The Future of a Bank

Every spend management platform is trying to add treasury management. And they're all trying to add treasuries for some kind of yield. So everything starts to look the same as homogenizing. What happens when interest rates do start to come down? We're already seeing the mood music start to turn from some commentators that maybe the Fed tightened too far and maybe rates are going to come down. If that happens, what happens to these businesses? What happens to the race for ever more FDIC insurance? Do these guys have any structural advantages? Is the future of a bank, not a bank, but actually treasuries and US government debt? And what does that mean?

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