To know where you are going, it's good to reflect upon where you've come from.
The first banks date back to around 2000 BC in Assyria and Babylonia and consisted of merchants that made loans to farmers and traders that carried goods between cities. The real beginnings of what we know as the modern banking model can be traced to early Renaissance Italy, where the Bardi and Peruzzi families established a presence that slowly spread to many other parts of Europe.
Social contagion was at the core of how these new and diverse banking services spread. Word of mouth was a huge component in driving demand for new financial services and it remains so today.
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