“Return on experience” is now a useful measure for banks. The good news is that the tools for making the qualitative quantifiable already exist.
Which applications can be moved safely as they are, which ones should be modernized before they are moved and which ones should not be moved at all?
Acting Comptroller of the Currency Michael Hsu called for establishing an “intentional architecture” for stablecoins that would focus on “stability, interoperability and separability,” and also take into account privacy, security and the need to prevent illicit finance.
The CFPB is examining the effects of a concentrated core platform marketplace on consumers and banks, CFPB Director Rohit Chopra said today. Speaking to the bureau’s community bank and credit union advisory councils, Chopra said he is “concerned that the core services providers that small players rely on have too much power in the system.”
In a letter to FDIC-insured banks, the agency requested that any institution considering engaging in crypto-related activities provide notification to the appropriate FDIC regional director.
The FDIC and the Financial Crimes Enforcement Network recognized three teams for excellence in a recent “tech sprint” to develop solutions for banks and regulators to help measure the effectiveness of digital identity proofing—the process used to collect, validate and verify information about a person.
When it comes to their private banks, millennials are not happy.
Acting Comptroller of the Currency Michael Hsu today told attendees at ABA Risk 2022 that Russia’s invasion of Ukraine could trigger a recession.
The Financial Stability Board today outlined its work priority areas for 2022, including a timeline for the publication of a series of research reports on a range of financial stability topics.
Banking as a service—where organizations provide retail banking products using an existing licensed institution’s infrastructure—is expected to reach a value of $7 trillion by 2030, according to a new report from core technology provider Finastra.