Technology will displace more banking jobs

I feel that this was going to be inevitable but the trick is to stay on top of these changes in the market.

Technology will displace jobs in yet another sector: banking. Citigroup released a report on Wednesday projecting that up to 30 percent of current employees at American banks may lose their jobs in the next decade, as start-ups replace different aspects of the financial industry. The new “fintech” sector attracted $19 billion in new investments in 2015, reports the New York Times.

I started to see this with bank tellers. With online banking and ATM machines many of us don’t even have to go into a financial center anymore.

Photo by sk8geek

Authors

Top