Banking without the banks

Written by Searching Finance team Thursday, 21 April 2011 13:13
Rate this item
(0 votes)
The financial crisis and the subsequent distrust of the existing banks have created an opportunity for new competitors to enter the market for financial services. Organisations from outside banking could use their trusted  brands,  their  stronger grasp  of information technology and their stronger customer service ethos to potentially shake-up the provision of financial services and hence to take business away from the “traditional” players. In the UK financial services sector, Tesco and Virgin Money are two main potential entrants. In a article in The International Journal of Bank Marketing, Professor Steve Worthington and Peter Welch analyse their prospects and challenges.

Add comment