No one would accuse Capital One Financial Corp. of skimping on its innovation efforts and budget. Cap One was one of the first banks to start a lab, was essentially founded as a technology-first company, and continues to push the innovation envelope. So when Richard Fairbanks, the chairman, president and chief executive of Capital One, pours a bit — but only a bit — of cold water on innovation spending, it deserves notice. Yesterday, during Cap One’s earnings call, Fairbanks bluntly declared that Cap One’s digital investment was only going up, and that the return on that investment will likely not be there for “the near-term.” However, Fairbanks still argued that digital investment remains of paramount importance, not just to Cap One, but to all financial institutions.

http://bankinnovation.net/2015/01/cap-ones-warning-near-term-digital-investment-is-going-to-be-a-negative-trade/