{ "media_type": "text", "post_content": "Is banking industry dying and taken over by tech?", "post_id": "617d5edcd46e670026223b05", "reply_count": 20, "vote_count": 4, "bowl_id": "5c04d0b643b531001738b601", "bowl_name": "Investment Banking - IBD", "feed_type": "bowl" }

Is banking industry dying and taken over by tech?

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All I know is apparently 10 years ago our fees used to be $10 a bond. Now they’re more like $1.50 a bond.

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Yes - definitely traditional banking like savings / checking accounts and mortgages / loans

funny

Then yes to S&T to a degree. Definite no to IBD.

Seems they were late to the meeting innovation train. They are getting onboard now…late, but probably not too late for a lot of them.

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Feel like no one can rly take over investment banking since it’s heavily regulated

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More like suffering due to lack of resource and snail's pace turning into tech

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Yes

Depends on the context. Traditional consumer banking, yes. Overtaken by small fintech banks with no fees and many other perks to serve as a one-stop shop. Even some small business banking is starting to transition. IB, AM, and S&T? Not as much. IB and S&T are definitely too transactional and need the human component, although tech can enhance the work (mainly S&T). AM may run more in automation but a lot of these robo advisors are still investing in qualitative-driven funds. WM is getting hit, but on the low net worth clients that just put money in the robo advisors. HNW and UHNW still want and need the human component that automation can’t provide.

OP — yes, agree with VP1. They’ll still be kicking it. The big money centers are too essential for the economy. I wouldn’t expect to see a machine that facilitates M&A with just a couple inputs or that calculates the potential synergies, etc. Possible? Yeah. But how reliable? Not saying the bankers are super reliable either (they’re trying to close business, not help clients) but they provide more sense of security than a machine.

Yes but it'll be a slow decline. Your career is prob fine but I'm advising my future children to do tech

The soft skills/relationships in banking is purely a business development tactic for future deal flow in their pipeline (or connections for new jobs).

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