Technologies are replacing personnel. Its a phrase that scares every clerk who does routine paperwork. As it did in London in 1967, the banking industry is using process automation wherever possible, revamping organizational structures and setting up digital infrastructures that result in more cost-effective service provision. Itb s the core idea behind many FinTech startups b to use technology to provide easier access to financial services for customers. Now that there are lots of individual players in the market who offer specific financial services for a smaller price, banks are struggling to keep up with the competition. But its still too hard for them to catch up, because it takes many separate cogwheels to move this bureaucratic machine.