The death of bank products has been greatly under-exaggerated

Source: Moven

Since 2005 I’ve been predicting the decline of branch banking. For almost ten years I fought bankers who decried my assessment that branches would cease to be the most important channel in banking, to be replaced by far more efficient mechanisms for revenue generation and relationship. Today the discussion is increasingly resorting to a sort of desperate plea — 'but branches aren't going to die completely, are they?' No one is saying branches will grow.

The UK, the US, Spain, and a host of other countries are seeing the lowest number of bank branches in decades. For the UK you’d have to go back 60 years to find lower numbers of bank branches than we have today, and 2014 saw the use of bank branches fall 6% in a single year — the biggest reduction ever. 

Is it time to debate the Digital Only business model?

For many bank executives today, there are very real concerns about the impact on their business models by so called digital disruptors. The question is how long will that disruption last, and is being digital enough of a differentiator to create large corporate casualties?

If you are like me, then you must be getting tired of seeing messages about 'Unicorns' and how Uber owns no taxis, and AirBnB has no hotels blah, blah, blah.