So what other industries are ripe for a digital shake-up? Banking, money and finance, the very arterial plumbing of the commercial world. That these enterprises have been largely immune to the transformational power of technology is down to oppressive levels of regulation. And little good has this great panoply of safeguards done either, to judge by the banking crisis and accompanying scandals. What it has done, however, is protect the industry from any meaningful, disruptive competition. Public disgust with established players should make banking an open goal. “It’s not worth the candle,” one digital grandee told me. “The regulatory barriers, as well as the reputational and financial risks, are just too high.” Yet it will come. A simple transactional, online bank, where all deposits are placed as reserves with the central bank, making them completely safe, free of costly capital requirements, and immune to loss and panic, cries out to be invented. The big banks think they’ve already had it rough enough. In truth, their problems are only just beginning.

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10895145/Banks-are-crying-out-for-the-Uber-treatment.html