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Stumbling giants : transforming Canada's banks for the information age / Patricia Meredith and James L. Darroch.

by Meredith, Patricia, 1955-

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University of Toronto Press, 2017.

332.120971 M559s

Banks and banking -- Technological innovations -- Canada.

Financial services industry -- Technological innovations -- Canada.

Bank management -- Canada.

9781442649514 (hc.)

xiv, 236 p. : ill. ; 23 cm.

Includes bibliographical references (pages 225-226) and index.

The banks lose their way -- From branches to smartphones -- Innovation in the mortgage market -- Small and mid-sized business blues -- Where are the customers' yachts? -- Canada trails the third world -- Long live the branch -- A banking system for the twenty-first century.

"Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada{u2019}s big banks. With banks earning forty percent return on equity from traditional retail banking, pressure from investors with short term interests has discouraged technological innovation and adaptation. Meredith and Darroch reveal the socio-technological disruptors threatening the banks' three primary product divisions--lending, wealth management, and payments--and offer innovative yet realistic recommendations for improvement. Meredith and Darroch{u2019}s new vision for the Canadian banking industry involves a broad cross-section of Canadians--policy makers, regulators, customers, suppliers, investors, and bankers--and is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century."--From publisher.

Darroch, James L. (James Lionel), 1951-

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