Go-Grey Bank Disintermediation

Most of us use banks for two key purposes payments and security, if these functions are provided by someone else what role do banks play?

Most of us use banks for two key purposes payments and security, if both of these functions are provided by someone else what role is there for banks?

I expect the September 9th scheduled announcements from Apple will not only add fuel to the fire of biometric availability but will also herald in partnership with Visa, Mastercard and American Express the death knell for bank based merchant acquisition.

For senior citizens the nirvana of no passwords or PIN is truly welcome, the possibility of wearing an iWatch capable of paying for goods securely is going to be very attractive!

Can banks compete? Barclays seem to think they can, last years introduction of voice based security by Barclays Wealth (see Go-Grey Id August 4th) plus yesterdays announcement of finger vein authentication clearly shows determination.

Is it however, too little or too late for the others?