Given the fact that large companies such as Apple, Amazon, Ping An have begun to provide financial services, and their credit cards are especially in demand, then in this case, bad times really come for banks. According to competent analysts, in order for the banking system to remain operational and many banks to survive after the next economic crisis, banks will have to introduce new technologies, as well as use outsourcing and large-scale mergers with other banks and structures. Otherwise, such banks simply run the risk of disappearing.
Nowadays banking is considered the key to economic success so that banks are imaged as important for developing the economy even though what is key to the economy is banking, not banks. But because there is already a doctrine, so entrepreneurs and academics see the bank as the most important and must be protected. Whereas the bank was designed only for the rich because those who can borrow at the bank are those who have collateral (asset-based loan), even though the bank collects funds from most people but the allocation is only for a group of people.
Banks are a sunset business because now banking can be done by non-bank institutions such as Paypal and many financial services that were initially provided by banks are now provided by many digital platforms.