Mobile banking

To get more Americans into the financial system, the industry must find ways to help more people get access to the Internet.

Banks are starting to use Facebook Messenger as a way to connect with customers. For now, such interactions will be limited and largely based on artificial intelligence. Down the road, the move could place Facebook deeper into the lives of its customers and could give it an entrée into financial services.

Retail banks must reinvent the way they charge consumers for their services at a time when institutions are struggling for profitability.

Bank of America customers could soon interact with the bank via Facebook's Messenger app, the banking company said Tuesday.

Before banks are truly integrated into the digital landscape, they must break down data silos and implement steps to make data more accurate and actionable.

Banks are slowly warming up to the idea of open APIs, essentially tools that allow banks to easily connect with others, but BBVA's Shamir Karkal says that they will likely also push banks to modernize their core systems.

It's easy to get lost in the technological complexity of "application programming interfaces," but banks need to stay focused on improving business and customer outcomes, which is the ultimate goal.

Federal rules for technology-based firms providing the fast-moving sector certainty and consistency would be a benefit, even if rules are suboptimal.

Even as JPMorgan Chase tries to beat fintech firms at their own game it's still looking to these upstarts for inspiration, its CEO says.

As the pressure builds for mortgage lenders to offer digital — specifically mobile — tools, innovators in the space are encouraging the industry to keep the customer as the focus in designing new offerings.