For the last couple of years, banks have been shutting down branches at an alarming pace, while limiting the opening of new ones. Well over 2,000 large to midsized bank branches in Canada and the US have been shut down with more to come. After all, many analysts have criticized the closure of bank branches. These critics claim that banks closing have disenfranchised low-income communities and are forcing them into higher-cost banking situations. While big banks may provide physical convenience …
Tag: Banks
The current status-quo of big banks handling everyone’s money is beginning to be phased out by new and forward-thinking financial companies. Consumers are craving modern banking tools that give them control of their data, minimal fees, and also the ability to freely use new financial applications that make moving money easy. We are living in a hyper-personalized world now, and legacy banks are struggling to loosen their grip on their customer’s freedoms. If they are not careful, they are going …
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