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Since I still write cheques, I tend to endorse your alternative - albeit biased - suggestion to banks for cutting costs! Standard ROI calculations might work for greenfield technologies but, for something like CBS, I think it might take novel business models
to persuade banks to take the risk of replacing their legacy CBS with an integrated suite.
<< So perception is the key - people don't mind paying as long as the charge is proportionate to the value they receive and it is considered "fair". >>
I would argue that people are not happy enough - to take the example of air fares, it's really annoying lal the extar charges that pop up along the way and what people want is the final cost (to ocmpare and decide if the flights are worth it or possible
etc). It's only when the charges are really outrageous that *some* people will complain or perhaps even do somethign like it. However, considering the "power" of facebook protests and the like, companies have to be careful about how they do this.
"Nickel and diming" is somethign that has increased over the years - although if a bank were to publish in a clear way what they charge for a certain service, than fair enough.
I think airlines went too far and started to charge for things that you couldn't actually use the service without - so they were bound to fail the "fairness" test!
Technology Product Director
29 Nov 2010
This post is from a series of posts in the group:
A community for discussing technology trends, views and perspective in global transaction banking
09 Jul 2020
04 Apr 2020
13 Mar 2020