Apps like Robinhood and Acorns are shaking up a space that has been dominated by large establishments since the beginning of modern finance. What makes these apps so special, why are consumers responding to their message, and should big banks be scared?

Technology has infiltrated every facet of our lives (even when we’re sleeping). It’s only natural that tech companies large and small would turn their attention to one of the oldest and largest verticals (expected to reach a value of $26.5 TRILLION by 2022) in our economy, the financial sector. Tech has promised for a while to upend the way that people bank, even challenging what we consider fiat currency. To date though it can still feel like the only tangible commercial banking improvement (if it’s even an improvement) is commingling baristas and tellers.