ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Technology

Keeping Pace with Change

November 1, 2015
Reading Time: 3 mins read

By John A. Ikard

This time three years ago—when I was first elected an ABA officer—Google Wallet was only a year old, Uber and Lyft were “just getting off the ground,” and Apple Pay was not even a rumor. 2012 was also the year that another famous disruptor, AirBnB, hit its stride and the average price of gas hit an all-time high 
of $3.60 a gallon.

Typically such “I remember when” recollections only make sense after a good chunk of time has passed. But with today’s rapid pace of change, a look back over the dramatic changes that have taken place in just the past three years yields plenty to talk about. It also drives home the point that the so called good old days and good old ways of doing things are “good and gone.”

That includes banking. Thanks to “disruptors,” increased competition and an unprecedented number of new regulations, our industry has faced monumental change in the past five years. You don’t survive what we have since the financial crisis and go back to the way things were before. Some changes are permanent.

In fact, I have no doubt that the way banks will make money in the future is different from the way we have made it in the past. This can be disconcerting—uncharted territory usually is. But in my time as an ABA officer, I have had the opportunity (for which I am extremely grateful) to meet hundreds of the men and women who lead our nation’s banks. And the vast majority of them are more than up for the challenge.

Yes, they have concerns about the trend line in bank regulation. And I agree that it is unsustainable. In fact, the volume and details of rules coming from Washington is redefining banking as much as technology and disruptors are. You may have heard me say before that I’ve lost more money with a stroke of the pen in Washington than I ever did with a business decision. But by and large the vast majority of bankers are committed to working through the challenges and finding a new path for their institutions. That’s leadership. Their attitude is one of “I’m going to go out there and compete and be successful.” I have found this optimism incredibly energizing and essential to our future success.

Strong leadership in banking or any industry today starts with an awareness that nobody is safe. Change can upend any of us if we aren’t always asking, “How do I stay relevant?” And answering that question requires us to always put our customers first. I know my kids—all in their 20s—have different expectations of a bank than I do. To them, good customer service is a mobile app that always works. I like the convenience of an app, too, but also want to make sure there’s a person I can talk to if something goes wrong. That’s where banks have a real advantage.

I started my year as chairman celebrating the ways America’s banks have innovated to serve customers better and remain relevant over the past two centuries. That’s not just in the past—such innovation and reinvention is still happening. You can find examples of it in the pages of the ABA Banking Journal—and any other publication that covers our dynamic industry.

Our goal as bankers should always be to stay relevant to our customers while staying true to who we really are. We don’t need to act like hipsters to attract millennials. We just need to deliver the goods they want and the way they went to get them. And yet we must do it in a way that preserves our most fundamental promise: that their money is safe with us.

So don’t let the headlines about “disruption” intimidate you. But do let them inspire you to keep developing new ways to serve the needs of your customers and communities. By keeping our industry’s pioneering spirit alive, you’ll keep banking’s future bright.

ADVERTISEMENT
Tags: ABA leadershipABA newsMillennialsMobile banking
ShareTweetPin

Related Posts

Senate Democrats seek proposals for regulatory changes following recent bank closures

Senate votes to advance stablecoin bill

Newsbytes
May 19, 2025

A bill to create a regulatory framework for payment stablecoins cleared a key procedural hurdle after several Democrats joined Republicans in voting to advance the legislation.

Banking sector, regulators announce joint effort to address AI risks

FS-ISAC releases annual report on financial sector cyber threats

Cybersecurity
May 19, 2025

The financial sector is scrambling to keep up with the heightened risks posed by cyber threats through increasing investment in fraud prevention and strengthening third-party risk management, according to a new report by FS-ISAC.

Bank marketers double down on AI

Bank marketers double down on AI

Retail and Marketing
May 19, 2025

Bank marketers will continue to test the AI waters and find efficiencies and scale.

Former NCUA chair named acting OCC head

Acting Comptroller Hood outlines OCC priorities

Newsbytes
May 13, 2025

In a recent speech, Acting Comptroller Rodney Hood outlined his top priorities for the OCC, including efforts to promote financial inclusion and expand the banks’ ability to provide cryptocurrency services.

White paper: Banks have clear legal authority to issue stablecoins

Stablecoin legislation hits roadblock in Senate

Newsbytes
May 8, 2025

A bill to create a regulatory framework for stablecoins stalled in the Senate after it failed to generate enough votes to advance. Afterward, Senate Republicans vowed to continue working to pass the legislation.

Fed, FDIC withdraw statements on managing risks for crypto

OCC clarifies bank authority to engage in crypto custody

Newsbytes
May 7, 2025

The OCC said banks are free to engage in cryptoasset custody and execution services as long as such activities are carried out in a safe, sound and legal manner.

NEWSBYTES

ABA urges House lawmakers to support several banking-related bills

May 20, 2025

First National Bank in South Dakota to buy Wyoming Bank & Trust

May 20, 2025

Senate votes to advance stablecoin bill

May 19, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.