Sorry doesn’t add up with the facts/data.

In China Alipay and Tencent Wechat Pay consistently outrank most Chinese banks on the Trust scale. 74% of Chinese consumers would trust Alipay to move money as much as, or better than a bank.

In terms of scale, the fastest growing FI’s are almost all exclusively fintechs or Tech Giants. The largest FI in the world by customers is Ant Financial, more than ICBC. The largest deposit product in the world is Yu’e Bao, owned by Ant Financial. The largest challenger bank in the world, WeBank, has more retail customers than JP Morgan Chase.

On the Alchemy point, banks are working with Fintechs to leverage deposits and access lending. 80% of LendingClub’s deposits are institutional made by banks.

Sorry — none of this actually differentiates banks in the way you think it does.

Brett King
Author Bank 4.0 — Banking Everywhere, Never at a Bank
Founder Moven, the first Mobile Challenger Bank in the world