Personal banking is local but banking fundamentals and software to run them are truly global except for the language. With more and more people going to automatic deposit and online billpay, even the ‘local’ banking will continue to drop off.
‘Personal banking is local but banking fundamentals and software to run them are truly global except for the language. With more and more people going to automatic deposit and online billpay, even the ‘local’ banking will continue to drop off.”
The bankers would love for us to believe it. The reality is that when you deal with global bankers you are giving them a say in your community and your lives. We don’t need somebody in Belgium deciding whether or not we get a car loan. Likewise we don’t need a global bank like Bank of America giving illegals bank accounts illegally and providing wire transfers to funnel their money out of America.
More and more companies are realizing there is not a global market. There are regional markets with a very tight alignment with cultures. “globalization” is just another form of wealth redistribution.