Bank cartel sharpens its claws

Intelligent Investor

Independent Financial Research

Bank cartel sharpens its claws. The finance sector is awash with talk of 'disruption', whereby small, nimble players take on inefficient, rent-seeking incumbents through the clever use of technology. Uber is taking on the taxi industry, a rent seeking incumbent like no other; Airbnb is trying to do to accommodation what Amazon has done to books; and of course Seek, carsales.com and realestate.com.au disrupted classifieds long before disruption was a 'thing'. There's huge scope for cataclysmic change in banking, which relies on decades-old technology, archaic work practices and incessant political lobbying for its record breaking profitability. The banking cartel is well aware of the threat, and playing a clever hand in resisting it. Three recent examples reveal how. (VIEW LINK)


Intelligent Investor
Independent Financial Research

Intelligent Investor is an independent financial research service with a 14-year history of beating the market. Our value investing approach empowers Australians to make more informed decisions to build their long-term wealth. We off structural...

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