As banking becomes ever more technology-driven, many banks are shifting from a mindset that puts big tech projects off to one side to one that embraces ongoing innovation, development and deployment. Regions Bank exemplifies the latter mindset.
Shifting bank technology functions to the cloud has many benefits for banks—but managing the risks requires a different framework.
Whether it’s buying a mortgage division in 2009 or building a diversified product set in an age of nichification, community bank CEO Luanne Cundiff zigs when pundits say to zag.
The way nonbank online lenders advertise or disclose up-front loan terms and costs for small businesses varies greatly, producing confusion for small business borrowers as online lending gains market share, according to research published Thursday by the Federal Reserve Board and the Federal Reserve Bank of Cleveland.
You spend a third of your life at work, says Jeremy Callais. “You can teach someone how to do banking. We hire people who we want to spend a third of our lives with. We tend to think that the customers like to bank with those people too.”
Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.
In this bonus episode of the ABA Banking Journal Podcast, senior OCC policy official Grovetta Gardineer digs into the details of the OCC and FDIC’s notice of proposed rulemaking on the Community Reinvestment Act.
The Basel Committee on Banking Supervision is seeking public feedback on how regulators should incorporate “crypto-assets,” including virtual currencies like bitcoin, into bank supervision.
With a new privacy law set to take effect Jan. 1 in California, the American Bankers Association today called on the state’s attorney general to make changes to a set of proposed implementing regulations to help financial institutions comply while ensuring consumer protection.