I found this online. Six Banking services that will disappear in the future. All highly questionable in my view. Would help if the article attached predicted expiry dates.
1. Bank branches and bank tellers
No. According to McKinsey, between 32% and 60% customers (depending on country) still prefer physical banking. That’s not to say both branches and tellers won’t become less common, but how do you expect a bank to sell high value products without face to face interaction? Visiting a bank to conduct payments, pay in or take out money is going (with exceptions) but when it comes to big financial decisions I don’t think so. There’s also no consideration of the impact of ageing populations on this.
2. Passwords and PINs
I used to think this too, but then it was pointed out to me that one major benefits of passwords and PINs is that you can change them. With biometrics, you can’t. Once someone has hacked your biometrics you are pretty much stuffed. PIN + Biometrics is the future.
3. Checks (sic) and paper statements
True at the moment, that’s certainty the trend, but trends tend to bend and I think paper statements could make a comeback. Easier to spot mistakes on paper.
By when? Could go either way in my view. Governments would love to get rid of cash, then they would have total control. Businesses would probably like to get rid of it too, because it would save them money, but I think quite a few people still like the anonymity of cash.
Spending habits are quite different with digital vs physical money too.
5. ATMs and debit cards
Maybe, eventually. Unproven.
6. Traditional loans
Doubt it. Even in a buoyant economy a lot pf people still prefer the accountability associated with traditional lenders. But in a downturn, I can’t see people borrowing large amounts of money and especially not lending money to people they’ve never met.