At the conference in Phoenix, I often felt like I was at a high-tech conference, more so than a banking conference.
The hallways were full of talk about artificial intelligence, data collection, core processing, real-time payments, and other tech topics.
Most of the vendors in the exhibit halls were tech companies touting products that can help banks be bigger, faster, and better than their competitors.
At the first-night cocktail party, I was at a table and realized that of the dozen or so of us chatting over cocktails there wasn’t a single banker in the group.
With the exception of myself, everyone was from a technology company.
There is another aspect to the technology discussion that I heard going around me.
These folks are afraid of big tech. Companies like Amazon.com Inc. (NasdaqGS:AMZN), Facebook Inc. (NasdaqGS:FB), Alphabet Inc. (NasdaqGS:GOOGL) and Apple Inc. (NasdaqGS:AAPL) already have the customer data on pretty much everyone in the country, and they are eying the trillions of dollars of assets in the banking system much like a hungry puppy would eye a juicy cheeseburger.
The battle between the old guard and the expanding tech juggernauts over where you put your money is just getting started.