Is There Any Real Retail Banking Innovation?

Brett King from has put together an infographic for the Huffington Post to demonstrate how banks are innovating… or not. Brett thinks they need to do something about it:

Let’s just put it this way, banks are not known for their innovation. But they better start learning, and fast…

Bank Innovation

The graphic shows that mobile banking began 12 years ago, yet it is only starting to catch on now thanks to the better technology we have available.

And you only have to look at the top finance apps being downloaded for the iPhone to see the lack of banks making use of this particular platform – Natwest and RBS are there, as they have popular iPhone apps for their customers (it’s effectively the same app, as both banks are part of the same banking group), but there are no other banks in the top apps.

Bank2.0 book cover

As an aside, Brett has written an interesting looking book, Bank2.0, which looks like it will be worth a read when it is released, so I’m off to order a copy at Amazon.


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