Leaders face high but often ambiguous expectations, making executive presence a key model for behavior and tone-setting, whether with yourself, with your team or on an organizational level, Scott Eblin writes. "The key is to make the shift from being the go-to person to the person who creates and leads teams of go-to people," he writes.
Two startups, Manafa Capital and Scopeer, have received the first two fintech licenses issued by Saudi Arabia's financial regulator. The Capital Market Authority said the companies would be allowed to run electronic crowdfunding platforms.
The woman nominated to lead the Consumer Financial Protection Bureau worked for Sen. Sherrod Brown, D-Ohio, when he was a House member, but Brown has indicated he is not likely to support her nomination. He says he is concerned about fellow Ohioan Kathy Kraninger's lack of interest in strengthening the bureau.
Some Democrats are expressing concerns that if Judge Brett Kavanaugh is confirmed to the Supreme Court, the court could move toward dismantling the Consumer Financial Protection Bureau. As a federal appeals court judge, Kavanaugh ruled in 2016 that the CFPB's single-director structure was unconstitutional.
The Consumer Financial Protection Bureau is one of three agencies joining the Justice Department on a task force to combat fraud. The coordinated effort is expected to keep multiple agencies from fining companies for the same behavior.
Toronto-Dominion Bank will become Canada's biggest money manager if its acquisition of Greystone Capital Management is approved. The bank has agreed to purchase the asset-management company for $603 million in cash and stock.
Industry veteran Christopher McComish has joined Chemical Bank as chief banking officer for consumer and wealth management. McComish was president and CEO of Scottrade Bank and has worked for BMO Harris Bank and Wachovia Bank.
Small and medium-sized businesses are increasingly adopting financial technology solutions, but the pace varies greatly by the type of tech, according to a report by Germany-based Fachhochschule des Mittelstands. Cash flow management systems rate highest, however, with bank-owned tools more popular than those provided by software developers.
Coming after generations of minimal progress, technology is changing financial services in the 21st century at a record pace and posing a considerable challenge for the industry. Randy Bean looks at the state of play and a future driven by artificial intelligence, machine learning and big data.
The transition to open banking and accompanying regulatory changes, as exemplified by the Second Payment Services Directive (PSD2), are posing challenges for banks ill-equipped to handle them. This is where fintech startups can help, serving as trusted partners rather than competitors.