As our editor, Jack Milligan, writes in How One Large Bank Fosters Innovation, “conventional wisdom holds that banks are not very good at innovation — and large banks, with their entrenched bureaucracies and clumsy legacy systems, are probably worst of all. It might then come as a surprise that Bank of New York Mellon Corp. has run a highly successful innovation program that has made a meaningful contribution to the bank’s profitability, and also manages to get most of the company’s 10,000 employees involved in the process.”

Earlier this week, I shared how Declan Denehan, BNY Mellon’s managing director for strategy and innovation, provided his thoughts on staying relevant while engaging with the “startup ecosystem” during Monday’s FinTech Day.  Jack’s article offers a great summation of Declan’s perspectives — and for today’s post, I simply wanted to recap the event as a whole.  The fun for our team started well before the doors opened at 9:00; however, FinTech day kicked off with:

  • A number of video shoots in the NASDAQ studio that we will post to BankDirector.com;
  • Continued with a live-streamed discussion focused on innovation with Declan and me; and
  • Wrapped up with a closing bell ceremony and a lot of great company logos rotating on the exchange’s video board in Times Square.

FinTech Day, a collaboration between Bank Director and NASDAQ OMXattracted over 40 participants from 30 financial technology companies.  For those of you that joined us, I am pleased to share the link to the official photo gallery from the ceremony.  We are happy to send over any that you’d like as our way of saying thank you for joining us.  Simply leave a comment below, reach out via LinkedIn or Twitter and let me know what you’d like.  Below, some of the pictures in the gallery…

Before wishing everyone an Aloha Friday, let me thank the entire Bank Director team — and in particular, Kelsey Weaver, Laura Schield, Michelle King, Mika Moser, Jack Milligan and Joan Susie — for your efforts to make the day a success.  Each of you contributed something special and for that, I am very appreciative and already getting excited for next year (dare we call it FinTech 2.0)!

http://wp.me/p3ajpF-zO As our editor, Jack Milligan, writes in How One Large Bank Fosters Innovation, ”conventional wisdom holds that banks are not very good at innovation — and large banks, with their entrenched bureaucracies and clumsy legacy systems, are probably worst of all.

I just received a few pictures from yesterday’s closing bell ceremony at NASDAQ.  With me is our Publisher, Kelsey Weaver, and executives from various technology companies — both established and just starting up.  Thanks to the entire team at Bank Director; specifically, Mika Moser, Laura Schield, Jack Milligan and Michelle King, for making this year’s FinTech Day a wonderful success!

I’ll have more on FinTech Day — a collaboration between the exchange and Bank Director that celebrates the contributions of financial technology companies to banks in the U.S. — later today along with additional pictures and perhaps a video or two.

Ringing the Closing Bell at NASDAQ I just received a few pictures from yesterday’s closing bell ceremony at NASDAQ.  With me is our Publisher, 

Bank Mergers and Acquisitions

Bank Mergers and Acquisitions

Before I head out to California to speak at Moss Adams’ annual Community Banking conference, a look at the principal growth strategy for banks: mergers and acquisitions.

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Over the last few years, bank advisers have made the case that consolidation should increase due to significant regulatory burdens, lack of growth in existing markets and aging boards and management teams that are “fatigued” and…

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A Pop Quiz on the Future of Banking

A Pop Quiz on the Future of Banking

I was not planning on a sixth consecutive column focused on non-bank competition; however, as I prepare to present at Moss Adams’ 14th Annual Community Bankingconference in Huntington Beach, California on August 26, a “bonus” post that serves as number six.  As you will see, today’s piece builds on the premise that many community bank leaders have real opportunities to expand what banking means…

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Don’t Be Crowdsourced Out Of Business

Don’t Be Crowdsourced Out Of Business

This is the fifth and final piece in my series on emerging threats to banks from non-financial companies — one that shines a light on the pooling of money from many different people to make an idea happen. Click on any of these titles to read my previous posts: For Banks, the Sky IS FallingPayPal is Eating Your Bank’s LunchThe Bank of Facebook and Is WalMart the Next Big Bank.

Next week kicks…

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Is Walmart the Next Big Bank

Is Walmart the Next Big Bank

Part four of a five piece series on emerging threats to banks from non-financial companies. To read parts one through three, click on “For Banks, the Sky IS Falling,” “PayPal is Eating Your Bank’s Lunch” and “The Bank of Facebook.”

At the risk of crashing through an open door, did you know that the retail juggernaut Wal-Mart Stores Inc. launched Bluebird in partnership with American Express late…

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The Bank of Facebook

The Bank of Facebook

Part three of a five piece series on emerging threats to banks from non-financial companies.  For context on today’s piece, take a look at “For Banks, the Sky IS Falling” and “PayPal is Eating Your Bank’s Lunch” (aka parts one and two).

As banking becomes more mobile, companies that power our mobile lifestyle have emerged as real threats to financial institutions.  While common in…

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