American Banker Podcast

Some attempts to charge for basic banking services (e.g. Digit and Bank of America) have crashed and burned. Wei Ke, a partner with Simon-Kucher & Partners, explains how banks can help consumers get over their price sensitivity.

As the American working population ages and continues to be disrupted by technology, the U.S. needs to create skills training that will help them navigate the changing jobs landscape, says Federal Reserve Bank of Dallas President Robert Kaplan. “Until we improve this, I think the workforce will not meet its potential,” he says in the latest American Banker podcast.

At a time when many banks struggle to win over millennials, Ally Bank appears to be bringing them in: more than 60% of new customers are millennials. President Diane Morais explains how the bank is getting the attention of a younger generation. One popular product: debit controls.

The Faster Payments Task Force of the Federal Reserve  just released its final report with proposals to be adopted by 2020.   Today, Ron Shevlin hosts a member of that task force-  Travis Dulaney, Founder and CEO of Push Payments.   James Wester, Research Director of Worldwide Payment Strategies at IDC will also being joining to discuss the 10 different proposals, the future of banking, and the idea of virtual accounts vs legacy accounts. Also, we are talking about #VoicePay and #AmazonPay with Brian Roemmele. Julie Conroy, from Aite Group, talks to Ron about the new uses of AI and how it will enhance faster payments and assist fraud prevention accuracy.  

Christine Duhaime, an anti-money-laundering attorney in Toronto, lays out the reasons banks should become early experts in and assist in initial coin offerings. She also lays out the risks, especially in the wake of the SEC’s report suggesting some ICO tokens are really securities.

Former Comptroller of the Currency Eugene Ludwig shares stories from his days as a top regulator during the Clinton Administration, the reasons why bank rules should be reviewed and maybe rewritten, and why he thinks the revolving door between Washington and the private sector is ok.

Nestled in the heart of Silicon Valley, Plug and Play is the world’s largest tech accelerator. Sometimes called University 165, it has given early homes to some of the greatest tech success stories like Google, Paypal, and Logitech. Known for pairing startups with larger companies needing their solutions, this year, Plug and Play ran 11 “verticals” with 90 participants that all expect to leave the program with investment and a pilot deal. The organization invited Breaking Banks to profile its fintech vertical. We find out the history of Plug and Play and the focus on fintech through Scott Robinson, its fintech VP. Then we talk to three of the presenters who are participating to get a flavor of the scope and diversity of places that Plug N’ Play is investing: Flutter Wave CEO Iyinoluwa Aboyeji; BigID CEO Dimitri Sirota; Zumigo CEO Chirag Bakshi

Tom Michaud, the president and CEO of Keefe Bruyette & Woods, a top matchmaker for bank mergers, explains why large banks will soon return to dealmaking after a long absence. He also discusses the case for starting a new bank in today's environment, the enduring value of retail branches, and more.

We are celebrating our 200th episode today!   Brett is hosting Chris Skinner, Dave Birch, and Sam Maule  (all show regulars) to discuss how much has changed since we launched in May of 2013 and how much has stayed the same.   On the discussion table are:  alipay, Jack Ma, blockchain, AI, building a true digital system, payments, financial inclusion, and favorite guests and lessons from the previous 199 episodes.   It is all wrapped up in a Moment of Snark from Ron Shevlin.

To date, capital curbs have limited their participation in U.S. collateralized loan obligations, but Chinese banks and insurance companies are sophisticated investors with a big appetite for yield. Tricia Hazelwood, managing director and head of structured products at MUFG Securities, explains how China views US CLOs and how this new and potentially large source of capital could impact both deals and the leveraged loans used as collateral.