There were 11,652 FDIC-insured institutions and 5,733 NCUA-insured credit unions in the United States as of the most recent data, but some sources estimate nearly 18,000 financial institutions due to M&A activity, institution failures, and changing infrastructure. The number of financial institutions has decreased over the past few decades, with banks reaching their lowest numbers since regulators started tracking metrics and credit unions also seeing a decline. Consolidation and failure have disproportionately reshaped the industry, with more than 10,000 banks leaving the industry between 1984 and 2011. Today, the top 200 institutions hold about 70% of all U.S. depository accounts, but small banks and credit unions remain important for rural areas and other constituencies. To build a comprehensive financial ecosystem, it's essential to account for the legacy infrastructure and technical details that underlie these institutions, as simply building integrations is not enough; consolidation is necessary to provide the best user experience.