The last thing a bank wants is something that may hallucinate, aka, may not be deterministic.

The future is PSD2 where the bank sticks to mainframes and the service provider serves you AI emojis.

A bank is more than an app. You are responsible for people's hard-earned cash, so there is, understandably, a lot of regulation and it differs from country to country.

Speaking as a customer of a bank that thinks it knows me but clearly doesn't, I would not bet on personalization. It sounds great in boardrooms but I would prefer it if my bank app just got out of my face and didn't try so hard to be a lifestyle brand I could not care less about. I also would not trust any automated investment algorithm made by some intern.

The moment a country/central bank rolls out an interest-bearing CBDC with an AI that taps into centralized credit data to issue small loans, *most people* won’t need a traditional bank ever again.

So...a digital wallet, like a passport, issued by the central bank. Safer. Pays interest. Gives modest credit. UPI already blindsided Mastercard/Visa in India. The same could happen to retail banks quietly displaced by a central bank wallet for the masses. I wouldn’t be surprised if China or India gets there first.

The upper classes will cling to their banks for wealth management, tax juggling, hedge fund gymnastics etc cuz their 3-inch chimp brains, by themselves, can't handle the complexities of modern ever changing high finance games. But for the rest of us? Banking apps may go the way of fax machines.