The Future of Retail Banking in the United States: Between Plurality and Hybridation of the Industrial Models

Influenced by reforms of the regulatory framework that originated in the post-crisis context, and the quick technological and demographic transformations, retail banking activity in the United States proves to be in a state of profound transformation. Such changes are characterized by a stronger dichotomy between systemic and non-systemic institutions but also by the expansion of alternative providers. They are stimulated as well by the possibilities of regulatory arbitrages and the perspectives that new technologies offer. Nevertheless, assessment of such shift remains difficult. The perspective of a wider access to banking services at a lower cost through a more competitive sector, on one hand, seems to be balanced by the perspective of a greater segmentation between customers, based on age, incomes or geographical localization, on the other hand. Moreover, this shift could draw the attention to concerns about financial stability and systemic risk prevention, raising ultimately the question of the adequacy and relevance of the institutional supervisory framework.