margins

That Revolution sets a 2.25% payroll account It is not news. The news is that it has taken so long to do so. This is the time when The so -called “Neobancos” complete their metamorphosis: from rebel alternative to direct competitorof complementary bet to total substitute. Traditional banking has been watching Revolution for years and company as irritating digital mosquitoes. Annoying, but not lethal. “They lack regulatory muscle,” they said. “They cannot give mortgages,” they argued. “People want branches,” they self -convent. Evil Timing. Meanwhile, 4.5 million Spaniards already have Revolution. The third largest population in Europe for Fintech. It only remains to close the circle: Mortgages on the wayNetwork of ATMs announced and now, finally, the payroll account. This is not a tactical movement, it is strategic. The Neobancos have followed a calculated trajectory: first international transfers (the weakest point of traditional banking), then the basic accounts, then the investments, and now the heart of the banking business. Until They accept Bizum and Friends of the Treasury have become. The rest will also come. They have applied The classic disruption manual: enter through the margins and move towards the nucleusfirst occupying the less protected spaces and advancing patiently to colonize the center. Traditional bank has always responded as the incumbents respond: underestimating, imitating late and bad, and finally panic. Do you remember what happened to the telecos after The appearance of the OMVs? The interesting thing about this moment is not that Revolution offers its 2.25%payroll account, but that we have reached the point where the differential between “Neobanco” and “Bank” is purely semantic. It is the moment that the disruption complete its cycle and the disruptor becomes the new established power. We saw it with Amazon in retailwith Netflix in entertainment and now we are seeing it with Revolution in Banking. The Revolution It is over, the post-Banco era begins, where digital entities are simply “banks” and traditional are vestiges of another industrial era. “After Picasso, only God!” Said Dora Maar, lover and muse of the Malaga painter. And after the Neobancos reach the throne? Surely, A period of concentration – we also saw it in the telecos –where the most successful Neobancos absorb the little ones. And then? A stage in which traditional banking is oriented to a more concrete customer profile than the current generalist: seniors and conservatives. The unknown is whether Revolution will keep its advantage – cultural and technological – once this transformation is completed. History lets us intuit that no: yesterday’s revolutionary is the bureaucrat of tomorrow. There is no need to think about ing. But until that time comes, we are going to see a fantastic show: that of traditional bank giants (some are over 150 years old) that are going to be displaced by those who less than a decade were startups in a Coworking. In Xataka | India has been moving away from international payment networks. It is a hard blow for the giants Visa and Mastercard Outstanding image | Revolution