- Financial institutions need a culture that allows for, and encourages, leadership teams to test & implement new approaches to traditional banking.
PHOENIX — Many financial institutions are facing an innovation crisis. Legacy systems and monolithic structures have stifled innovation, while many technology leaders are moving quickly to pick up the slack. During the first day of our annual FinXTech Summit at the Phoenician, I picked up on a few practical ideas to break down and remove the most common barriers to innovation inside financial institutions.
As our managing editor, Jake Lowary, wrote for BankDirector.com this morning, “the cultural and philosophical divides between banks and fintech companies is still very apparent, but the two groups have generally come to agree that it’s far more lucrative to establish positive relationships that benefit each, as well as their customers, than face off on opposite ends of the business landscape.”
So with this in mind, I invite you to follow the conference conversations via our social channels, where our team continues to shares ideas and information from Day 2 of this event using @BankDirector and @Fin_X_Tech on Twitter. In addition, you can search & follow #FinXTech18 to see what’s being shared with (and by) our attendees.