In the retail banking industry, distribution is king. The quest for new channels through which to deliver banking products and services continues unabated, with new innovations appearing all the time. In recent years, for example, the mobile phone has emerged as a key and increasingly ubiquitous vehicle for remittances in Asian and African countries, while in the UK, Europe and US, it is beginning to catch on as a full-banking platform.
Meanwhile, the web continues to offer a slew of possibilities, from the now established world of online banking to newer innovations in the field of social networks and collaboration tools. Technology surrounding ATM machines and other self-service channels continues to surprise, with facilities now available for self-service credit applications in Turkey and even initial public offerings in Saudi Arabia.
