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System-wide Innovation is a lot easier when one’s country has a handful of banks. USA has ~4500 banks, 12x the #2 country, Russia. https://www.helgilibrary.com

System-wide Innovation is a lot easier when one’s country has a handful of banks. USA has ~4500 banks, 12x the #2 country, Russia. https://www.helgilibrary.com/charts/what-country-has-the-most-banks/ https://www.helgilibrary.com/charts/what-country-has-the-mos...

gdy 4y ago
In Russia money transfers are mostly instant. What stops american banks from using new software and new payment protocols?
- astrange 4y ago
  There are instant transfers (Zelle, wire transfers, debit cards). There aren't instant transfers with all the same properties as ACH, but later this year there will be.
  - gdy 4y ago
    Interesting. What makes ACH special?