Banking Software industry is building obsolete solutions

Why Millennials Would Choose a Root Canal Over Listening to a Banker

TIME

It’s symbolically important that a dozen or so former bank buildings around the country—some road kill from the recession—have been turned into thriving nightclubs. The young adults who frequent these dens would tell you it’s a far better use of the space; they have little interest in banks, period.

You don’t have to look hard to find out why. Millennials have a whole new set of money issues that banks do not address in a relevant way: this generation is loaded with student debt that’s difficult to refinance; grossly underemployed without access to capital to start a business, or three; and hungry for financial guidance that isn’t self serving. Millennials also want to conduct their affairs on a smartphone, not go to a bank branch—ever.

This generation does things differently. Couples are quicker to mingle their financial accounts. They are more likely to piece together a career through four or…

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