Yep. It is the way they operate since they had a monopoly for so long. Yet now a new system is springing up, one that could obliterate them.
In the end, I foresee most banks going the way of newspapers. There will be a few that survive but more will merge or go out (well banks dont go out of business but get eaten up).
Overall, their pie will get smaller.
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What happened to newspapers happened in many other spaces as well where a new system overtakes the old. Music cassette companies have failed, as have vhs video stores, people who stuck to faxing, and so on.
Most banks probably either think they are the exception or they expect to win the war, even though they are already losing a few battles.
That is true. This is not exclusive to newspapers. It is simply the path of technology and disruption.
Most end up out of business. Streaming killed the video cassette rental business.
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