Well, sure. You've got to record transactions in ledgers, and those have been stored on computers since the 60s/70s. But on the payments side of the house, the

Well, sure. You've got to record transactions in ledgers, and those have been stored on computers since the 60s/70s. But on the payments side of the house, there's no technical reason any inter-bank account-to-account push-pay transaction couldn't be done in under 5 seconds for under ten cents. But, no! We've got NACHA (but, now, FAST!) (and the Fed with their 2am window) and and and... And, let's face it: why would a main-street bank want to lose out on the MT fees when interest rates are, well, essentially ... nothing. I agree that the banks have some best-in-class reliability and cohort analytics technology (some of them anyway). The core is kind of antiquated, but why muck around with "it's already reliable"? The "core" is slow and inflexible. The cost structure is crippling. The regulatory environment imprisoning. Legacy interop. Risk. The interbank-frameworks. Yes - all digital. And much of it very good work. Yet, (like in medical, but for different reasons), just because all the bank employees can download apps from the iTunes store, does not mean that the core is ... agile.