Furniture company Ikea and supermarket company ICA are getting into the banking business in Sweden and taking market share away from the largest banks there, Bloomberg News reports.
The Bloomberg article suggests that may be because the biggest banks are hampered by "some of the world's strictest capital rules." But competition is itself a kind of regulation. If customers are fed up by the complexity or high fees or bad service of large banks, it creates a market opportunity for other firms to deliver banking services that customers will like better.
