Pandit on increased transparency.... Underlying the increase of transparency...was the open architecture model...contrasted to traditional banks which prefer a closed architecture model which provides them an easier environment to sell customers a wider selection of products. ...as regulators become more comfortable with new technology, their stance will change to that of it being easier to regulate the marketplace and not individual firms. Glocer on the blockchain... Glocer explained that there is a philosophical debate whether banks should create private blockchains or have one’s based on bitcoin. Either way, he added that the sum result of the blockchain to banks won’t be disruption to harm their revenues. In replace, he expected that the advent of distributed ledgers that will be accepted across all banks will improve their cross firm reconciliation process and effectively decrease their expenses.

http://www.financemagnates.com/fintech/news/bank-innovation-israel-2015-fintech-investors-talk/