Re:Facebook Messenger Platform
by rybosome on Tuesday April 12, 2016 @09:48PM
(#11485119)
> Our banking system is in the 1990s because PayPal, Square and now Facebook will lobby to keep their business models.
I find it thoroughly unbelievable that banks are trying to offer advanced, consumer-friendly features, only to be thwarted by the lobbying efforts of the technology industry. Don't get me wrong: technology companies are not morally superior and above political manipulation, but they would most certainly lose going head-to-head with the banking industry.
The banking system is stuck in the 1990s because banks have insufficient incentive to change, and there is a non-trivial segment of the population lacking knowledge of, access to, or trust in technology when it comes to financial matters.
I find it thoroughly unbelievable that banks are trying to offer advanced, consumer-friendly features, only to be thwarted by the lobbying efforts of the technology industry. Don't get me wrong: technology companies are not morally superior and above political manipulation, but they would most certainly lose going head-to-head with the banking industry.
The banking system is stuck in the 1990s because banks have insufficient incentive to change, and there is a non-trivial segment of the population lacking knowledge of, access to, or trust in technology when it comes to financial matters.