How? Any disruptive service would have to interface with the legacy, non-disrputive players. Visa + Mastercard have a monopoly on credit transactions. First Data + company have a monopoly on debit transactions. The banking of America is still backed by COBOL + mainframes and it hasn't changed yet for a culmination of a bunch of reasons. I just don't know when it ever will...
Ripe because the current system is inefficient and stacked toward the power players. Robinhood has a lot of users because retail investors are desperate to invest money for a profit. The banks underwriting the deals scoop up all the best opportunities before it ever filters down to normal people. With the oppressive regulations on new banks that won’t change any time soon.
How? Any disruptive service would have to interface with the legacy, non-disrputive players. Visa + Mastercard have a monopoly on credit transactions. First Data + company have a monopoly on debit transactions. The banking of America is still backed by COBOL + mainframes and it hasn't changed yet for a culmination of a bunch of reasons. I just don't know when it ever will...