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Can banks re-invent themselves?
Posted: 3 December 2007

This is a great scenario. I see it though as a challenge to the conventional banks - how can they embrace this new phenomenon and use it to their advantage as opposed to just losing their retail banking divisions? Can they be bold enough to radically re-invent themselves? What would they need to do - embrace the network principles, understand new risk measurement parameters, etc - CAN they be that bold? WHO could?

MindBullet logo CITIBANK DUMPS RETAIL AS P-2-P LENDING TAKES OVER
Social banking and circles of trust replace consumer savings and loans
Dateline: 21 November 2009
Citibank has divested from its retail banking operations and is focussing strictly on commercial and merchant banking activities. It is also seeking to get rid of other 'assets' which have been falling fast in value as the banking shake-out continues. It started with the sub-prime crisis of 2007, which rapidly escalated into a credit crunch. But the emergence of social lending and ...
 
Doug Vining Guy Kawasaki looks at social lending in his blog article "The Six Lessons of Kiva" and takes away six lessons for entrepreneurs from the Kiva phenomenon. Perhaps there are lessons here for banks too?
http://alwayson.goingon.com/permalink/post/22099
Posted: 5 December 2007 at 12:25
 
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