“The analysis comes just weeks after Antony Jenkins, who until July was CEO of Barclays, warned in a speech that as much as half of banking jobs could be replaced by apps and algorithms over the next 10 years. Jenkins’ argument rests on the rise of fintech — financial technology — startups that do things like payments, lending, and investments in a smarter, cheaper, and often faster way. Jenkins believes fintech startups will ‘disrupt’ financial services in the same way Uber has disrupted the taxi industry. That will squeeze profit margins, forcing banks to cut staff, and also force them to compete on technology, another change that will reduce headcount.”
http://www.businessinsider.com/banks-uber-moment-100000-bankers-fired-in-2015-2015-12
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