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Bank 2.0 by Brett King

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Self-Service—the Promise and theReality

The drive for efficiency

The initial drive for banks to launch ATMs was to promote an innovative image in what was still a branch dominated world in the 1960s and 70s. There was little effort at migration of customers from branches to ATMs in an era of tight banking regulation in most of the world.

Regulation meant that banks were limited in what they could offer in terms of competitive interest rates, and with credit rationing, especially in housing loans, there were set quotas on what could be lent and at what level of interest rate. In such an environment, there was little incentive to be competitive. In effect, the banks were cross-subsidising their services, including branches, with the income earned ...

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