The year 2015 is less than eight years away. The Olympics of Beijing and London will have come and gone by then, but the competition for personal finances in the retail banking arena will certainly not have disappeared, it will just have taken a different form.
The only thing we can be sure of in 2015 is that there will be demand for retail banking services, who will provide them and how is less predictable. While there is a presumption that traditional banks will continue to dominate, the financial revolution presently taking place globally in terms of consumer awareness, digital capability and information flow means that those banks surviving to 2015 and beyond will need to perform differently and operate under new norms.
