Innovation

Community banks with meager tech budgets need help identifying the right systems for institutions their size and finding good partners, says Sultan Meghji, who recently joined the Federal Deposit Insurance Corp. in this newly created role.

When life turns upside down, customers and employees need help with finding swift solutions to problems they may have never faced or even considered—and companies require innovation guided by more than a slide deck, says Western Union's Nicole Vogrin.

Todder Moning and Valerie Lancelle, who work in the bank’s innovation group, said they were especially impressed by demos of immersive technology, 5G and ambient computing.

Felix Todd, formerly of Regions Financial, says "the excitement is authentic" at the New York community development bank, which has a reputation for being both innovative and purpose-driven.

Nationwide lockdowns forced most firms to shift from offices to homes. One bank details its experience in moving to a remote-first work environment and how it managed the transition.

Jane Gladstone, new president of Promontory Interfinancial Network, says the recession will accelerate the shakeout among the nonbank disruptors and that small banks have an opportunity to forge new bonds with the survivors.

The so-called tech sprint involving 20 companies from across the country is intended to help improve the efficiency of banks' quarterly data submissions to the regulators.

Gavin Newsom's proposal to create a consumer watchdog modeled after the CFPB includes a provision that would make it easier for upstart financial firms to obtain industrial loan charters.

An outside paper identifies the statutes, regulations and other bureaucratic realities complicating the banking agencies’ efforts to oversee and benefit from rapidly changing technology.

Avid Modjtabai, who runs Wells Fargo's payments and technology innovation unit, is leaving the firm as new Chief Executive Officer Charlie Scharf continues to shake up top management.

FDIC Chairman Jelena McWilliams reaches out to tech pros to bring fresh ideas to the agency.

Jelena McWilliams told community bankers that policymakers should be a resource for banks trying to adopt new technology.

It is the bank’s second big gift to the nonprofit Financial Health Network in recent years, with this one earmarked for a financial solutions lab.

"You can get a lot done if you don't care who gets the credit," Stevens is fond of saying. Judging by the pace of innovation at the $169 billion-asset Fifth Third, that team-first message is clearly resonating.

The bank's innovation arm is developing a mobile-only account for gig-economy workers, and a real estate service to help companies analyze the long-term viability of properties.

The Madison, Wis.-based think tank will launch its Centers for Excellence starting next year.

Regulatory sandboxes can create a lot of opportunity for the winners but inadvertently put losers at a competitive disadvantage.

Regulatory sandboxes can create a lot of opportunity for the winners but inadvertently put losers at a competitive disadvantage.