Thoughtful discussions about current topics, moderated by American Banker editors.
…
continue reading
1
‘Job satisfaction will go up’: How generative AI is changing work
20:00
20:00
Play later
Play later
Lists
Like
Liked
20:00
The technology will take on routine, dull work, says Alenka Grealish, principal analyst at Celent.
…
continue reading
1
How banks’ use of generative AI has evolved over the past year
19:53
19:53
Play later
Play later
Lists
Like
Liked
19:53
Financial institutions have dramatically increased their investment and trust in large language models since 2023. Kartik Ramakrishnan, Capgemini’s deputy CEO of Financial Services and head of banking and capital markets, shares the results of a recent report that analyzed these changes.
…
continue reading
1
Upstart’s CEO Dave Girouard explains brighter outlook for rest of 2024
22:49
22:49
Play later
Play later
Lists
Like
Liked
22:49
Advances in the company’s AI-based lending models have made them better at predicting risk, which has led to growth, he says.
…
continue reading
1
‘These models will always hallucinate’: Seth Dobrin on LLMsDek
18:23
18:23
Play later
Play later
Lists
Like
Liked
18:23
Dobrin, founder of advisory firm Qantm AI and former global chief AI officer at IBM, warns that popular generative AI models were trained on the whole of the internet and hallucinate at an unacceptable rate.
…
continue reading
1
‘Fraud is pervasive throughout the entire industry’: Crypto insider
21:34
21:34
Play later
Play later
Lists
Like
Liked
21:34
Jake Donoghue, author of the book Crypto Confidential, shares some of the worst practices he saw as a founder of a cryptocurrency company.
…
continue reading
1
Some banks are making a Faustian bargain with fintechs: Karen Petrou
18:57
18:57
Play later
Play later
Lists
Like
Liked
18:57
Karen Petrou, the managing partner at Federal Financial Analytics and a long-time observer of banking and regulation, says banks need to do far more due diligence on potential fintech partners and exert more control over these relationships.
…
continue reading
1
What military members need from their banks
25:05
25:05
Play later
Play later
Lists
Like
Liked
25:05
Two veterans and executives at Armed Forces Bank – Tom McLean and Jodi Vickery – share the challenges they see their customers face and new products the bank has rolled out this year to better serve them.
…
continue reading
1
Regulators are wise to be more careful’ after Chevron ruling
47:07
47:07
Play later
Play later
Lists
Like
Liked
47:07
Gene Scalia, the banking lobby’s lawyer on retainer for a potential challenge to Washington’s capital reform effort, discusses the state of administrative law after the overturning of a key legal precedent.
…
continue reading
1
Climate First Bank's plans to expand nationwide
30:17
30:17
Play later
Play later
Lists
Like
Liked
30:17
The Florida bank has emerged from de novo status and can now offer its solar loans in a larger geographic footprint.
…
continue reading
1
Can data ownership be preserved in generative AI?
16:46
16:46
Play later
Play later
Lists
Like
Liked
16:46
Foundational models like GPT-4, the large language model behind ChatGPT, have hoovered up content from publications like The New York Times and social media sites like Reddit and OpenAI, and it faces several lawsuits because of this. John Thompson, global head of artificial intelligence at EY and author of the book Data for All, has set up what is …
…
continue reading
1
What might digital identity look like in the future?
21:30
21:30
Play later
Play later
Lists
Like
Liked
21:30
Proof of identity is critical for many things, including being able to open a bank account, get a job, or obtain health care. Yet proving one’s identity is getting harder in a world of frequent data breaches. We asked Mariana Dahan, founder of the World Identity Network and chair of the Universal ID Council, what she thinks will solve this problem.…
…
continue reading
1
“The law was very clear” inside the Fed master account debate
36:53
36:53
Play later
Play later
Lists
Like
Liked
36:53
Custodia Founder and CEO Caitlin Long says the Federal Reserve has rewritten the rules around accessing the government's payments system. The central bank and a federal court judge disagree. Editor’s note: This conversation was recorded on April 17. On April 26, Custodia Bank filed a notice of appeal, signaling that it will challenge the district c…
…
continue reading
1
'There are risks': Betsy Cohen on banking as a service
17:17
17:17
Play later
Play later
Lists
Like
Liked
17:17
Banking as a service is expensive, it takes time and onboarding has to be done carefully, says the founder of Bancorp Bank, who now runs a venture capital firm that invests in fintechs.
…
continue reading
Cloud-based tech giants like Amazon, Google and Uber are changing the economy, and not for the better, asserts Yanis Varoufakis, a former finance minister of Greece and a professor at the University of Athens, who has written a book about the dangers of what he calls the "cloudalists."
…
continue reading
1
‘Not all fintech is good for people’: Jennifer Tescher
25:45
25:45
Play later
Play later
Lists
Like
Liked
25:45
Financial technology startups have developed some useful technology for consumers, such as automated savings, says Tescher, who founded the Financial Health Network 20 years ago. But some fintech innovations are more questionable.
…
continue reading
1
How banks are helping the fight against illegal wildlife trading
26:17
26:17
Play later
Play later
Lists
Like
Liked
26:17
Geraldine Fleming, financial task force manager at United for Wildlife and Jonny Bell, director, EMEA, LexisNexis Risk Solutions explain how banks around the world are helping to catch criminals who illegally mutilate, kill and sell rhinoceroses, elephants, donkeys and other animals.
…
continue reading
1
‘Don’t fall for the sales pitches’: Advice on deploying AI
25:38
25:38
Play later
Play later
Lists
Like
Liked
25:38
Eric Siegel, author of the book The AI Playbook, explains what it takes to take traditional and advanced artificial intelligence projects from idea to execution.
…
continue reading
1
How challenger bank Upgrade grew during a dismal 2023
29:04
29:04
Play later
Play later
Lists
Like
Liked
29:04
The neobank doubled its membership to five million consumers and hired 200 people last year. Founder and CEO Renaud Laplanche explains how it fared during a time when many fintechs struggled.
…
continue reading
1
How generative AI could reshape financial services in 2024
17:02
17:02
Play later
Play later
Lists
Like
Liked
17:02
Mike Abbott, global banking lead at Accenture, shared some of his predictions and opinions for the year ahead.
…
continue reading
1
Has the fintech movement lived up to its promise?
34:43
34:43
Play later
Play later
Lists
Like
Liked
34:43
The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with “must have” products will fare far better in 2024 than those with “nice to have”…
…
continue reading
1
What to expect from VCs in 2024: Amy Nauiokas, Anthemis Group
28:06
28:06
Play later
Play later
Lists
Like
Liked
28:06
It's been a rough year for fintechs and for the venture capital firms that fund them. Venture capital flows into financial technology companies dropped by 36% year over year to $6 billion in the third quarter of 2023. But Amy Nauiokas, founder and CEO of Anthemis Group, is optimistic about 2024.
…
continue reading
1
2023 was a rough year for bank regulators. What might 2024 bring?
17:08
17:08
Play later
Play later
Lists
Like
Liked
17:08
Over the past year, the national bank regulators’ oversight of Silicon Valley Bank, Signature Bank, Silvergate Capital and other banks that failed has been criticized. Reports of a toxic workplace at the FDIC have come to light. And the OCC hired a Deputy Comptroller and overseer of fintech who had easily discoverable falsehoods on his resume. Mich…
…
continue reading
1
What fintechs think of the CFPB’s proposed data-sharing rule
30:50
30:50
Play later
Play later
Lists
Like
Liked
30:50
Penny Lee, president and CEO of the Financial Technology Association and Steve Boms, executive director of FDATA NA, explain what their members like about the proposed regulation and what they would change.
…
continue reading
1
How community banks can use tech to stay relevant
20:09
20:09
Play later
Play later
Lists
Like
Liked
20:09
Community banks sometimes feel that they lack the budget and staff to compete with larger banks and fintechs on things like mobile and online banking, virtual assistants and most recently generative AI. Jim Perry, senior strategist at Market Insights, suggests steps they can and should take to stay relevant technology wise.…
…
continue reading
1
What might the Sam Bankman-Fried trial mean for banks?
17:12
17:12
Play later
Play later
Lists
Like
Liked
17:12
The case is not really about cryptocurrency but about fraud, points out Seoyoung Kim, department chair and associate professor of finance and business analytics at the Leavey School of Business at Santa Clara University. But regulators and lawmakers are watching and the outcome of the trial will have repercussions throughout finance.…
…
continue reading
1
Citizens’ plans for using generative AI ethically: Beth Johnson
19:24
19:24
Play later
Play later
Lists
Like
Liked
19:24
Johnson, chief experience officer at Citizens Financial Group, shares some of her concerns about advanced AI and plans to use it for purposes including contact center support and coding.
…
continue reading
1
Why Ready Life CEO Ashley Bell is buying a Utah bank
25:51
25:51
Play later
Play later
Lists
Like
Liked
25:51
Bell, an attorney, founded Ready Life to help reduce the racial wealth and homeownership gaps by showing lenders that credit-score-less consumers have been responsible with their money, based on their daily transactions. Now he and Bernice King, Martin Luther King Jr.'s daughter, are buying a community bank just outside of Salt Lake City.…
…
continue reading
1
Are subprime cards a raw deal for people living paycheck to paycheck?
21:58
21:58
Play later
Play later
Lists
Like
Liked
21:58
What are the best options out there for people living on the edge financially who have an emergency expense? The Global Black Economic Forum and the Center for Business and Economic Research recently completed a study called the 2023 Cash Poor Report that dives into this question.
…
continue reading
1
Partner Insights from ExtraHop: Catching cyber criminals in complicated banking networks
17:10
17:10
Play later
Play later
Lists
Like
Liked
17:10
Financial institutions can trade billions of dollars per day and handle sensitive data for millions of customers across the globe, which make them enormously attractive targets for cybercriminals. Their defenses must be top notch and ever evolving to keep up with this threat, but FIs' infrastructures are usually vast and complex, straddling old, le…
…
continue reading
1
The unintended consequences of banning ChatGPT at work
23:42
23:42
Play later
Play later
Lists
Like
Liked
23:42
Though generative AI has limitations and risks, there is a cost to ignoring it, according to Ryan Favro, a managing principal at Capco.
…
continue reading
1
Remote work, generative AI: Tech trends reshaping work in banks
19:55
19:55
Play later
Play later
Lists
Like
Liked
19:55
Immersive technologies and automation are also on the list of technologies that are here, employees want them and companies like banks need to deal with them, says Phil Simon, author of a new book called The Nine: The Tectonic Forces Reshaping the Workplace.
…
continue reading
1
What would it take to close America’s racial wealth gap?
22:24
22:24
Play later
Play later
Lists
Like
Liked
22:24
Marisa Calderon, executive director of a nonprofit community development financial institution, explains why the wealth gap persists, for instance systemic bias in the appraisal process, and what lenders could do to reduce it.
…
continue reading
1
Should banks put a pause on their AI projects?
29:04
29:04
Play later
Play later
Lists
Like
Liked
29:04
Leaders of many of the biggest tech companies recently signed an open letter calling on all AI labs to immediately pause the training of advanced artificial intelligence systems. Seth Dobrin, advisor to the Responsible AI Institute and former chief AI officer at IBM, shares his thoughts on where banks should be careful about using AI.…
…
continue reading
1
Can chatbots learn to understand human emotions?
33:26
33:26
Play later
Play later
Lists
Like
Liked
33:26
Dr. Aniket Bera, associate professor at the department of computer science at Purdue University, explains how AI can be used in the financial services industry to detect when a customer is angry or depressed or even when an employee is upset or about to commit fraud.
…
continue reading
1
Banking crisis’s wakeup call to banks: Risk management needs a refresh
19:49
19:49
Play later
Play later
Lists
Like
Liked
19:49
Sumeet Chabria, founder and CEO of advisory firm Thoughtlinks and a former tech executive at Bank of America, explains some of the technology changes every bank should be making to ensure it’s not the next victim of a bank run.
…
continue reading
1
What bankers can learn from the 2023 banking crisis
24:52
24:52
Play later
Play later
Lists
Like
Liked
24:52
Brian Graham, partner and co-founder of advisory and investment firm Klaros Group, breaks down what went wrong with Silvergate Capital, Silicon Valley Bank and Signature Bank and what banks can do to avoid the problems that brought these banks down.
…
continue reading
1
Are big banks spreading misinformation about fintech?
16:56
16:56
Play later
Play later
Lists
Like
Liked
16:56
Penny Lee, president and CEO of the Financial Technology Association, is pushing back on some claims banks and their trade groups have recently made about financial technology companies, for instance that fintechs don’t meet consumer financial protection standards.
…
continue reading
1
‘Fighting evil is not competitive’: Banks help detect crime at Super Bowl
21:51
21:51
Play later
Play later
Lists
Like
Liked
21:51
More than 50 million people are caught up in modern slavery, according to the U.N. Hidden crimes like human trafficking and elder abuse are more common than most people think. Ian Mitchell at The Knoble, who led crime detection at several financial institutions, works with banks to find signs of abuse and help law enforcement to help victims and ca…
…
continue reading
1
How this credit union learned to love no-code software
15:06
15:06
Play later
Play later
Lists
Like
Liked
15:06
Matthew Pincoski, director of engagement systems at Ent Credit Union in Colorado Springs, describes some of the ways he and his team have been using low-code and no-code software to do things like create next-best-offer messages for customers.
…
continue reading
1
How leaders can apply Buddhist principles in the workplace
19:48
19:48
Play later
Play later
Lists
Like
Liked
19:48
Enlightenment can be found in everyday activities like work, says Thane Lawrie, author of the book, The Buddhist CEO. Lawrie explains some of the Buddhist ideas that, when practiced, can make people better leaders, colleagues and family members.
…
continue reading
1
What the rising rate environment means for banks in 2023
18:28
18:28
Play later
Play later
Lists
Like
Liked
18:28
Mike Abbott, global banking lead at Accenture, predicts the trends that will change the way banks operate in the coming year, including a rate environment that hasn't been seen in more than a decade, a comeback for branches and soaring credit delinquencies.
…
continue reading
1
What kinds of financial help do small businesses need to weather 2023?
23:12
23:12
Play later
Play later
Lists
Like
Liked
23:12
About half of small businesses nationwide are now classified as financially unhealthy: They have difficulty paying bills on time, inadequate cash reserves or insufficient insurance. Eytan Bensoussan, founder and CEO of NorthOne, a neobank for small businesses, shares his thoughts on how banks and fintechs can help these customers survive.…
…
continue reading
It’s likely that laws and regulation will be enacted in 2023 that will rein in cryptocurrency-related companies and banks’ involvement with such companies. Georgia Quinn, general counsel, and Rachel Anderika, chief risk officer at Anchorage Digital, share the rules they think should apply.
…
continue reading
1
Kristy Kim says buy now/pay later is like fast food
18:43
18:43
Play later
Play later
Lists
Like
Liked
18:43
The founder and CEO of the fintech Tomo Credit says the popular form of credit helps consumers perpetuate bad habits.
…
continue reading
1
‘Democrats lost the house. I’m less convinced that Republicans won it.’
51:00
51:00
Play later
Play later
Lists
Like
Liked
51:00
A panel of experts discuss the midterm elections, the FTX blowup and the legislative and regulatory policy implications that both will have in Washington.
…
continue reading
Theo Lau and Brad Leimer, who run the consultancy Unconventional Ventures, have come up with three predictions for banks’ future. They also have advice on what financial institutions need to do to make the best-case scenario a reality.
…
continue reading
If Web3 is real, where do banks fit in — if they do? Alex Tapscott, managing director of the digital asset group at Ninepoint Partners and co-author of the book Blockchain Revolution, explains how the internet has evolved and how banks might take advantage of the latest iteration of it.
…
continue reading
1
Why Jill Castilla is developing a digital bank for military members
21:41
21:41
Play later
Play later
Lists
Like
Liked
21:41
About 75% of military recruits arrive at a training base with no bank account and have to be bussed to a local bank to open one, says Jill Castilla, CEO of Citizens Bank of Edmond. The bank’s team is building a platform that will help service members save and build credit.
…
continue reading
1
When will big banks pay more for deposits?
20:41
20:41
Play later
Play later
Lists
Like
Liked
20:41
Technology has turned the art of deposit pricing into a science, say Betty Cowell and Rohan Shah, experts at Simon Kucher & Partners. They also predict when the large banks will raise their rates.
…
continue reading
1
We’ve become a culture where we live in the moment’: Suze Orman on savings woes
23:58
23:58
Play later
Play later
Lists
Like
Liked
23:58
Half of Americans haven’t saved enough to cover three months of expenses. Personal finance expert Orman says everyone should have 12 months of emergency savings, and she’s working with a fintech, SecureSave, to help workers build a nest egg.
…
continue reading