into negative territory. Analysts say they will be keeping close watch on custody banks, asset-sensitive regionals and banks with little overseas exposure.

Comments by JPMorgan Chase's Jamie Dimon have added fuel to the long-discussed idea of a national database that would make it easier for banks to vet customers for anti-money-laundering and other risks.

Hypur, a startup seeking to help banks serve businesses deemed high compliance risks (e.g. marijuana), has recruited a former Department of Justice lawyer to help build credibility. Its signature product: a payments platform to replace cash transactions.

Blockchain technology could power the digital identity of the future, with banks serving as designated authenticators on behalf of their customers.

Bankers are increasingly turning to their compliance teams to gain insights about customers for business purposes. Compliance officers, meanwhile, are turning to technology to fulfill their heightened roles.

Technology at many banks has been assembled haphazardly over years. That makes for complex systems with lots of connections. Those points are prime targets for cybercriminals to find a way in.