Bank Nerd Corner

Bank Nerd Corner welcomes Todd Phillips, an assistant professor at the Georgia State University’s Robinson College of Business, to discuss a not-so-theoretical thought experiment about the intersection of artificial intelligence, deposit stability and bank liquidity, 

Todd’s paper, “When Siri Becomes Deposit Broker,” explores the implications for banks if consumers and businesses widely adopt agentic artificial intelligence capabilities that could automatically and autonomously move customer funds out of banks, either for rate seeking or stability reasons. 

This imagined application would continue the long tradition of “deposit brokers” in the industry, a historic deposit designation that indicated the deposits were “hot” and not fully relationships. This time, they — and their regulators — may not realize their customer deposits are “hot” before it’s too late. We talk about the technology that makes this possible, why the definition of deposit broker matters, what are regulators’ limitations and how banks should respond. 

Taktile⁠ is an AI Decision Platform that helps financial institutions automate and improve their risk management strategies across the entire customer lifecycle. From onboarding and credit underwriting to fraud detection and transaction monitoring, Taktile empowers risk teams to build, test, and optimize their critical decision processes, without relying on engineers. Taktile has been recognized as category leader — for four quarters in a row — in G2’s Quarterly Report for Decision Management Platforms, and is trusted by leading fintechs, banks, and insurers across the globe. The company is headquartered in New York City and has offices in Berlin and London. For more information, visit⁠ taktile.com⁠ or ⁠follow Taktile on LinkedIn⁠.

Read “When Siri Becomes a Deposit Broker” here: https://southstatecorrespondent.com/category/banker-to-banker/

Fintech Takes Banking is the weekly newsletter for bank execs who get it. Subscribe for the latest in regulation, tech, financials, operations and, yes, accounting, straight to your inbox: https://fintechtakes.com/banking/newsletter-subscription/

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LinkedIn: https://www.linkedin.com/in/khaslett/

Twitter: https://twitter.com/khaslett

Bank Nerd Corner welcomes Chris Nichols, the director of capital markets at SouthState Bank Corp., for the inaugural episode of Banker’s Hours. 

Banker’s Hours explores the personalities in banking for some real talk on important, interesting and fun topics. 

Chris is a writer in addition to being a banker. He shares why he gives so many secrets away in his popular financial blog “Banker to Banker” and how he identifies operational, performance or technology topics to write about. We discuss tech hot topics like cryptocurrency, stablecoins and artificial intelligence, but also old standbys like deposits and profitability. Chris shares his thoughts on his favorite nonbank topics and a small banking hill he’ll die on. 

Taktile is an AI Decision Platform that helps financial institutions automate and improve their risk management strategies across the entire customer lifecycle. From onboarding and credit underwriting to fraud detection and transaction monitoring, Taktile empowers risk teams to build, test, and optimize their critical decision processes, without relying on engineers. Taktile has been recognized as category leader — for four quarters in a row — in G2’s Quarterly Report for Decision Management Platforms, and is trusted by leading fintechs, banks, and insurers across the globe. The company is headquartered in New York City and has offices in Berlin and London. For more information, visit taktile.com or follow Taktile on LinkedIn.

Follow Chris on LinkedIn: https://www.linkedin.com/in/cknichols/

Read Banker to Banker here: https://southstatecorrespondent.com/category/banker-to-banker/

Fintech Takes Banking is the weekly newsletter for bank execs who get it. Subscribe for the latest in regulation, tech, financials, operations and, yes, accounting, straight to your inbox: https://fintechtakes.com/banking/newsletter-subscription/

Follow Kiah:

LinkedIn: https://www.linkedin.com/in/khaslett/

Twitter: https://twitter.com/khaslett

Bank Nerd Corner is back with Kiah Haslett returning … not just as co-host, but as an official member of Fintech Takes! 

That’s right, big news: Bank Nerd Corner will soon be its own podcast feed, with Kiah hosting (and Alex dropping in monthly as a guest). 

Kiah’s podcast launches this September alongside her new weekly newsletter, Fintech Takes Banking! If you’re listening to this episode, you basically asked for it (sign up at fintechtakes.com/banking/newsletter-subscription).

Now, onto Bank Nerding! 

First up,  the topic that's going to end up on my tombstone when I die: open banking. 

We dig into the CFPB’s sudden flip on open banking. JPMorgan Chase tried charging for data access, the Bureau hit pause on litigation, and now an accelerated rulemaking process is underway. Will banks get the green light to price data, or did Chase just overplay its hand? Is this the beginning of monopoly pricing in disguise?

Next, Kiah schools Alex (and the rest of us) on why crypto firms are suddenly obsessed with national trust charters (what they are, why they matter, and how they could function as narrow banks in disguise). Stablecoin reserves, custody rules, and OCC oversight are all on the table.

And finally, the Palmer Luckey-backed digital bank Erebor enters the chat, promising to be the new Silicon Valley Bank for startups, crypto, and defense companies. Their pitch: political connections will fast-track their national bank charter with the OCC. But can political connections really expedite a de novo charter without wrecking regulators’ credibility?

Sign up for Alex’s Fintech Takes newsletter for the latest insightful analysis on fintech trends, along with a heaping pile of pop culture references and copious footnotes. Every Monday and Thursday: https://workweek.com/brand/fintech-takes/

Follow Kiah:

LinkedIn: https://www.linkedin.com/in/khaslett/

Twitter: https://twitter.com/khaslett

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YouTube: https://www.youtube.com/channel/UCJgfH47QEwbQmkQlz1V9rQA/videos

LinkedIn: https://www.linkedin.com/in/alexhjohnson

Twitter: https://www.twitter.com/AlexH_Johnson