I don't think so. They are creating the metaphor that banks == blockchain implementation + stakeholders, money == blockchain tokens. Currently most of the cryptocurrencies you see with ICOs are just erc20 tokens ontop of ETH (therefore centralized). For banks they leverage SWIFT + other more local mechanisms (double entry accounting, etc...) to resolve transfers.

Its possible in the future we will develop a mechanism that allows two completely unrelated & unconnected blockchains to transfer tokens between eachother. I assume there would have to be either an intermediate chain specific to this purpose or both chains would need to follow a similar implementation. So far we started with Proof Of Work, we now have Proof of Stake and Proof of History. There may be more mechanisms in the future.