I keep wondering at night, 'Will I have a bank the next morning, or will some technology company be doing banking without needing a bank?'
Sentiment: NEGATIVE
I saw a bank that said '24 Hour Banking', but I don't have that much time.
I happen to know a bit about banking.
A bank is a place that will lend you money if you can prove that you don't need it.
Banking is a very treacherous business because you don't realize it is risky until it is too late. It is like calm waters that deliver huge storms.
The threshold question: Will banks continue to exist? The answer is yes, because society will still need the two essential functions they provide: mobilization of capital from providers to users, and facilitation of payments for goods and services.
You shouldn't be trying to create a system where no bank fails, but you should be creating one that catches a bank and allows it to fail without impacting the financial markets.
Banking gives you a glimpse into what makes companies succeed and what makes companies fail.
Banks are there to support businesses that have justifiable needs.
I don't do online banking.
As long as there is cash, and the economy is running, all is well. But as a bank, we'll have to test, experiment, try a hundred different things. A few may work, a few may fail, but we have to experiment and try.
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