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Funding the future
Posted: 26 July 2013

We've been fairly critical of banks in general over the years, because they are bureaucratic, oligarchic and not very innovative, although there are exceptions. But we've also been quick to point out that banks, like all businesses, can change their future.

Globally, banks are having a hard time of it, their reputation is in tatters, and new competitors are disrupting their traditional revenue streams. From Bitcoin to Mobile Money, technology is proving a key disruptor. So too, does crowdfunding become a force to be reckoned with.

There's a new type of service in the US, called Simple. They prefer not to call themselves a bank. Their ad slogan is: "Get ready to leave your bank." Crowdfunding could be one more reason that, in the future, some businesses may not need a bank at all.

Why Your Local Bank Is Terrified of Crowdfunding | Inc.com
26 July 2013
As crowdfunding becomes more mainstream, more entrepreneurs see it as an alternative to bank loans. Banks are none too pleased.
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