I’m writing this letter to you with a very heavy heart. I’ve been your loyal customer since 21 years now. You gave me my first debit card, you kept my money for me, you sometimes even rewarded me with your “interest”. And I share a lot of secrets with you. You were my first of its kind.
But now things seem to be falling apart.
You’ve been so tied up with the recent frauds that have been coming up that you’re no more paying attention to me! On top of that, you use my money to cover up for your mismanagement!
These days I’m only using you to hold my money. For everything else, there are others who are filling in your space. UPI, Paytm, Airtel Bank, Mobikwik. Recently I made a new friend named Amazon Alexa. You know what she does? She yearns to listen to my voice 24/7 and makes instant payments on command. Oh love, you’re totally in the background now. That too unnoticed. Also, I think I should also tell you about someone I met a couple of days ago — WhatsApp. You know, WhatsApp is so quick to respond to changes! They integrated payment system within day-to-day texting. How awesome is that!
When I’m getting my banking services from some place else, why would I need you? On top of that, you’re also forgetting me.
If they can do it, why can’t you?
Also I know what you do behind my back. You take the data I generate for you and you run analytics on it. Love, I know data is the new oil now and you’re making money by selling my data to other companies. And what do I get in return? Nada! I need my pi too. If you’re making money out of my data, I need some share too. And you know what! My acquaintances are developing technologies like IPFS which serve the same purpose. They’d help me own my data, and get me passive income too. You’re, on the other hand, so selfish! You never even told me about such a thing.
I’m afraid if things keep going this way, we will have to part our ways.
Now let me introduce to my another friend. Crypto. She’s exactly like my dream come true! There’s no hassle with opening an account with her (unlike you). There’s nominal fee charged to send money. The transactions complete almost instantly. And I make more money out of crypto. You, on the other hand, say no to me whenever it is inconvenient for you. You give my money to other people as loan and when they can’t pay you back, I have to bear the cost.
It’s not you, it’s me. I have changed. And you don’t want to change.
And till when will you even resist change? One day you will have to come back to me and that day is very near. That day would be horrible for you. By that time, everyone (including me) would have moved on with life, and you’d stay behind.
You still have time. Either adapt to the change or…. stay the way you are. Choice is yours.