The future of financial services is all about digitalization. This much is well known. What is less well known is that this is also the reason why banking transactions might be driven by non-bank disruptors in the coming years. How well will future innovations such as e-currencies be integrated into the banking industry? Will cash become obsolete? Jeffrey Bahar, Deputy Chief Executive Officer of Spire Research and Consulting, reflects on the drastic changes happening in financial transactions today. The combination of digital cash and virtual currencies has inevitably curbed the usage of cash in developed markets and across many Asia-Pacific countries. Cash as we know it might lose its status as the dominant form of payment by volume in the coming years – unless banks create innovative new modes of payments to counter the trend. Bahar opined that mobile penetration would continue to rise in the developing Asia-Pacific markets. Unbanked and under-banked market segments would inc