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Regtech

Is Trump Good for Fintech, or Bad?

There has been an enormous sense of anticipation flooding through the community and regional banks since the election. President-elect Donald Trump’s opposition to the Dodd-Frank Act, which has created a stifling regulatory environment, is well known and bankers feel that relief is on the way. By contrast, the election results have produced a sense of […]

What To Know About the New Fintech Charter

Don’t expect an onslaught of fintech companies rushing to become banks. The recent announcement that the Office of the Comptroller of the Currency would begin accepting applications for special purpose national bank charters from fintech companies was met with gloom from some in the banking industry, and optimistic rejoicing from others. For now, the impact […]

CFPB Assumes “Catalyst” Role in Fintech Innovation

In 2012, the Consumer Financial Protection Bureau (CFPB) recognized that the industry we now call fintech was starting to accelerate the delivery of cutting edge technology products to the financial services marketplace. The CFPB was aware that many of these offerings would make banking faster and easier for consumers and might also allow banks to […]

Can Watson Solve the Bank Regulatory Riddle?

You have probably seen recent television commercials where “Watson,” IBM Corp.’s vaunted supercomputer, chats with Stephen King about novels and Bob Dylan about songwriting. And perhaps you remember a few years ago when Watson defeated two highly accomplished past winners of the game show Jeopardy! in a three-way competition. Well, IBM is now focusing Watson’s […]

Creating Regulatory “Sandboxes” to Protect Innovation

Fintech regulation has presented a confusing picture here in the United Sates for several years now. Various federal agencies have at least some measure of control over fintech companies, and it can be challenging for innovative new startups to figure out which regulatory authority they are supposed to be talking to at any stage of […]

The Robots Are Coming!

Actually, to some degree they are already here. Today we can buy robots to do simple tasks around the home, and we increasingly see industry turning to robotics to perform functions that were once done by humans. Robots are faster, more efficient, do not take coffee breaks and are not concerned with work/life balance. They […]

Cutting Compliance Costs with Regtech

I was having a discussion about the future of banking with some fellow investors recently and one of my younger and more tech savvy associates opined that fintech companies would soon make traditional branch banking obsolete. It is a provocative idea but I am pretty sure he is wrong. Two decades from now it will […]

How Mobile’s Popularity is Disrupting the Regulators

The world is going mobile and dragging banking along with it kicking and screaming. I am something of an anachronism as I still go into the branch once in a while and still worry about using my phone to deposit a check. My adult children, on the other hand, use their phone for everything, including […]

Gaining a Competitive Advantage through Regtech

The newly-coined term “regtech,” which is a combination of regulation and technology, is a useful concept to a highly-regulated industry like banking. Regtech is distinct from fintech in that regtech refers to a combination of regulatory strategies that a regulated business can use to secure a business advantage. Banks sail on a sea of pervasive […]

Creating A Culture of Innovation

Filmed during Bank Director’s annual FinTech Day in New York City at the Nasdaq MarketSite, Mike Carter, CEO of BizEquity, looks at whether or not traditional banks can truly innovate under a cloak of heavy compliance and regulation.