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Kahuna to me big banks are like Kodak was just before digital cameras came out or Nokia before the iphone, incompetent, bloated and too slow, fat and lazy to adjust to the times. Banks legacy back end systems are atrocious and will probably need tens of billions worth of investment to come into the modern era. This is to say nothing of the atrocious customer service of banks.

For example it often takes 1 month plus to get a mortgage finalized. In the digital age I just cannot see that being sustainable for very long and they simply won't invest enough too keep up consider their very high dividend payout ratios.... Everybody dreads dealing with banks, I know I certainly do. Everything is slow, cumbersome, antiquated and you get buried in paperwork. How long can this situation last? Banks take their customers and their market share for granted. I do not think they will adapt.

People certainly need banking and financial services but they do not need to get it from banks!