Commercial banking

Third-quarter results from PNC, Bank of America, First Horizon and others suggest that demand for commercial loans may not be as weak as bankers and investors had feared. Or maybe some banks are just getting really good at poaching rivals’ customers.

Overall net income rose 8% to $4.13 billion as cost control helped overcome shortcomings in global consumer banking profits and bond trading revenue.

Bankers need to set aside their post-crisis aversion to risk, recapture some of the magic they once practiced as innovators, fear fintechs less, and worry about the Googles and Amazons more, says Peter Memon, a bank IT veteran turned global consultant.

Designed to compete with Swift, Ripple announced several new customers Tuesday. The startup says its software allows banks and others to send cross-border payments more quickly, transparently and cheaply.

The financial crisis gave Mary Navarro an unprecedented opportunity to change banking for the better — and she delivered.