Do we really need banks like we know them now..? Do we really? I have not stepped into a bank since 1932. All bank stuff I do is electronic (bill pay, transfer money, ATM, etc) I am sure I am not alone.. And there are 3984320483208 banks…
I truly think that banks in the future will not be the default vechile to which to move funds, maintain our balance & portfolios…. they will just be one of many companies that are able to offer these services.
In the future the banks and organizations like Swift or NACHA and other payment networks become network providers that allow you to send money from A to B and will charge you for the network traffic that you generate. This brings similarities with industries like telecom, energy suppliers and cable companies. The financial word is definitely going through an important transformation….
