The online giant has succeeded in disrupting every area of retail, but in banking it faces a high barrier to entry and fierce determination from banks like Citizens Financial and Bank of the West to keep upping their games.
Coinbase Inc., one of the largest cryptocurrency exchanges, said it obtained an e-money license in the U.K. as it expands services in Europe. A local subsidiary also opened an account at Barclays Plc, easing deposits and withdrawal for clients.
While optimistic about the economy, bankers at this year's ICBA convention are still concerned about credit unions and other nonbanks, the role of technology, weakness in the agricultural sector and succession planning.
Eno is into reality TV, says Capital One's head of artificial intelligence. Who's afraid of big, bad Amazon? Not Nandita Bakhshi. Goldman Sachs won’t be breaking any glass ceilings. Plus, a study on sexual harassment in banking.
With substantial regulatory relief within reach, community bankers should use their clout to shape cybersecurity policy and ensure a level playing field for banks and nonbanks, retiring ICBA chief Cam Fine says.