The commercial banking industry in the United States has not been very progressive in the area of financial technology.
At a conference at MIT last year, which I wrote two posts on, US commercial banks were basically ignored because they just were not doing things that a “cutting edge” conference wanted to focus on.
One reason for the lag is the regulatory framework in the United States. US commercial banks have not had to be on the “cutting edge” because the regulatory framework was protecting the existing banking structure and this took the pressure off