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The Perfect Storm in banking
Posted: 9 March 2014

Do the banks really understand the Perfect Storm in which they find themselves? They face a global trust crisis, a regulatory tsunami, an full-on assault from a plethora of new non-banking competitors, demands from their own staff and customers for new models and services, and more. As this article suggests, up the 35% of traditional bank revenue may be under threat in a shifting marketplace.
And yet, in so many of the interactions we have with financial institutions, we find the same old complacency and often arrogance - the "we're to big to fail" mindset. Tell that to BlackBerry. Tell that to Kodak. Tell that to Lehman Brothers.
The point we make to these and other organisations is that its not about your industry. It's about a fundamental market shift. The reality is that it is your customers who are changing. And if you don't change with them, there's no prizes for guessing what will happen. Or, like some of the banks we encounter, do you think you're bigger and more important than your customers?

Banks have surprising new competitors
9 March 2014
Banks could see as much as 35 percent of their revenue up for grabs over the next decade. Which companies are taking advantage?
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