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Nobody understands retail banking


“We’ve arranged a society based on science and technology, in which nobody understands anything about science and technology.” Carl Sagan 2011


Prophetic words from the late Mr Sagan.


I would add nobody understands retail banking.


The dumbing down of what was a profession is almost complete. Training (where it exists) is focussed on pressing buttons on the equivalent of a production line where few (if any!) understand or appreciate the end-to-end process. That is, of course, except for the poor customer who must experience it.


I spent a few hours this week with a Bank executive over some nice wine who finally agreed the industry was lacking strategic direction and, probably, the leadership to make it happen.


Is there a solution?

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