PayThink

In the new open banking world, banks are no longer just service providers but platform enablers that offer everything from payment processing to account verification through application programming interfaces.

Open banking offers immense opportunities for the industry and the consumers it serves, but it will only deliver on this potential if banks proactively build customer trust and work together to assure standardization.

Partnerships between innovative banks and fintechs must adopt a "shared responsibility" model for the safety and soundness of the partnership.

Regulators need to consider the risk and complexity of a BaaS companies and connect the dots to bank safety and soundness and consumer protection.

Whether addressing a large audience or interacting with individual employees, the most effective communicators are those who leave their audience feeling a little smarter for having listened to them.

Much of the conversation about artificial intelligence in banking focuses on compliance. But we should seriously consider the potential AI-powered regulation could have to deliver more adaptive and responsive oversight.

The agency's attempt to impose its oversight on asset managers who passively invest in banks is duplicative of efforts by the Federal Reserve. It will result in higher costs for banks and lower returns for investors.

President Donald Trump's concerted effort to bring the entirety of the executive branch under his direct control defies tradition, and in some cases, likely the law. Banks have thus far voiced little objection, but they should know how critical the rule of law is to their bottom line.

Too often, banks confronting a problem with their anti-money-laundering compliance opt for quick fixes that fail to address the root of the problem. Building a good corporate risk culture takes time and investment.

Banks are analyzing their regulatory exposure through the lens of "red state" versus "blue state" requirements — a consideration that would have been unthinkable just a few years ago.