The Truth About Data: Lessons From Consumer Banking

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What healthcare can learn from digital and mobile banking, instant loans and lines of credit, and micro payments.

Aneesh Chopra  and  Tim Spence

In this discussion, Aneesh Chopra, President, CareJourney, who served in the Obama Administration as the first US Chief Technology Officer, chatted with Tim Spence, President (and incoming CEO) of Fifth Third Bancorp, about why healthcare is an information business. Together, they drew lessons from the financial services industry about things like consumer trust, data transactions, and privacy regulations that are also applicable to the healthcare industry. They also broke down three chapters of the FinTech revolution (a term Tim noted is really just an artifact of the past six or seven years in the financial services sector). Tim said reducing complexity so consumers can more easily make choices has a powerful and profound direct benefit, both on all our businesses and across greater society.