While we are not looking at the end of banking as a grouping
of services focused on meeting financial needs, we are surely
looking at the end of banking and banks as we currently know
them. A failure to adapt could also mean the end of some
regulatory bodies and instruments. The substitution of nonbank
providers of banking services is a challenge which is not
at this point reflected in banking regulatory frameworks, or yet
– fully at least – in policy and regulatory change agendas.
It needs to be.