The Crash of the Bank Titans
New technologies and financial innovations now allow you to become the banker. It’s all explained in my new video, “The Crash of the Bank Titans.” I hope you enjoy it!
Click The Video Image Below to Watch Now.
Traditional Banks Are Becoming Obsolete.
Traditional Banks have become too big, too greedy and too impersonal. There is a storm brewing that may find big banks running for cover.
In this age of Amazon, Uber and Airbnb, consumers have been climatized to expect an ultra-high level of customer experience and service.
Big banks are not keeping pace with consumer demands in the financial services arena and Banking 2.0 is taking retail banking by storm.
Mega banks are still tied to old school revenue streams like;
- monthly service charges
- wire transfer fees,
- international debit card use fees,
- low balance and late payments fees
- bounced checks charges,
- currency exchange rates,
- credit card interest
- and ATM fees
Hard-working individuals trying to live their American Dream are growing more and more frustrated, with banks that appropriate our dreams and aspirations fee by fee and charge by charge. That frustration is growing but help is on the way. And it’s happening right under our very noses.
The FinTech Revolution is Upon Us.
It’s called FinTech which stands for Financial Technology.
New technologies and innovations in automated banking are quickly becoming available through online and digital only banking startups.
Just as the iPhone and smart phone technology caused the demise of products like phonebooks, film cameras, folded maps, answering machines, pagers, alarm clocks, day planners, flashlights, and more, FinTech has the capability of revolutionizing the way banks operate.
FinTech is decentralizing banking and placing the equivalent of a bank branch right in the pocket of anyone with a smart phone and could completely cut out banks as the middle man. This lets technology fill the gap.
Physical Banks, Like Phone Booths, Will Soon Become Obsolete.
No longer do you need bank personnel, branch offices, tellers, loan officers or bank managers.
Rather, technology performs those tasks more quickly and accurately, at a cheaper cost all while offering better and more personalized banking services to the consumer.
But that’s not the best part.
I’ve prepared a video that explains the real threat to big banks. What is that threat?