“The incumbents almost never survive technology disruption. Lookat Borders, Blockbuster. Now it is coming to banking,” said BrettKing, a kickoff speaker at Sibos, an eventhosted by innovation expert Innotribe in Toronto that looks atthe future of financial services.

A prolific financial services blogger-thinker, King was there to announce Movenbank, an innovative retailbanking concept that springboards off the revolution inherent inmobile banking.

“We believe that you will always be banking but never at abank,” King said Monday in an interview.

“Banking is changing from somewhere you go to something you do,”added King. “Mobile is a disrupter.”

King said Movenbank would go live on the Web on Oct. 1 and heexpected it to formally launch in Q2 2012.

“This will be a reboot of banking that rethinks all therelationships,” King said.

He elaborated that he saw Movenbank competing with Google Wallet for the mobile banking customer.

But he insisted there are huge opportunities in financialservices that are triggered by loss of customer goodwill.

“Customers say they want a different banking relationship.Customers choose a bank because they feel they have to have anaccount. But there's a lot of friction in those relationships. Thetrust in banks has been eroded,” he said.

This lack of trust, suggested King, opens a door for innovatorswho rethink financial services. “Maybe we can get in under theradar and pick off a million customers.”

As for credit unions, King ominously predicted: “The sub-$1billion credit unions may have a lot of trouble navigating this newworld. They will have big challenges.”