Technology is changing every aspect of our daily lives and its march is getting louder, faster and stronger as each day goes by. You only have to look at the total immersion of people in their smartphone screens on the train or street to see the impact of consumer technologies. The imminent arrival of wearables, such as Apple iWatch and the Volvo helmet  to keep cyclists safe, will have even more impact this year.

However, it is not these technologies themselves that make them so immersive and persuasive, but the apps that run on them. If you have not used Uber yet, it is the usual app focused upon by innovators as the gold standard of disruptive innovation. The reason it is cited so often is because it has emerged from nowhere as the app everyone loves. This app finds your nearest taxi, tells them you need picking up and where you want to go, and pays them, all within the app. That takes away two big barriers to people with a busy city life: finding a taxi and paying them. The app does it all. It takes away the friction.

That is what disruptive innovators have achieved in travel and related markets, but what is happening in banking? Not a lot. Most large banks have just taken their internet services to a mobile screen or, as I like to think of it, they’ve taken a big-screen banking system and converted it to a small screen. That is not particularly innovative thinking. For example, when the French insurance group AXA launched their mobile banking app, they invested in specifically making it a mobile-app-oriented experience. Similarly, new startups overseas, such as Moven in American, are creating new bank services with easy sign-on, touch-screen navigation, integration with other mobile apps and using fingerprints for authentication.