The Capital One CEO is among the industry's most forward-thinking executives on the topic. Here are some of his views "Banking is an inherently digital product," Fairbank said. "Money is digital. Banking is both about money and also about contracts about how money will be moved and managed. There is not a lot of physical inventory. This business is just crying out to be revolutionized and the world won't wait." But Fairbank said the banking industry "has had a stunted and slowed evolution relative to the inherent nature of just how digital this product is" due to regulation, massive capital requirements, risk management issues, and other funding constraints. He also said most banks are too focused on technology's impact on physical branches or building the coolest app to satisfy customers.

http://www.bizjournals.com/washington/blog/2014/12/capital-ones-richard-fairbank-says-world-won-t.html?ana=twt