The Impact of Mobile Banking on Banking

Banking hasn't changed much in hundreds of years, so when you have a shift of this magnitude then it's pretty significant. I would like the disruption we're dealing with to be similar to what the books and music industry has faced. It will be the first time in banking that we've not needed a physical artifact, a bank artifact that is there to do our banking. You know everyone's got a smartphone these days so it makes a logical tool to use for day to day payments in banking. But the bank account itself we are looking at the evolution of the bank account from past book to checkbook, from checkbook to debit card, from debit card to smartphone.