One bank in the UK, NatWest has a mobile banking service based on a small fleet of vans – this provides personal service to customers and areas not serviced by physical bank branches.
Why copy models that are dying?
Why is the Indian government (and others) seeking to follow a model which much of the developed world knows does not work? With the likes of low cost tables and mobile phones costing just a few dollars. it will be cheaper for banks to include a phone as part of the banking deal, if in association with a vehicle based branch for small regions. The worlds cheapest mobile phone currently costs £1, that is less than $2! e these banking solutions need not be expensive and can also be inclusive for communities.
It’s time for change at an international level
When any organisation or country looks to solve a problem, it bust avoid “bench-marking” what others do as the “main plan”, for this is a risk adverse solution, and often not really sustainable. What many of us seem to forget is that many of the systems in the West were developed over 10s if not 100s of years, and look at how they are changing post the banking crisis of the late naughties. So why copy things that just no longer fit in a modern world? Leadership and innovation at national and international levels needs to change. Copying solutions from organisations and countries that were developed for an older age is no longer appropriate
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