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Fed criticizes slow progress in U.S. banking technology, Caitlin Long argues

Fed criticizes slow progress in U.S. banking technology, Caitlin Long argues
Fed criticizes U.S. banking technology lag

Caitlin Long, founder and CEO of Avanti Bank & Trust at Custodia Bank, draws attention to a statement from the Federal Reserve that sharply criticizes the largest U.S. banking core providers, FIS, Fiserv, and Jack Henry. The tweet suggests that these core providers are a major reason why technology in the U.S. banking sector trails behind fintech, securities, and international peers.

Long has frequently commented on U.S. regulatory actions toward the banking sector. She previously criticized the Biden administration’s handling of Silvergate Bank, describing government interventions as problematic in a past statement. Long has also addressed tensions between the Treasury and Federal Reserve, noting their implications reach beyond monetary policy in an earlier analysis.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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