It may come as a surprise to many of us that consumers are generally satisfied with their banking relationships. However, this doesn’t mean that banks have nothing to worry about. Alternative providers and FinTech companies present a double-edged risk to traditional banks. First, there is the eminent danger of aRead More
Post Tagged with: "Bank Innovation"
Long live the fintech accelerator. With all due respect to American Banker‘s BankThink portal and Forrester Research, the future could not be brighter for fintech accelerators, and I write that not just because Bank Innovation has launched an, er, fintech accelerator with Fiserv, U.S. Bank, and Cross River Bank. Last week,Read More
Dan Kimerling, head of research & development at Silicon Valley Bank, has joined the speaker faculty at Bank Innovation 2016. Kimerling co-founded Standard Treasury with Zac Townsend in 2013. Standard Treasury developed software to build an API-driven bank and was a leader in the space of fintech startups building software specifically for banks. Silicon Valley Bank acquired Standard Treasury in the summer of 2015.
APIs — application programming interfaces — allow banks to create ecosystems of innovative products and technologies. Sounds good — but what prevents banks from launching initiatives to open their APIs? According to new research from Bank Innovation and the Open Bank Project, the primary obstacle is corporate culture and bureaucracy. More thanRead More
Bankers may be taking undue solace in Chris Skinner’s April 10 American Banker BankThink post, “Like Airlines and Pharma, Banking’s Too Big to Disrupt.” I was party to the specific round of sparring he cites in his article over whether financial technology startups will overthrow the banking industry. And although I agree with many of Mr. Skinner’s […]
Late last year I was asked by my good friend Jim Marous of The Financial Brand to contribute to his crowdsourced list of 2015 Digital Banking Trends and Predictions. My prediction was that we would see an increase in the current trend of banks investing in innovation. More newly-minted Chief Innovation Officers, and more establishments of new […]
5 Ways to Kill Your Innovation Initiative I often write and speak about the “Business Prevention Department” that lurks inside banks. Devoted to sniffing out and stamping out anything that looks “risky”, the Business Prevention Department is staffed with […]
Some of them, anyway. But you won’t read that on their tombstones. Allegedly, John Authers recently wrote an article in the Financial Times entitled “Disruptive technology will not kill banks“. I say allegedly because despite the article being cited and commented […]
Recap of FinTech Week in New York After spending two weeks meeting with bankers all across the Southeast United States on our Bank Innovators Road Show, all of that activity reached a crescendo with FinTech Week in New York last week. Monday September 22 Bank […]
While banks are on a quest to improve efficiency ratios, I’ve noticed a recent increase in the use of the word “innovation” in more and more bank job descriptions and even in bank job titles.