In the next few years, Unicredit, Intesa San Paolo and Ubi Banca will send home about 11,000 workers.
It is news these days that Intesa and Ubi are working on a merger and this will lead to the closure and merger of many branches scattered throughout the territory.
The profit margins for the banks are getting lower and lower, I add, we have talked about it several times on My Business.
Everyone is pulling their hair out for the bankers who will be fired or early retirees and for the shareholders who are earning less but no one talks about savers.
What will happen to our money if the banks are doing badly?
The scenario of the age of complexity can be summarized as follows:
- Alongside the traditional banks, various companies in the so-called fintech world are already emerging that carry out small pieces of bank services with lower prices or different methods of use ;
- The big banks will cut off avalanches of branches and will be more and more online;
- To stay on their feet, the big banks will have to “squeeze” their customers with the toxic products of managed savings and will have to continue milking the companies to which they often practice frightening conditions (if you have a company, you know what I’m talking about).
The average Italian saver, already today, is faced with a crossroads: to be squeezed by traditional banks that have to make cash with their money or to rely on the services of the nascent platforms that allow them to manage money, invest, give and receive money.
In any case, the level of complexity increases because banks have become a minefield where there is a package on every line of contract while fitness often have practical problems and / or do the same things as banks in a more elegant way.
Today you have to move more dynamically
Thirty years ago it was enough for you to have money.
Without knowing how to read and write, you could go to the branch in your neighborhood, ask to open an account and buy Italian government bonds and you were inside for 20 years without any particular problems.
Do you want to buy a house? Tie, take the mortgage that I’m not even asking you for blood tests, as real estate prices rise and we all love each other.
End, they all lived happily ever after.
Today the context has completely changed.
Banks need to raise cash, fitness need to make money and end customers are scared.
How do you get out of all this? There are basically two ways.
The first is to keep hoping that no one wants to cheat you, not even your cousin’s son who graduated in economics the day before yesterday and who has to sell the policies because otherwise they won’t renew his employment contract.
The second, on the other hand, involves a greater commitment from you. If you have capital and savings capacity, you can’t wait for others to take care of it because the main responsibility falls on you.
To survive and thrive in the age of complexity, it is essential to read, study and train because the people we face have interests that conflict with ours.
My Business has been an authoritative voice for nearly six years to help you do this with content like this and the Academy’s advanced programs.
My only interest is to tell you the truth, without going around it, because my mission is to help those who want to follow me to improve the management of their finances.