Bye Bye Banks?

Bye Bye Banks?

How Retail Banks Are Being Displaced, Diminished and Disintermediated by Tech Startups and What They Can Do to Survive

James Haycock, Shane Richmond

In 1997, Jeff Bezos, told investors that Amazon was focused on the long term. He said: ‘If you’re long-term orientated, customer and shareholder interests are aligned. In the short term, that’s not always correct.’ In other words, when companies make decisions based on the next quarter’s results, they are prioritising share price and not value to the customer which may lead to the right outcome for one important stakeholder but potentially a negative one for an ultimately more important group.

Link · 5. INTRODUCING A BETA BANK: