Branch Based Banking is Seeing a Steep Reduction in the US and UK. This is How Konzortia Capital fits in this context
Throughout the last decade, there has been a tendency for brick-and-mortar banking services to be reduced and replaced by more sophisticated online and digital banks. Although this has many bank executives worried about the chances of finding ways to adapt to the new realities of the market, at Konzortia Capital we see it as an opportunity to tackle a growing new market.
The future relies in a branchless and cashless system. And although we’re not quite there yet, the progress towards that point is being reflected in the statistics that indicate the state of the markets. In the last year alone, there was a 5% decrease in the amount of brick-and-mortar banking establishments. Although some tend to believe this is merely an effect of the pandemic, and that there still advantages in visiting a local banking branch. This, however, does not deny the fact that branchless transactions are simply more efficient in terms of times, costs and security.
At Konzortia Capital, our firm belief is that we must take the next step towards the evolution of the financial system. A branchless and cashless system, or at the very least something close to it, will be much more efficient, transparent, secure and inclusive. We, as a company, aim to be the ones leading that step, and for leap, the release of SBank this Q1 2021 will represent a first step. SBank will provide the first truly globalized banking service that will be accessible for all actors in the financial system, from natural persons in all levels of income and all locations, to companies of all sizes and institutions, including banks, governments and regulators.
This level of inclusion, transparency and efficiency is possible thanks to cutting edge Distributed Ledger Technologies (DLT). We thus invite our readers to follow our social media, visit our site www.konzortiacaital.com, and subscribe to our newsletter to be up to date with the latest advancements of a project that will revolutionize the world of finances.