JD Power Survey reported that the 4 largest US banks saw digital useage reach 72% penetration in April 2020. Additionally, FIS reported seeing new mobile banking registrations increase 200% with the spike of coronavirus and digital banks saw significant rise in account openings, with customers using a digital bank for their primary account up 67% since the start of 2020.
As consumers shift to expect digital, challengers have been more agile to keep up with demand. Incumbents need to focus on infrastructure upgrades to support this shift.
Digital Banking & Infrastructure
COVID-19’S Impact On The Future Of Fintech
In this session, Adam Dell spoke to how consumer banking will need to leverage new technology, and the lasting impact the pandemic will have on the financial industry.
Meeting Demands In A New Digital Age
Having a strategic vision and plan for what’s next will be key for leaders in a new digital age. Cathy Bessant shed light on growing and maintaining digital leadership in an era of digital disruption.
How Can Challenger Banks Become Profitable?
With down rounds for several challenger bank champions - is the appetite of investors for financing non-profitable fast-growing banks drying up? In this sesssion, find out what it would take for challengers to get out of the red.
How Banking as a Service Turns Brands into Banks
What is Banking as a Service and how is it transforming the way modern consumers utilize financial services? This panel explores a survey including data on how Millennials and older Gen Z consumers are interested in financial services through the brands they love.
There's an app for that
Tech has raised the game for customer expectations. Traditional banks are experimenting with neo-bank models run independently from within legacy brands. Does this cannibalize old models or is it a way to innovate from within? Check out this presentation to learn more.
The Next Generation of Digital Banks
The founders of Chime, Varo and Grasshopper debate why there is a need for an alternative to traditional banks, the importance of customer experience, and how regulation and the advantage of acquiring a banking license has on the potential to be a gamechanger.
Subscription Models Reinventing Future Banking
MoneyLion CEO & Founder Dee Choubey on the key differences between traditional bank business models and customer-centric subscription models, the overarching benefits of financial memberships, and how emerging digital banks can better serve a new generation of customers
An industry-led standard for Open Banking?
Open banking is growing rapidly in the US, despite the lack of a regulator led standard. We spoke with Don Cardinal and Tom Carpenter with Financial Data Exchange (FDX) who are leading toward an industry led standard for open banking.
MoneyPot: The OCC Ramps Up with Brian Brooks
We spoke to Brian Brooks, the acting Comptroller of the OCC, about the approval of Varo Money's national bank charter, the OCC announcement on crypto assets, and his plans to help banks create more financial inclusion.
MoneyPot: Open Banking - A Global Outlook
Open Banking is coming. The hope is that as financial institutions share their data, consumer services will improve, competition will increase, and credit will be extended to more people, but is that probable, or only hoped for?
AI used well should be a huge, powerful engine for growth. In fact, no competitive company will be able to live in the future without it. How we use it responsibly is to ensure we capture all the power, but without the unintended consequences of bias, and bias at scale.
Cathy Bessant
Chief Operations and Technology Officer
Bank of America