NYU's Brad Hintz on the Future Business of Banking

The transcript discusses the ongoing shifts in global commercial banking, highlighting the move towards outsourcing and shared utilities due to necessity. It emphasizes the role of automation and technology in transforming banking operations and the inevitability of these changes. The discussion also covers the future of the banking industry, noting that while some banks face challenges, others like UBS are adapting well. The importance of capital markets and the growth of global wealth as key drivers for the industry are also mentioned.

What is one of the major changes happening in global commercial banking?

• Reduction in online banking services

• Expansion of physical bank branches

• Jobs moving to outsourcing and shared utilities

• Increased focus on local banking

Why are banks compelled to adopt new technologies?

• They have no choice but to adapt

• To increase physical branch presence

• To enhance customer service

• To reduce the number of employees

What is the future outlook for career paths in banking?

• Stable with no significant changes

• Declining due to reduced demand

• Expanding due to global wealth growth

• Limited due to automation

Which bank is mentioned as having a strong wealth management business?

• Credit Suisse

• Deutsche Bank

• UBS

• HSBC

What challenges are Credit Suisse and Deutsche Bank facing?

• Financial difficulties

• Regulatory issues

• Operational challenges

• Increased competition from local banks