FDIC Chair Jelena McWilliams joins IIF CEO Tim Adams and Brad Carr, discussing the shared journey for banks and supervisors in adapting and embracing digitization.
Jelena describes the efforts of the FDIC to encourage and enable safe innovation across the banking sector, from large multi-national banks to community banks. She highlights the specific efforts of the FDIC to develop its own capabilities, including initiatives such as joint labs and projects with banks to incubate new solutions for customers. In looking at banks’ adoption of customer-led innovations, she also discusses some of the diverse new business models emerging.
Jelena emphasizes the opportunities to promote greater financial inclusion, and using innovations to reach more of the currently unbanked and underbanked population, relating her own experiences in entering the financial system. We also discuss the role of digital technologies in helping to improve protections and to manage or overcome risks.
In upcoming episodes of FRT:
- We debrief the recent IIF, IFM & World Bank meetings and DC FinTech Week, together with Prof. Chris Brummer
- Bank of England ‘Future of Finance’ report author Huw van Steenis joins us, to discuss the key takeaways from that report
- We’ll look further at Cloud resilience and portability, including the GoogleAnthos development by GoogleCloud
Previous FRT episodes can be found on iTunes or Apple Podcast, Google Play, Spotify, and the IIF website, including:
Cloud and Critical Infrastructures
New IIF Machine Learning Report