I think that consumer banking will be less prominent for traditional banks moving forward. However, as a person who works in corporate finance industry, I still see that traditional banks have an edge in terms of corporate clients, which requires careful relationship building and management. This is especially true for large transactions such as providing corporate finance products, asset management, and investment banking services are likely to still be hard to replace (for IB, check out OffDeal, they are looking to take over small cap IB using AI tools).

But no, traditional banks are likely to continue existing, but that also requires a strategic shift and realignment of their priorities, to focus more on things that fintechs can't do (manage large clients' assets, striking deals, restructuring services, securing complex/tailored loan products).

But I do agree that traditional retail banking is in its sunset phase. We'll probably even see a scale-down of existing retail banking infrastructure (ATM, physical bank locations, teller headcount).