From Free Toasters to Chatbots, a Banking History

by Joseph Walent 0

The integration of technological advancements into delivering banking service has indeed the most significant driver of change in HOW we bank through the ages of recorded history, as the article ably illustrates. Simply put:

And yet a brief look at the history of banking highlights how the industry’s foundation hasn’t really changed: People want to keep their money somewhere safe and accessible. The ways in which people interact with their banks and deposits, however, have changed radically.

Mercator Advisory Group recognizes the “how” of banking, while never separated from the need to hedge against a both an anticipated and uncertain future, has conformed to the particular needs that society and it members demand. We would not be leveraging much of our market analytical power to conclude that our present economy places a high level of value on unassailable truth. The ongoing high level of interest in the promise offered by blockchain technology based solutions and the immutable record of transactions the system purports to generate underlines the need we feel to have a source of absolute record that begs no interpretation in our current day and age.

Overview by Joseph Walent, Associate Director, Customer Interactions Advisory Service at Mercator Advisory Group

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