But Banks will not going to spend millions of money and time to re-brand their existing site. It is easier and cheaper for them to reserve the domains and redirect it to existing website. If they redirect, they just registered their domain for defensive purpose only.
And consumer will prefer to see a better service from their bank instead of changing the URL address and add confusion to it’s costumers.
I would like to see how many of these 5,500 bank applications to go live after one year.
It will be a success if I see banks .e.g. Capital One, Citibank, Bank of America, and other using .BANK extension.
Time will tell.