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by KarlKemp 1631 days ago
I don’t remember a single instance of 50-year old banking technology costing customers money, so I don’t see what the supposed downside is. You refer to a “brand-new system” that is “much cheaper to run”. But as far as I can tell, the operational costs of a mortgage are little more than an (exquisitely analyzed) rounding error. There are some new bank(ish) startups here in Europe like N24 and there are some new rules for data portability. But I’ve yet to see any exciting ideas coming from such efforts.