The Invisible Bank and Its Transformative Impact on Financial Services

Written by Michelle Selina The concept of the “invisible bank” signifies a transformative shift in the financial industry, where banking services seamlessly integrate into daily life, eliminating the need for traditional bank branches and digital banking interfaces. With the advances in technology such as AI analytics, IoT, voice banking, personal financial management software, banking as a service, and other fintech innovations, all of this aims to achieve the goal of invisible banking. However, the more banks implement these technologies, the more likely they are to be overlooked by consumers. This is because, as we move to the next paradigm, banks will need to reimagine how they interact with customers and redefine who their customers are. The Evolution of Banking · Traditional Banking: Initially, banking revolved around physical branches where customers conducted transactions in person. This model offered personalized services but was limited by geographical constraint...