Well, you can only use the word "disruption" if it actually disrupts. Given the vested interests at stake, I'm not convinced that it will.

Yeah, to me a disruption is something that incumbent players have no choice but to either adapt to or die, like Borders vs. Amazon. If the incumbents still control the value chain, then it's not disruptive. (I have no idea which is the case in this particular market.)

Then the US finally has as good a banking system as Europe. (About time)