As of now, there over 30000 banks across the globe. The banks together hold huge amounts of assets. The cash and assets of the top 10 banks are worth over 20 trillion dollars.
While the banking world might appear complicated however the intention behind it was to make trade and simplify life. The trading process became increasingly complicated over time due to the proliferation of currencies. Traders always had to convert currencies from one currency to another, which was further complicated due to counterfeit money and fraudulent transactions. This was what lead to the establishment of banks.
Nowadays, there are numerous kinds of bank services available, including lending money, trading, to cash custody. In the current time, banks have abandoned their roles and are now taking short-term risks so they can cash in quickly. It’s making the banking sector a gamble system and causing lots of issues. This is why governments have stepped in and have implemented tough law to limit the manner in which banks operate.
There are several different business models in the market today, such as crowdfunding or micro-funding. They are replacing the traditional banking services. sj1535s6b1.