[525]

Having technology perform many of the functions that front-office staff have traditionally done, allows banks to improve their efficiency - industrialise as you say.

However, it also allows the financial industry to become commoditiesed and lowers the barriers to entry. You only need to walk down the City of London to see the sheer number of banks form all over the world. They all compete (except when they collude) and drive down prices. Secondly, you also start seeing large corporates doing their own banking - what does a bank to that BP can't do on their own?

[branchless]

Not sure I agree. The entire UK economy has been swallowed by big banking as they ramp up house prices meaning both parents have to work all hours.

Also the idea of a level playing-field on competition doesn't exist IMHO. It's a corrupt area that needs squashing.

[collyw]

My banking charges only ever seem to go up, while the interest I earn in the bank is quite pathetic, due to the instability they have caused. We have had 7 years of "emergency low" interest rates here in Europe.