As part of its efforts to facilitate community bank innovation, the Federal Reserve may provide banks with information about core processors and other critical third-party vendors that the banking agencies supervise directly, Fed Governor Michelle Bowman said today at ABA’s Conference for Community Bankers in Orlando, Florida.
Creating a culture of innovation in your bank means you have to start breaking things apart before you can fix them. This can be scary stuff. But hang on. Before you start worrying about risk and rules, think about what requirements and conventions can’t be touched—and which ones are ripe for improvement.
As part of an effort to accelerate financial-sector innovation and incubate fintech startups that are well-equipped to partner with banks, Canapi Ventures today announced $545 million in commitments for its two inaugural venture capital funds—including a passive investment from ABA.
The Consumer Financial Protection Bureau wants to spur innovation in the use of artificial intelligence and machine learning in financial services, CFPB Director Kathleen Kraninger said today.
How today’s banks can build a tech culture that’s a catalyst for growth, yet keeps customers at the center of the banking experience.
In keynote remarks last night at the St. Louis Fed’s community banking research conference, bank CEO Julieann Thurlow outlined Massachusetts-based Reading Cooperative Bank’s innovation journey and how it improved financial inclusion in the communities it serves.
Highlighting consumer demand for seamless digital delivery of financial services, FDIC Chairman Jelena McWilliams today emphasized the role of core banking technology companies in facilitating digital transformation.
The mindset of bank compliance officers is shifting to focus on how they can support product innovation and change management, applying their expertise in regulations and process management ultimately to accelerate the innovation process.
As part of its ongoing effort to foster financial services innovation, the Consumer Financial Protection Bureau today issued three new policies to help banks safely and compliantly develop innovative products and services.