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.
Since 2016, a group of committed multistakeholders representing public and private payers, labs, providers (pathologists and oncologists), patient organizations, industry (diagnostic and drug developers), and others have supported the design and implementation of the Diagnostic Quality Assurance Pilot. The pilot helps to ensure that molecular diagnostics provide clinicians with consistent and correct answers, regardless of which lab conducts the test and which diagnostic platform the lab uses. In May of 2019, the pilot’s steering committee, which includes representatives from Friends of Cancer Research, the College of American Pathologists, Palmetto GBA, Blue Cross Blue Shield Association, Amgen, and others, along with liaisons from FDA, CMS, and NCI, will convene in Washington, DC to discuss the pilot’s results.
Specifically, the pilot has engineered and disseminated reference samples and a bioinformatics challenges for labs to assess whether their appropriately validated tests can achieve diagnostic performance comparable to an FDA-approved companion diagnostic (CDx). For the pilot, the test case at hand is a CDx for a targeted cancer therapy. The pilot aims to understand how this approach can better standardize and compare diagnostics used to select patients for targeted therapies in cancer treatment. During the April meeting, the pilot steering committee and representatives from its scientific technical working group will address the pilot’s outcomes, implications, and follow-on communications. For more background on the pilot, please visit the pilot’s website or Tapestry’s case study on the pilot’s implementation to date.