tag:blogger.com,1999:blog-9030878198120933396.post4235671895364092458..comments2023-10-30T15:34:57.958+00:00Comments on Random Musings: BANKING - INNOVATE OR PERISHSridharhttp://www.blogger.com/profile/07526495516327471443noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-9030878198120933396.post-79413882521531312402014-10-12T18:06:36.111+01:002014-10-12T18:06:36.111+01:00Very insightful post Sridhar. I think, even now bi...Very insightful post Sridhar. I think, even now big name banks, even if they are starting to innovate, aren't really putting their heart and soul into tech led innovation-its mostly an afterthought or an extension of the brick & mortar business. The innovate or perish thought process has not yet sunk in, probably since Banking & Fin is such a regulated sector with many barriers to entry that the incumbents think they can take it easy<br /> Anonymoushttps://www.blogger.com/profile/11968125828813410911noreply@blogger.comtag:blogger.com,1999:blog-9030878198120933396.post-50919199303664779722014-10-08T17:25:59.066+01:002014-10-08T17:25:59.066+01:00Sridhar, the trends definitely mean, there would b...Sridhar, the trends definitely mean, there would be de-mediation and re-mediation. Electronic technology has made access to the customer very easy, but at the same time, has made information availability for the customer to access the bank much more difficult because of the sheer amount of data and the data clutter. This clutter has led to remediation. <br /><br />One of the major changes that is occurring in the developing countries is the digital micro credits. One of the important function of a bank is access to finance, where Indian banks have performed rather poorly. That space is now being filled by newer intermediaries like Rang De. (https://www.rangde.org/)<br /><br />I think the innovation in micro credit would further limit the role of commercial banks and give entrepreneurial space, that is so much needed. <br /><br />I agree with you, banks of the future would be unlike the banks we know them today. I would probably think of them as conduits that carry massive amount of funds and be a back office channel. They will be nameless and formless. I would miss the colorful logos of them for sure. Balajihttps://www.blogger.com/profile/08173575131169154375noreply@blogger.com