June 08, 2011

Future of Banking - Safe Strategy for Banks

Future of Banking - Safe Strategy for Banks: "'I have worked with many of the world's largest banks over the last 15 years. One of the greatest challenges facing every multinational bank is TRUST - or rather restoring trust. And one of the greatest risks is collective BLINDNESS. Failure to see banking needs through the eyes of customers; dangerous assumptions that past trends can predict future; failure to look beyond the typical banking view of global trends. BENCHMARKING is a lazy way to lead (and possibly destroy) a bank: 'We follow industry best practice', 'We take an average industry-wide position on this issue'. As we have seen, it is possible to sleep-walk with the rest of an industry into great danger, comforted by the large number of other banking leaders who have adopted similar strategies. Banks need clear vision, moral strength, prudent and agile leadership, flexible strategy, and customer focus.' Patrick Dixon, Chairman Global Change Ltd and author of Futurewise."
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