2.3.1. Replacing Banks with Organizations and Institutions

Heffernan (2005) considers that banks represent financial firms, offering loan and deposit products on the market and catering to the changing liquidity needs of their consumers, such as borrowers and depositors. However, banks hope that by improving the level of technology and technological development, they will be able to provide more services to customers at a higher rate and have greater transparency in this process. The establishment of an efficient and solid banking system is an important prerequisite for sustainable economic growth (Spulbar and Birau 2019a). A significant part of the bank's resources each year are spent securing the system and complying with other principles approved by the world's financial system, and it is in this environment that financial institutions grow. Institutions that are responsible for providing services to the people but do not comply with the cumbersome rules of the banking system in the countries. Since these financial institutions spend a large portion of their financial resources on upgrading their financial and banking technologies, the efficiency of these institutions is higher, and they can be more creative with the tools available. Therefore, in the next 5 years, banks can be considered the financial and economic body of large countries, but small and medium-sized financial institutions are responsible for the micro-tasks of the banking system, and more people will be in contact with these institutions.
