I noted the disconnect between the bank community and the technology community sometime ago in my Red Pill moment, and as the year passes it becomes more and more obvious to me that we are going through a sea change in finance.
Almost every day, I encounter a new start-up who wants to change some part of the banking system.
Almost every day, I see news of a successful new business model in P2P lending, crowdfunding, front-end aggregation, PFM, mobile payments and more.
Almost every day, someone tells me how bitcoin is going to destroy the old banking system by working its way around that system.
Then I go to my banking conferences, and the people in suits – 1,000’s of Mr. Smiths here, as someone tweeted at SIBOS this year – spend all of their time talking about technicalities.