The Kentucky Bankers Association/EKU Banking Innovation Conference
Eastern Kentucky University was honored to host the Kentucky Bankers Association/EKU Banking Innovation Conference on October 14, 2021. The conference was held on-campus at the EKU Center for the Arts.
The conference included multiple national-level speakers. Among them, Julie Stackhouse, retired Executive Vice President of the Federal Reserve Bank of St. Louis. Stackhouse reflected on demographic and economic factors creating headwinds for the banking environment. Also, she addressed the promises and pitfalls of financial technology on the future of banking.
Charles Potts, ICBA Senior Vice President and Chief Innovation Officer, talked about how throughout the pandemic, community banks partnered with FinTechs to address the needs of their customers. As community banks plan for what comes next, they need to learn how the Banking-as-a-Service (BaaS) concept can help community banks parlay those FinTech partnerships and deepen small business relationships to tap the burgeoning BaaS ecosystem - valued at $356.26 billion in 2020 -- for a more convenient and seamless customer experience at the point of need.
Additionally, Dr. Laura Barthel, Assistant Professor of Accounting, and Maggie Abney, Executive-in-Residence for Banking, Eastern Kentucky University College of Business presented the results of their Kentucky Bank Technology Survey.
A Bank Panel on banks that have successfully implemented FinTech consisted of the Chief Operating Officer, Traditional Bank; Chief Executive Officer, Evolve Bank and Trust; Innovation Policy Officer, Board of Governors of the Federal Reserve System; Chief Innovation Officer, Officer of the Comptroller of the Currency; Chief Innovation Officer, FDIC; and State Banking Commissioner, Wyoming Division of Banking Regulatory Panel on Innovation.
The conference closed with a Welcome to Kentucky by Representative Andy Barr, U.S. House of Representatives, House Financial Services Subcommittee.
The Kentucky Department of Financial Institutions, Commissioner Charles Vice, noted "The KBA/EKU Banking Innovation Conference was a significant event for our State. The banking industry is vital to the economic health of every community in Kentucky. Technological changes impact every aspect of our lives, and changes in the banking industry are occurring at a very rapid pace. The Innovation Conference brought together the banking industry, regulators, and service providers to discuss important issues that will improve how banks operate and how they provide important financial services to their customers."
Published on November 10, 2021