bank-technology

Mobile wallets will undoubtedly become more popular with time, but plastic cards won't be easily killed off. We add to payment options to increase security, options and convenience.

Correspondent banking has long relied on a costly, multistep process to settle transactions. Now banks must weigh whether to adopt cryptocurrency technology that allows for faster, cheaper settlements or risk getting pushed out of the business entirely.

Banks' business models are even more vulnerable to a massive shakeup than industry behemoths like McDonaldÂ's and Coca-Cola. The industry will be redefined by technological change and shifting consumer preferences, as well as by regulations that limit the sector's adaptability.

Bankers originally needed to shorten their hours in order to allow for the laborious paperwork involved in processing financial transactions. Now thereÂ's no such justification for closing shop.

Critics of online alternative lenders argue that their underwriting models are unproven and that a financial crisis could bring the whole industry crashing down. But while Lending Club and other startups may be relatively new to the scene, they're no greenhorns.