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Bank 2.0 by Brett King

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Conclusion—Tradition orInnovation?

The changes are going to be rapid and significant. The good news is that initial development of channel support and some of the platform capabilities are already in place. The complication, however, is that since the early 1980s banks have been comfortable in retail growth that has generally been leveraged off just three core retail segments—mass market, mass affluent and High Net Worth customers. As a result, the business has been built around products to support these segments and offerings through the primary retail channel—the branch.

There used to be a story running around the banking fraternity to explain how banking worked. The saying went that you took deposits at 3 per cent, lent them back out at 6 ...

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