Krawcheck: Banks Face Harsh Reality on Fintech, Growth

The transcript discusses the challenges European banks face in competing with US firms, focusing on cost-cutting and M&A activity. It highlights the slow pace of innovation in banking, particularly in fintech, and the difficulties of updating outdated systems. The conversation also touches on the potential for tech-driven changes in banking operations. Finally, it shifts to a lighter topic, discussing the sports rivalry between Duke and UNC.

How have job cuts in major banks like Deutsche Bank and Credit Suisse impacted the banking sector?

What are the main challenges European banks face in competing with US firms?

What role does fintech play in the future of European banks according to the discussion?

Discuss the significance of technological progress in the banking industry as mentioned in the text.

What are the implications of banks having outdated proprietary systems?

What does the term 'radical rethinking of the banking business' refer to in the context of the discussion?

How do the speakers perceive the relationship between client interactions and technology in banking?