U.S. Banks and Regulators Still Lag Behind the Rest of the World

In his most recent book, Bank 4.0, Moven founder Brett King explains how U.S. banks and regulators are still significantly behind other countries when it comes to digital; banks have made strides with better tools available but they still rely heavily on branches and their traditional revenue model; King explains to Forbes, “Old regulated systems on rails can’t survive  — even with protectionism — because they simply aren’t fast, flexible and scalable enough in a world where 200,000 internet-enable smartphones are sold every hour of every day.”; he also goes on to say banks should be putting their head of digital ahead of their head of branches or else risk the fate of blockbuster or Kodak. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.