Put simply, it's a zero-sum game. If you use sites like PayPal (PYPL) to transfer money to friends and pay bills, you are not logging into your primary bank. And banks are starting to feel the pinch. Banks also feel the pinch when customers shop for a loan from the comfort of their couch on sites like Lending Club (LC), instead of putting on a suit and heading to their local branch to face what can sometimes be an intimidating conversation with a loan officer. It is a trend that is about to pay off for the online lender, to the detriment of larger banks.
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