THINK LOCAL, ACT LOCAL
A Better Business Model for Retail Banking
In a sense, the history of banking around the world has always been about communities. Like-minded groups of people have always congregated in geographic enclaves to advance their common interests, with complementary skills and talents building to a common good, and with recognised financial stakes considered for all community members. In various parts of the world, specialised financial institutions (and industries, indeed) have evolved from these sorts of endeavours.
Great cities grew up around this approach, and spawned companies that demanded more products and services from those financial institutions, creating tremendous growth that created large, then huge and then mega-banks. As banks grew ever larger, in some ways they sparked a sort of mitosis of those exploding organisations, spewing divisions-cum-companies that demanded separate and extremely focused financial resources and management attention. Overall though, the community banking experience in the United States has been unique and extremely differentiated.
Director of Councils and Client Relations
Phone: +353 (0) 87 173 6297