The biggest impact from financial technology (fintech) hasn’t been on traditional financial providers; the biggest impact has been on the way consumers manage their financial lives. Although 94% of U.S. households have a checking account, the importance of that checking account has diminished. Fintech has enabled a trend called deposit displacement, which is the displacement (or diversion) of funds away from traditional checking accounts to alternative products and accounts like health savings accounts, P2P payment apps, robo-advisors, and merchant mobile wallets.Ron ron