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It's just the impression I got from your comment. I'm very interested in knowing what do you expect Apple to offer in addition to what we have in the UK.
by vilmosi 10y ago
It's just the impression I got from your comment.
I'm very interested in knowing what do you expect Apple to offer in addition to what we have in the UK.
- tomelders 10y agoI'd like to write a lot about this, but I don't have the time. So I'll rattle off some stuff without going in depth. Better software. Better integration into peoples lives. Cheaper fees. Less exploitative and predatory lending practices (as in no desire to be a lender at all so that's not an issue). Holding more deposits as capital so deposits are safer. No investment banking to put deposits at undue risk. Generally just a fresh attitude towards everything. Apple, Amazon or Google would not need to be a "bank" in the way banks operate today. I'd say that would be the biggest benefit of all. Somewhere safe to keep your money and nothing more. The speculative side of banking can be left to those people and institutions with an appetite for risk. And they can risk their own money.
- vilmosi 10y agoAh ok, I get it. When it comes to software, I don't get what complaints you might have about mobile / internet banking, as they are pretty good, in the UK at least. Maybe you are talking about the back-end of things and not consumer? The rest of the complaints I think are symptoms of the industry itself (some of which tech companies like TransferWise ARE trying to disrupt). Don't know what tech companies can do about that but one can hope :)