hesaid.New competitors
Unless banks can fix their IT problems, new competitors could enter the retail banking space.Such organisations will not be handicapped by 40-year-old legacy systems. In fact, many potentialbanking newcomers, such as Google and Facebook, have IT at the core of their business propositionalready, something that regulators are realising the banks need.
But how feasible is it for banks to actually do what Bailey describes as
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