It's got to be significant enough and advantaged enough that it would make a meaningful difference. |
Look at Starbucks. If I were [Starbucks CEO] Howard Schultz, I'd be wondering about how to put a bank in my store. |
Retail banking is a distribution game. The models for best practices in distribution are companies like Wal-Mart and the niche retailers. |
The entrenched providers today will have to shut and write off that infrastructure as you have the transition from analog to digital. Current entrants in the market have a disconnect in their cost bases that new entrants don't have. |
The U.S. banks are significantly more profitable than the European banks. |
The whole industry decided it needed some level of diversification. The question is: Has anybody made that work? |