All these different banking companies. I don’t fully get how they decide what type of services and products they should sell. I would’ve never thought that they would make new services and products. Anyone know why they do this?

I’ve always thought of banks as something that people put their money into, and it’s saved, and then you pull the money out. Then when I heard my old man talk about CD’s and savings returns I was like “oh okay”. And then I hear about ETFs and other things… it seems banks are not what I was told traditionally which was “put your money here because that’s how people pay” but it’s much more than that. Curious what the main differences are between these online banks and brick and mortar banks and all types of banking because it seems to be an entire industry that’s beyond me, so curious if you can shed some light on a newbie here