Isn't this why a variety of industries such as banking are being or will be disrupted?
For example in banking, I would love to set up income apportionment (i.e. x% here, y% there, ...) but for some reason I have to split out income deposits every once in a while via manual, external tools. Why is it again that we haven't set up two sided and payee specific authorizations so that we never hand out data that can be used to steal from us and we could be notified if a payee tries to bump the bill? I've suggested these and other things to banks and credit unions for years...
Banks have moats. It's really hard to get past these moats. They are so central to the way that the financial system works, that it's really hard to "disrupt" them. Even the tech giants likely wouldn't succeed.
Yes, the regulatory overhead is quite high. There are plenty of adjacent firms who could start making moves. Banks are central but the disruptor only needs to provide increasing partial replacement at sufficient profit to continue offering services at sufficient parity.
For example in banking, I would love to set up income apportionment (i.e. x% here, y% there, ...) but for some reason I have to split out income deposits every once in a while via manual, external tools. Why is it again that we haven't set up two sided and payee specific authorizations so that we never hand out data that can be used to steal from us and we could be notified if a payee tries to bump the bill? I've suggested these and other things to banks and credit unions for years...