When customers regulate banks

In many industries, digitalisation has shifted power to customers in the last ten years. The banking industry, however, has remained resilient against radical changes for a long time. In fact, things like digital transparency and the power of small private customers do not fit into the traditional self-image of banks. Customers don’t trust so-called “innovations” provided by an industry that has brought them little benefit, but has plunged them into a major financial crisis instead. As a result, urban trendsetters, and other customer categories previously shunned by banks, have moved closer to “non-banks”, where appearance and customer focus are more up to date and authentic. Read more: crowdfundinsider.com