Someone was attacking the premise of digital bank change the other day, by claiming it only refers to consumer banking. Nothing is changing in corporate or investment banking, they claimed.
All areas of financial processes, products and services are being attacked by some new start-up company somewhere. I realise this every day when I see so many bright young things creating a new model using direct connectivity over the net, and thus displacing the trusted intermediaries through technology.
Disintermediation is finally happening; it’s only taken twenty years to get there.