"I spent over 10 years working for a bank and I loved it. I think their days are numbered though, probably; mainly as I believe the services and products they provide will be gradually replaced by large tech companies who have better relationships with consumers.
It’s a much-written-about fact that companies don’t want to become the next Blockbuster or HMV -- video and music stores replaced or heavily impacted by digital competitors like Netflix, iTunes and internet file-sharing. Most banks are embracing “digital” — with cutting-edge apps, new payments methods, trying new technologies like blockchain or wearables and getting funky with cool new social media campaigns — all in an effort to stay current; but I still think they will be replaced.
Why? Because they are mainly just banks — they provide credit or debit and digital services to access that money and not much else.
Tech companies like Amazon and Google offer a whole range of products and services, building deep positive relationships with consumers that allow the introduction of further products and services."
https://fee.org/articles/the-future-of-banking-probably-isnt-banking/
It’s a much-written-about fact that companies don’t want to become the next Blockbuster or HMV -- video and music stores replaced or heavily impacted by digital competitors like Netflix, iTunes and internet file-sharing. Most banks are embracing “digital” — with cutting-edge apps, new payments methods, trying new technologies like blockchain or wearables and getting funky with cool new social media campaigns — all in an effort to stay current; but I still think they will be replaced.
Why? Because they are mainly just banks — they provide credit or debit and digital services to access that money and not much else.
Tech companies like Amazon and Google offer a whole range of products and services, building deep positive relationships with consumers that allow the introduction of further products and services."
https://fee.org/articles/the-future-of-banking-probably-isnt-banking/