6 For example, in everyday application, monitoring of physical conditions through censor-based wearable devices, and in a more rarefied setting, gene therapy taking account of individuals' DNA readings. 7 Examples of transaction banking are cash management, trade finance, and supply-chain finance. 8 IIF (2016), "RegTech in Financial Services: Technology Solutions for Compliance and Reporting."
7  Circumspection and Innovation at Financial Institutions Although there are opportunities, some leading thinkers argue that banks should distance themselves from innovation and return to a simpler business structure focusing on deposit taking and lending. Such a view is one reflection of the situation that existed before the Global Financial Crisis, at which time banks were jokingly described as "too complex to succeed."