Theo Lau and Brad Leimer, who run the consultancy Unconventional Ventures, offer three possible visions for banks' future ranging from gloomy to upbeat and advice on how financial institutions can make the best-case scenario a reality.
About 75% of military recruits arrive at a training base with no bank account and have to be bussed to a local bank to open one, says Jill Castilla, CEO of Citizens Bank of Edmond. The bank's team is building a platform that will help service members save and build credit.
"Animal welfare scores low in priority at many financial institutions" in the U.S., says Merel van der Mark, animal welfare and finance program manager for Sinergia Animal, an organization based in Brazil that has been maintaining a ranking of how banks around the world perform on several measures of ethics with regard to animals.
Consumer Bankers Association president and CEO Richard Hunt is retiring from the organization this summer, and in a wide-ranging interview he offers his thoughts on the future of the banking industry, the direction of the Consumer Financial Protection Bureau and how banks can compete against less-regulated fintechs.