Innovation in financial services sometimes overlooks the pressing needs of consumers who teeter on the edge of financial peril. Causes for trouble are many: staggering student loan debt, massive credit card balances and minuscule savings. Yet fintechs can make a major difference. To explain how, we'll chat with David Reiling, CEO of Sunrise Banks and author of Read More
Amy Radin believes in the importance of innovation—but unlike many of today’s top pundits of the latest and greatest, she possesses a clear vision of how innovative concepts can be put into practice. And don’t expect to impress her with plenty of sizzle but little steak. An Innovation Circle judge for the 2019 BAI Global Innovation Awards, Read More
By and large, banks have mastered the delivery of basic digital services, with 81 percent of consumers using their banks’ channels in some form or other, according to Oracle’s New Digital Demand in Retail Banking survey. While customers report that they’re generally very satisfied with these basic services, their experiences with more complex banking services fall short. Read More
More than 1.7 billion people across the globe remain unbanked, according to the latest data from the World Bank’s Global Financial Inclusion database. And it’s a growing problem in countries such as Sri Lanka, where a large portion of the population is forced to operate in cash and outside of the financial system. “If you’re poor, earning Read More
Thus far in 2017, interest rates haven’t risen as quickly or high as many industry prognosticators anticipated. And with interest rates stagnant for so long, you couldn’t blame some bankers for consulting a ouija board as opposed to fearless Fed forecasts. But for those willing to stay more a practical course, signs point to steady movement, with Read More
The BAI Global Innovation Awards program has fielded thousands of submissions over its seven-year history. It's given BAI president and CEO Debbie Bianucci insight as to what true banking innovation looks like. While fintech may be an innovation driver, it's far from the only one. On this podcast, Bianucci discusses the many facets of banking innovation, from Read More
As of November, BAI’s hometown could finally call itself home of the defending World Series champions, the Chicago Cubs. It took us 108 years to get there and to put that in perspective, the drought dated back to 1908, well before BAI’s founding in 1924. I’m a proud Chicago native and to say we’re still savoring our Read More
Innovation comes from people meeting up in the hallways or calling each other at 10:30 at night with a new idea, or because they realized something that shoots holes in how we’ve been thinking about a problem —Steve Jobs Looking at the macro landscape, it’s clear many traditional financial services organizations have answered a critical call Read More
Financial services organizations are used to increased regulatory requirements for FinTech and other vendors—so accustomed, in fact, that the established due diligence review process to assesses a vendor’s capabilities now reads like a regulation laundry list. It includes, but is not limited to: Financial statement analysis Management review Risk management assessment Funding Insurance Internal and external audits Read More
On a recent BAI Banking Strategies podcast, Chris Skinner outlined the tremendous implications of billions of connected devices, and how that calls us today to innovate and expand our efforts to embrace a near future when channels and media boundaries will vanish. His reflections come at a time when industry leaders continue to hash out—and hotly debate—how Read More
