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Former Barclays CEO says banks would face 'Kodak' moment in about a decade.

Global Banking News-July 20, 2017--Former Barclays CEO says banks would face 'Kodak' moment in about a decade

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Global Banking News - 20 July 2017

A former CEO of Barclays Plc (LSE: BARC), Antony Jenkins, has said that commercial banks could face their 'Kodak moment' in five to 15 years.

Alluding to the imminent irrelevance of banks, the banker said, 'The Kodak moment is completely different - that's where customers realise there's a totally better and different way of doing what they want to do, and the incumbent becomes obsolete.'

The official's comments come as Britain's biggest lenders are closing branches and increasing their investment in technology as customers are seeking more digital services.

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Publication:Global Banking News (GBN)
Date:Jul 20, 2017
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