Analysts at PwC expect the disruption in retail banking to continue and identify the five most likely directions for how banking will unfold over the next three-plus years.

“We can anticipate continued disruption of the banking industry in the coming years,” says Kurtis Babczenko, PwC Global Banking and Capital Markets Leader. “It is not an exaggeration to say that ten years from now, retail banking as we have known it may be irrelevant.”

Banking may occur entirely in mobile apps and crypto wallets, while a few select institutions may dominate financial services.

Transactions may be conducted mainly through digital currencies, while subscriptions may replace fee-based banking revenues. Meanwhile, banks with extensive networks of branches may be dismissed as financial dinosaurs.

The consulting firm suggests banking leaders must understand several dominant trends to plot a course through a changing market landscape.

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