>Is this a relatively new thing? Yes. In the aftermath of the financial crisis, regulators took the opinion that the retail banking sector had become over-cons

>Is this a relatively new thing? Yes. In the aftermath of the financial crisis, regulators took the opinion that the retail banking sector had become over-consolidated, with a handful of "too big to fail" players dominating the market. Steps were taken to promote competition and diversity in retail banking, which led to a proliferation of mobile-first entrants - off the top of my head I can name Revolut, Monese, Monzo, Starling and Atom. These new banks have the benefit of a clean-slate IT infrastructure and culture, so they're genuinely modern. For example, Revolut's business bank customers can control their accounts via a fully-specified API and receive transaction notifications in Slack. https://www.revolut.com/open-api https://www.revolut.com/open-api https://www.revolut.com/connect-your-apps-to-simplify-work https://www.revolut.com/connect-your-apps-to-simplify-work