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Banking is necessary, Banks are not ! A truth expressed 3 decades ago

Banking is necessary, Banks are not ! A truth expressed 3 decades ago

In 1990’s, Bill Gates said: “banking is necessary, banks are not”.  Back then [25 years ago], imagining banking systems without bank was no less than a wild dream; but visionary like Mr Gates anticipated it very well in advance. From 2010, with all the Fintech & startups coming up with innovative & customer-centric banking ways and regulators opening up bank data though directive & regulation; lots of banking activities started moving away from the bank. Payment & retail transactions moved…

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