For much of commerce there is an aspect of entertainment, which is a special case where risk is involved.
In personal finance, the entertainment value is not entirely different from that of a game, inherently…
… which might explain the popularity of mobile banking, garnished with apps and colorful features, despite the branches that await with open doors on every other corner.
A risk level up from that is the investment and the trade, where the entertainment value is perhaps less subtle.
The charts, the headlines, the opinions that form, the feeling of adventure when the order is executed…
… which speaks to some more than others, no doubt…
… but the immediacy of all that, its universal easy access, was not so differently enabled by the Internet than, say, YouTube was, or, maybe more analogously still, sports spectatorship and its new forms of engagement.
People pay for that, even if not in fees, just as we pay for YouTube even if we don’t subscribe. At scale, the value of such payments may exceed the fee potential.
The future bank will be a media conglomerate, in fact it already is.
It’s only a question of quality, and degree.