American Banker Podcast

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.

Shawn Rose, chief digital officer, and Holly Pontisso, vice president of customer experience at Scotiabank at Toronto, share how they have adapted their digital offerings for people over 50, including making sure ageist attitudes don't creep into digital channels or messaging.

Most fintechs entertain the idea of getting a commercial banking license from time to time, but Current is content partnering with banks, says founder and CEO Stuart Sopp.

Ludwig, an ex-banking regulator and CEO of Promontory Financial Group, describes how economic conditions for middle- and low-income Americans have declined and advocates a living wage, investment in infrastructure, smart regulation and other solutions.

The unit as of September had 20% more clients than a year earlier. Liu, who is head of North America for Citi Private Bank, explains the changes she's made to help her group attract and serve millennials, Gen Z, Asian Americans and families.