I don't think it can... Rather I would predict to be a co-existing situation with bitcoins and banks. For example, I am using HSBC while I am using ANX, no conflict with each other.
That's how it should be as banks and Bitcoin can perfectly coexist alongside each other.
There is simply no need for Bitcoin to get rid of banks. We need them.
Yes, these both are the intense needs of the day, it is ok that bitcoin is playing a good role in our financial life and giving us a number of favorable benefits but without banks, I think the world of business will remain numb.
I believe that bitcoin and banks will have some comon service to offer to us,makes no sense bitcoin against banks since they control the world,and the people money always at the banks,even with their services has some limites and high fees they control the fiat.Bitcoin cant compete with them,bitcoin is an option to some of us but the most use bitcoin for onlines issues and as investment option .