Can banks become tech platforms?

HOW are banks responding to an era of massive technological disruption and the prospect of lower interest rate margins as global interest rates fall?

The banking industry used to be the most profitable business because interest rate margins (lending rate less deposit costs) were high. In the 1960s, when bankers were considered trusted custodians of other people’s money, the dictum “three three’s” referred to an interest margin of 3%, three-hour lunches with clients, and finishing at three o’clock on the golf course.