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The darker side of P2P

By Matt

Thanks to peer-to-peer payment, fondly abbreviated to P2P, it’s now possible to split tabs at restaurants and reimburse friends for odd expenses without having to handle currency. And, much to my kids’ joy, extended family members can send birthday cash faster than ever, without resorting to checks and envelopes. But lunch buddies, friends, and grateful [...]

Are branches making a comeback?

By Matt

In recent years there has been a glut of headlines the likes of Wells Fargo to close 900 branches, Banks Will Be Obsolete Within 10 Years, and 6 Banking Services That Will Be Obsolete in 10 Years, on which the first item was “Bank Branches and Bank Tellers.” Indeed, a scant two years ago, none other than Yours [...]

The unbanked,
the pre-banked,
and the underserved

By Matt

It’s no wonder that to many consumers a bank is a bank is a bank. A regulated banking environment all but disallows substantial differentiation. Setting apart a financial institution in consumer minds is no easy thing.  For a while, rewards programs presented as a would-be panacea, but these days such seem largely to have morphed [...]

Will A.I. kill bank
industry jobs?

By Matt

Crowing about the need to bring jobs back from across the ocean makes for powerful rhetoric, but technological advances account for the lion’s share of lost jobs in the U.S. Financial Times pointed out: The US did indeed lose about 5.6m manufacturing jobs between 2000 and 2010. But according to a study by the Center for Business [...]

Creatively repurposed bank buildings

By Matt

Last week nostalgia swept over me as I stepped inside an architectural masterpiece. An elegant survivor from banking’s bygone era of marble and polished brass, the entire building suggested strength, security, and longevity, all needful symbols for the early 20th century when people weren’t too sure about their banks. I pulled open the massive double doors suspended [...]