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All good insights and true to my experience but there is nothing new or different here. Banks have been looking for technology "partners" (not vendors) for years - maybe 10. The days of just dropping a piece of hardware or software off at the bank and walking away are long gone. Now, most vendors (and banks) have been really bad at making the partnerships work long term and the financial incentives haven't always been aligned correctly to make it work. There's definitely work to be done. Let's see if this next generation of vendors can get it right...

This is certainly a fact and we know that banks are not good at innovating as a group (though I'm not sure we can blame it all on funding constraints). If the goal is to innovate, however, i think we will see a slow down in progress if the OCC clamps down too much, which fair or not, is really important to the overall success of the industry. We will also be disadvantaged versus other financial centers where the government is encouraging innovation, such as the UK. Some oversight is probably a good idea but would love to see the regulators funding and supporting (and getting some control that way) rather than just creating bureaucracy and 'oversight'...