Why is DeFi better than banks?

I'm curious, could you elaborate on why many individuals and investors are turning to DeFi, or decentralized finance, as a superior alternative to traditional banking systems? What specific advantages does DeFi offer that traditional banks simply cannot match? Is it the increased accessibility, the lack of intermediaries, the potential for higher yields, or perhaps a combination of these factors? I'd love to hear your insights on why DeFi is gaining such traction and momentum in the world of finance.