Recorded at the Newcomer Banking Summit on March 14, 2024 in San Francisco. Read about the event here: https://www.newcomer.co/p/newcomer-ba...

Thanks to our sponsors, Jiko (https://www.jiko.com) and BCV (https://baincapitalventures.com)

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Matt Harris of Bain Capital Ventures had one of the spicier takes of the day, pointing to ongoing systemic weakness in regional banks—mainly due to commercial real estate lending. “Smaller banks are more exposed to commercial property,” Harris said.

He suggested that banks need to move away from the idea of regional market shares altogether, and instead focus on subject matter expertise to remain competitive, especially in the age of mass adoption of generative AI.