Risk & Compliance Banking Innovation: Why 2018 is the Year it Puts on its Overalls

Jan052018

’Tis the season for 2018 predictions, and numerous financial industry practitioners, observers and experts (including my colleagues at FICO) are getting in on the fun. I don’t have a concrete prediction for the next 12 months (which makes it much easier to avoid being held accountable to the accuracy of that prediction this time next year). I do, however, have an observation around banking innovation. In The Financial Brand’s impressively well-researched and very informative annual “Top 10 Retail Banking Trends and Predictions” piece, an interesting statement caught my eye: Interestingly, with the exception of one trend (testing and use of blockchain technology), the trends and order of these trends were the same as last year… The fact that the list of trends identified by the financial services industry has remained relatively consistent could be a symptom of a greater problem. The banking industry is moving much too slow, and legacy... [Read More]

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