This is a great thought provoking article.

What I personally find particularly interesting is the rapid transformation in developing markets such as Vietnam, Indonesia and India. These countries don't have decades of trust built up in brand-name banks, so the disruption can be much faster. If a country with 200M+ people suddenly started transferring their money digitally via wearables, what impact would this have on the banks..?

The pace of development within the banks needs to be stepped up, rather than just talking about it...