As anticipated in recent months, the fintech universe is reshaping the spaces used for purchases. Not only shops and stores but also banks. In fact the question is very simple: what are all the places for the interaction between consumers and operators when a simple click is enough to buy a product or make a transition through an app or an online platform.

This phenomenon is destined to widen with the introduction of the directive on payment services known as PsD2. One of the purposes of the legislation is indeed to increase competition in the sector to the advantage of consumers by eliminating the monopoly of traditional operators. This is what today is called open banking.

Small and medium-sized banks are therefore unable to oppose this disintermediation of their role. The new millennium consumer is indeed skilled, he juggles smoothly  between the various payment methods and is no longer willing to waste time in front of endless queues at the counters or in crowded stores; places where he is no longer forced to go, being able to perform any operation from the comfort of his smartphone, just with a simple touch.

In fact, technological progress boasts, like a modern Prometheus, of having stolen a precious treasure, not fire in this case, but time, and having returned it to people. The consequences? A more impatient and conscientious consumer, who is no longer willing to tolerate losing even a second of the precious treasure that was given to him.

The consequences for the banking world are enormous. The banks themselves will have to make simpler and quicker interactions with customers, speed up the times and make themselves indispensable, as they were in the past. It is therefore essential to be an open platform, which focuses on service rather than on the product. Without dwelling on simple financial services, but trying to improve the management of the client's needs, enriching their product / service portfolios, and forging alliances with companies in the Fintech world that can provide technologically advanced solutions for their customers.