Podcasts

The Federal Reserve has the authority to lend to nonbanks in an emergency, and it isn't afraid to use it. But is that authority too broad — or too narrow?

Thousands of customers have called OceanFirst Bank with a new set of technical questions: How do you download an app? Make a mobile deposit? Load a debit card into Apple Pay? CEO Chris Maher explains how the New Jersey company is handling the shift to digital banking.

Hood Qaim-Maqami, divisional CIO at the Bank of New York Mellon, has ideas about how technology can be used to make people feel connected.

Cold, hard cash is inevitably going away. Banks have a responsibility to help consumers who don’t have smartphones or even email addresses be prepared, says Shawn Rose, chief digital officer of Scotiabank.

Others, like JPMorgan Chase, have shut down their mobile-only brands. But Rising Bank, Midwest BankCentre's three-year-old neobank, is meeting its deposit goals, adding new products and avoiding cannibalization, says Dale Oberkfell, the bank's president.

Olaf Carlson-Wee, founder and CEO of the cryptocurrency hedge fund Polychain Capital, discusses which digital currencies and blockchain technologies are reshaping payments and which are “nonsense projects.”

Todder Moning and Valerie Lancelle, who work in the bank’s innovation group, said they were especially impressed by demos of immersive technology, 5G and ambient computing.

Venture capitalists will shift their focus to fintechs that support financial inclusion, according to Emmalyn Shaw, managing partner of the VC firm Flourish. Meanwhile, challenger banks will continue to grow, she says.

Brian Hamilton, CEO of the challenger bank One, says some have as their spending has slowed during months of economic lockdown. And the rest can be coached to make smarter choices, he argues.

President-elect Joe Biden will likely have to contend with a Republican-controlled Senate. That could have important implications for his approach to financial services policy.