1. Banks of the future are already here

    Drastic changes await the banking sector in the next two decades. While banks remain quite wrapped up in themselves, IT companies and startups are increasingly offering financial services. 10 percent of Starbucks revenue already comes from mobile financial services, Amazon runs its own application for receiving payments through mobile devices and Facebook allows its messenger users to transfer money directly to each other. Banks ought to embrace innovation and learn to compete in new ways – otherwise they will slowly but surely die.

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