Corporate banks 'will change to meet consumer needs'

Corporate banks will evolve in response to consumer needs, it has been suggested.

Speaking of the future of financial services in Britain, British Bankers' Association (BBA) assistant director of media Brian Capon claims corporate banks and others will still exist in ten years time, but admits: "Just what they will look like and the sort of service that they will be offering - I don't know."

For those using private banks, this may mean increased focus on offering overseas investment opportunities and stock market speculation, as Britons become tired of poor savings rates and low returns on traditional asset vehicles.

The BBA representative suggests online banking has been adopted by the majority of individuals who wish to do so, claiming the service has "reached a little plateau" in recent years.

A September report from eDigitalResearch and IMRG showed convenience was the most popular benefit of internet banking, with 77 per cent of respondents using the web to research finance products.

This indicates corporate banks could benefit from increasing their focus on online service delivery.  ADNFCR-2318-ID-800091576-ADNFCR