The future of banking
Much has been done to define new regulations for the banking sector since the financial crisis. The prudential rules of Basel 3 with the so-called ‘final reform’ of December 2017 (commonly referred to as Basel 3.5 or Basel 4), for example, are as good as ready. So what can banks expect during the coming years?
Recently, several European banking supervisors issued publications on financial technology (fintech) companies and big data.
Technology has changed the way we interact with companies. Over the past decade, many industries have been disrupted by the likes of Uber, Facebook and Airbnb.1 The business model of banks, however, seems to have remained unaltered. The question is: will it stay that way?