Finance / Leadership / CEO Daily

Finance Is on the Cusp of Huge Change: CEO Daily

Posted On: Jun 20, 2019   |   Posted By: Fortune

Good morning.
It was a rainy day in Montauk yesterday, but that turned out to be a good thing. The conversation inside the Fortune Brainstorm Finance tent deserved no distractions.
What made the event uniquely interesting was the mixing of would-be disrupters with the would-be disrupted. The former said this week's Facebook news proved finance is on the cusp of huge change:
"This is a massive inflection point," said Circle CEO Jeremy Allaire. Google , Amazon , Apple "are all going to have to respond in some way. And so are the banks."
"The CEOs of the banks... need to realize the intellectual capital being poured into this is the best of the best," agreed Digital Currency Group CEO Barry Silbert. "It is going to change banking as we know it".
Not surprisingly, the legacy bankers were somewhat more cautious about the speed of disruption. On the death of bricks and mortar banks, Bank of America CEO Brian Moynihan noted:
"Between now and 24 hours from now, 800,000 people will walk into one of our branches"
And...

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