Tag: Disintermediation
Death to the banks; central bank accounts for all
Throughout the history of modern banking, two narratives have been constant: “Banks are dead” and “Why do we need banks?” The “banks are dead” narrative is a favorite of the techno-optimist and fintech crowds. Whenever there are new technologies, regulatory changes, or market disruptions, two things happen: the likes of McKinsey and Deloitte publish “the…