Facebook banking - Like it?
Wednesday 5th June, 2013
To create anything new, you need the right mixture, the right environment. This is precisely the case with the current changes in payments and banking. The prolonged adverse economic background, coupled with a reluctance from traditional banking sources to lend - has led to an increase in innovation, sometimes from areas not directly previously associated with the financial sector.
Take Facebook for example. Not necessarily the first place which comes to mind when thinking of banking - but with the rise of key apps - that's unlikely to be the case for much longer. Instabank in Russia, CommBank in Australia and ICICI bank in India - have all seen the potential for side-stepping traditional routes and have tied apps to Facebook.
