Jonathan explains, "This report will argue that retail banking is going to be the most exciting part of the banking business over the coming years. Yet unlike the bricks-and-mortar bookshops, travel agents and record stores that have been swept away by the internet, banks have two enormous advantages in adapting to change and adopting new technologies. The first is that in the minds of consumers, money is still special. Few customers like to switch banks, even if they are unhappy with their own, and even fewer seem ready to trust one without a physical presence. That is changing with time, but slowly enough to allow banks to adjust."
Highly recommended reading.
Retail renaissance | The Economist
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