Digital Disruptions in Retail Banking
New technology will continually change retail banking, but even more turmoil will be caused by the proliferation of (digital) consumer superbrands and their technology.
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I have read several interviews during the summer with retail bank CEOs that states to the market that a) they are concerned about disruptions and b) they will act on it.
Of course nobody will tell openly what they are doing about it, but among the reasons lie one big one: they might not know how to deal with the digital superbrands. The cashflows of retail banking are mainly based on miniscule transaction fees, and the ones that own the consumer contact, controls the cashflow.
It's a new world to adapt to, and I haven't seen any retail bank strategy (yet) that hits bulls eye.