On April 8, 2019, Tapestry and LendIt Fintech hosted the first Banking and Fintech Leadership Forum in San Francisco, bringing together fintech CEOs, bank executives and directors, regulators, and others for a discussion on how the financial services ecosystem is evolving and how banks and fintechs can effectively partner. Fintech challengers have emerged in virtually all aspects of banking, with particular growth in lending. As these fintech companies look for growth and diversification, large incumbents are identifying ways to become more nimble, update their systems, and experiment with new approaches. As customer expectations continue to evolve, big tech platform companies move further into financial services, and new business models emerge, both fintech and banking leaders see increasing opportunities for collaboration. Opportunities for additional partnerships are not without their challenges, however. Banks and smaller fintechs operate differently, with diverse cultures and models. In some businesses they remain fierce competitors. Participants discussed how both banks and fintechs can “do their homework,” to ensure these collaborations are more than just “paper partnerships,” and effective for both parties and their customers. Read more here.
In May 2019, Tapestry and members and liaisons of the multistakeholder Steering Committee (SC), which oversees the progress of the diagnostic quality assurance pilot, met to discuss the pilot’s results. Since its launch in 2016, the pilot has aimed to create a process to compare the performance of molecular diagnostic tests that are used for selection of targeted therapies, using a test case of a next generation sequencing (NGS) diagnostic for a specific targeted cancer treatment. Earlier this year, 18 volunteer laboratories returned data to the pilot’s technical implementation team at the College of American Pathologists, marking an end to the pilot testing phase. The data compared performance of laboratories’ validated tests with specifications set by an FDA-approved companion diagnostic (CDx). During the May meeting, the CAP’s Scientific Technical Working Group (STWG) leadership presented a summary of the dataset and lessons learned from implementing the pilot. Collectively, the STWG representatives and SC discussed the results’ technical implications, and their meaning for various stakeholders and SC members’ organizations. Moving forward, SC members are committed to sharing outcomes later in 2019 through a peer-reviewed technical publication, a white paper, and, potentially, through other mediums. Read more here