Printer Friendly

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

(C)2017 ENPublishing - http://www.enpublishing.co.uk

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.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

((Distributed via M2 Communications - http://www.m2.com))

COPYRIGHT 2017 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2017 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Jul 20, 2017
Words:140
Previous Article:Indian government official says no shortage of funds for innovative entrepreneurs.
Next Article:Russian prosecutors contest central bank's administration of top lender.
Topics:

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters