How are Recent Technology Developments Affecting Retail Banking Business

By the beginning of the 21 century, banks and thrifts have provided only 19% of the economy's credit, compared to 26% in 1990 and 40% in 1980. The increase in the role of nonblank credit is coinciding with the technological innovations that transformed the financial services industry in the last 20 years and some studies have suggested a causality effect from technology to the transformation of…

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