An industry, by definition, can't have competition. The soft drinks industry also has no competition - if you want soft drinks, you have to buy from them.
Competition happens inside an industry. And there is fierce competition between banks, much more so than in many other modern industries (e.g. there is much more competition than in tech).
As someone who is interested in banking innovations, there is hardly any real competition worth its name. Just more and more consolidation into bigger banks.
Competition happens inside an industry. And there is fierce competition between banks, much more so than in many other modern industries (e.g. there is much more competition than in tech).