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/ contents / 4 On the Web 10 ways fintech can flop; “Cowboys & Dinosaurs”; “Tech Touchpoints”

Dec. 2016-Jan. 2017, Vol. 2, No. 6

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Editorial and Executive Offices: 55 Broad St., New York, N.Y. 10004 Phone: (212) 620-7210 Fax: (212) 633-1165 Email: bankingexchange@sbpub.com Web: www.bankingexchange.com Twitter: @BankingExchange LinkedIn: www.linkedin.com/company/ banking-exchange

6 Like it or Not Change is a given—how to make it work for you and your bank is the question

Subscriptions: (800) 895-4389, (402) 346-4740 Fax: (402) 346-3670 Email: bankingexchange@omeda.com

8 Threads BofA’s virtual assistant “Erica”; Postcards from a good quarter; Prospects for CFPB change; Time for “platformification”

37 42 Bank Tech

Chairman & President Arthur J. McGinnis, Jr.

13 Seven Questions

Editor & Publisher William Streeter bstreeter@sbpub.com

The Business Blockchain author William Mougayar on why blockchain technology is the next internet

Executive Editor & Digital Content Manager Steve Cocheo scocheo@sbpub.com

37 Compliance Watch

Creative Director Wendy Williams

When cryptocurrencies and AML meet, banks must rethink BSA/AML

Art Director Nicole Cassano

40 Idea Exchange

Graphic Designer Aleza Leinwand

Cambridge Savings partners with fintech robo advisor Sigfig, and learns agility

Editorial & Sales Associate Andrea Rovira arovira@sbpub.com Contributing Editors Ashley Bray, John Byrne, Nancy Castiglione, Dan Fisher, Jeff Gerrish, John Ginovsky, Lucy Griffin, Mike Moebs, Ed O’Leary, Melanie Scarborough, Lisa Valentine

ROUNDTABLE Sponsored

LinkedIn’s unseen CRM and IT impact

47 Industry Resources

Differentiate with data

Director, National Sales Robert Vitriol bvitriol@sbpub.com

How banks can use data to maximize touch points throughout the customer lifecycle

White papers, webinars & more

Production Director Mary Conyers mconyers@sbpub.com

48 Counterintuitive Don’t miss the “pivot,” warns former Apple CEO John Sculley.

27 Insights on using data for a better banking experience Subscription Information: Banking Exchange Magazine (Print ISSN 2377-2913, Digital ISSN 2377-2921) is published February/March, April/May, June/ July, August/September, October/November, December/January by Simmons-Boardman Publishing Corp., 55 Broad Street, 26th Floor, New York, NY 10004 Pricing: Qualified individuals in the banking industry may request a free subscription. Non-qualified subscription printed or digital version: 1 year, financial institutions $67; other business $93; foreign $508. 2 year, financial institutions $114; other business $155; foreign $950. Single Copies are $35 each. Subscriptions must be paid for in U.S. funds. Copyright © Simmons-Boardman Publishing Corporation 2016. All rights reserved. Contents may not be reproduced without permission. Reprints For reprint information Contact: Mary Conyers, (212) 620-7250, mconyers@sbpub.com For Subscriptions, & Address Changes: Please call: (800) 895-4389, (402) 346-4740, or Fax: (402) 346-3670, e-mail: bankingexchange@omeda.com Write to: PO Box 3135, Northbrook IL 60062-2620 Postmaster: Send address changes to Banking Exchange magazine, PO Box 3135, Northbrook IL 60062-2620 2

BANKING EXCHANGE

December 2016/January 2017

Circulation Director Maureen Cooney mcooney@sbpub.com Marketing Director Erica Hayes ehayes@sbpub.com Editorial Advisory Board Jo Ann Barefoot, Jo Ann Barefoot Group, LLC Ken Burgess, FirstCapital Bank of Texas, N.A. Steve Ellis, Wells Fargo & Co Mark Erhardt, Fifth Third Bank Joshua Guttau, TS Bank Jane Haskin, First Bethany Bank Brian Higgins, First Financial Bank Trey Maust, Lewis & Clark Bank Earl McVicker, Central Bank and Trust Co. Chris Nichols, CenterState Bank of Florida, N.A. Dan O’Malley, Eastern Bank Dan Soto, Ally Bank McCall Wilson, Bank of Fayette County


December 2016 January 2017 Banking Exchange