Are retail banks innovative?

The banking and financial services sector is perhaps the oldest profession around. In recent times banks have come under heavy fire from customers, regulators and the media alike for their participation in and failure to prevent the global financial crisis. The introduction of Credit Default Swaps, CDOs, Asset Backed Securities and other structured financial instruments are thought to have contributed significantly to the failure of the global equity markets in 2008, and the subsequent global recession.

So are banks innovating in the right areas? Has the innovation in product produced greater customer satisfaction, higher margins and better banking?

I’ve compiled this infographic to put some of the thoughts in perspective. Let’s just put it this way, banks are not know for their innovation. But they better start learning, and fast…

Retail Banking Innovation Infographic

Is product innovation enough?

Comments

  1. Pretty nice post. I just stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog posts. In any case I’ll be subscribing to your feed and I hope you write again soon!

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