Tearsheet’s top stories in 2021

Banking, Innovation

The Last Bank Branch? Not Quite, But Close

• While banks spend a significant amount of their resources on maintaining their physical footprint, the success of digital banking has put into question the efficacy of this investment by incumbents.
• Now banks need to find ways to compete in the digital realm and optimize their branch networks to function and complement an omnichannel banking world.

Artificial Intelligence, Banking, Designing new products, Innovation, Partner

The call for Gen AI and why banks are slow to answer it

• While fintechs are rolling out AI-driven tools for wealth management and tax planning, banks remain cautious, focusing on internal productivity rather than customer-facing products.
• Apart from the compliance hurdles banks may be facing when it comes to deploying Gen AI, another reason for their slow movement may be the perceptions of their core consumer segment.

Banking, Innovation, Partner, Podcasts

“The banks that are the most successful at core modernization have a north star” feat. Valley Bank and Galileo

• Faced with tech that is getting older by the minute and harder and harder to maintain, banks have some difficult choices ahead of them when it comes to core modernization. They have to find a way to run the bank and change the bank at the same time.
• In today's show, two experts on how banks can win at both running and changing the firm break down how to keep employees motivated, how to keep the scope of the modernization in check, and most importantly, how to get it all right the first time.

Banking, Innovation, Podcasts, Startup Spotlight

‘We aim to meet entrepreneurs where they are in their journeys’: J.P. Morgan’s Ashraf Hebela on how JPM is sharpening its focus on startup banking

• With the recent upswing in VC funding and the Fed's rate cuts, the startup landscape is lighting up with fresh possibilities and promising prospects for growth.
• J.P. Morgan's Head of Startup Banking discusses the bank's renewed focus on startup banking, strategies to better support underrepresented founders, and the backing that banking startups need to succeed.

Artificial Intelligence, Innovation, Partner

Generative AI in Finance: A Team Member or a Tool?

• Generative AI is transforming industries like finance by streamlining data analysis, boosting creativity, and accelerating professional learning.
• To harness AI's power effectively, financial institutions should establish clear guidelines and training to mitigate the risks of over-reliance on this technology and improve its reliability.