Banking has entered a new phase of transformation that has the potential to remake large swaths of the industry. For much of the past decade, innovation was often framed around modernization efforts such as upgrading legacy systems, improving digital channels, or experimenting with emerging technologies through pilots and limited deployments. Now, the institutions pulling ahead competitively are distinguished by their willingness to explore innovation early and their ability to operationalize it at scale and translate it into measurable business outcomes.

Across the industry, innovation is beginning to reshape the economics and competitive structure of financial services in more tangible ways. Revenue models are evolving. Operational costs are being reconfigured through the strategic integration of artificial intelligence, cloud computing and blockchain. That, in turn, is fundamentally changing how capital is allocated. Risk management is becoming more data driven, predictive and automated. Customer expectations around speed, personalization and accessibility continue to rise as the instant-everything culture takes hold. 

What makes the current cycle particularly significant is that several major technology shifts are unfolding simultaneously and beginning to intersect. AI, real-time payments, digital assets, tokenization, cloud-native infrastructure, embedded finance, and programmable financial systems are increasingly reinforcing one another and revamping how financial institutions operate, deliver services and compete.

These factors compelled American Banker to launch The Most Innovative People in Finance, a new annual ranking that recognizes the top 50 individuals who are driving these massive waves of digital transformation—producing measurable results, shoring up their competitive positions, opening new markets, and, in some cases, redefining the industry.

Leading this year’s list is #1-ranked Vantage Bank CEO Jeff Sinnott for the launch of the U.S.’s first bank-issued stablecoin; followed in the top five spots by Custodia Bank CEO Caitlin Long (#2) for the debut of a tokenized deposit network for community banks; Goldman Sachs CIO Marco Argenti (#3) for developing and deploying the firm’s widespread internal use cases for agentic AI; TD Bank SVP and Chief AI Scientist Maksims Volkovs (#4) for the development of its predictive foundation AI model; and Anchorage Digital CEO Nathan McCauley (#5) for becoming the issuer of Tether’s U.S.-regulated stablecoin USA₮.

The methodology used to select the 50 individuals is based on quantitative and qualitative factors encompassing leadership, investment in technology innovation, and number, size and impact of digital transformation initiatives over a single year (2025) and three-year time horizon, including internal cost efficiency gains and/or new revenue generation, and, where applicable, impact on the industry. American Banker also considered the role that the individual played in driving digital transformation initiatives in 2025, percentage of technology budget allocated to new innovation projects, products and initiatives, specific funding amount allocated to digital transformation initiatives annually, acquisitions and partnerships initiated to advance the bank’s innovation, impact on creating an internal culture of innovation, and number of patents held in their name.

Why does recognition of outstanding leadership in innovation matter now more than ever? 

Consider that AI sits at the center of much of the transformative change—with advanced forms of AI increasingly coordinating workflows, monitoring transactions in real time, supporting liquidity management, identifying anomalous behavior, and assisting with operational decision-making across multiple functions simultaneously. 

At the same time, the movement and representation of value itself is changing, with stablecoins, tokenized deposits, blockchain-based settlement systems, and digital-asset infrastructure evolving from experimentation into broader commercial use cases. 

As such, real-time payment networks, richer transaction data standards, embedded financial services, and intelligent payment routing are transforming payments into a central layer of customer engagement and commercial activity. 

Underpinning many of these developments is a broader modernization of banking infrastructure. Cloud-native architecture, API-driven platforms, and modular technology environments are driving adaptability, data accessibility, ecosystem connectivity, and the ability to integrate intelligence directly into operational workflows. 

This period of structural change is altering the competitive dynamics of the industry, requiring leadership that understands when to invest, where to modernize, which risks are worth taking and how to aggressively reposition their institutions for the future. 

Crypto has always traded on a different clock. Bitcoin does not close for weekends, liquidity does not pause for holidays, and leverage does not wait for clearing desks to reopen on Monday morning. For years, that difference helped separate crypto-native venues from regulated financial infrastructure.

That separation is narrowing. CME Group said its regulated cryptocurrency futures and options will be available for 24-hour, seven-day trading beginning May 29, pending regulatory review, with trading continuing on CME Globex except for a weekly maintenance window. The move is more than an operational extension. It is a sign that traditional finance is being pulled toward the market structure crypto normalized first.

The harder question is not whether institutions can trade crypto around the clock. They already can, through offshore venues, prime brokers, market makers, and liquidity providers. The harder question is whether regulated finance’s clearing, custody, surveillance, privacy, and risk systems can operate in markets where leverage, information, and volatility never really switch off.

Crypto’s 24/7 derivatives era is not simply making digital assets look more institutional. It is forcing traditional finance to become more continuous.

RALEIGH, N.C. (WTVD) — Families are navigating the already stressful college planning process, and a new set of financial grades is prompting many to look more closely at the stability of the schools they are considering.

Forbes’ annual financial report card for private, nonprofit colleges and universities is putting a spotlight on how well schools can manage their finances. The rankings are based on each institution’s ability to cover immediate expenses with cash on hand — a measure that is increasingly resonating with parents.

In the Triangle, the grades vary widely. Duke University received an A+, while Meredith College earned a B-. Shaw University was rated C-, and Saint Augustine’s University received a D.

For families, those grades are becoming an important part of the decision-making process, alongside academic and campus life.

“This college experience is much more than the books and the tuition,” Wake Forest parent Meranda Van Ningen said.

Van Ningen said a school’s financial condition is now a key factor as she — and many other parents — evaluate long-term value and security.

“We had to really lean in and ask the questions, make sure that we were getting the answers we appreciated,” she said. “They want us. They want our money to come in and to pay for that next year.”

She said the financial grades offer insight into how well schools can navigate economic challenges.

“Show that they can handle this tough, tough economy, to be honest, and that they know how to roll with it because campuses have good years and bad years as well,” Van Ningen said.

Financial planners say that shift in focus is well-founded, especially as some colleges across the country face financial strain or closure.

“A lot of smaller colleges are closing throughout the country,” said Gray Pendleton, president of Pendleton Financial. “I think it’s important to look at the financial health of the school.”

Experts say the added scrutiny reflects the high stakes of higher education, often one of the largest investments a family will make. Along with reviewing financial grades, they encourage families to thoroughly research institutions before committing.

They also stress the importance of early financial preparation to manage rising costs.

“Even like, $10 to $100 a month,” Pendleton said. “The NC 529 savings plan is great. And that’s an aggressive, age based plan. That’s a good opportunity.”

As financial grades draw more attention, families are increasingly weighing not just where students will thrive academically, but also which schools are best positioned to remain financially secure over the long term.