Cathy Bessant, the chief operations and technology officer at Bank of America, is No. 1 on American Banker's list of Most Powerful Women in Banking this year.

In accepting her award at the annual gala, she talked about the "nobility" of banking and how it helps change people's lives.

The event took place Thursday night at Cipriani Wall Street in New York City. Read more about it and see additional video clips here.