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Wall Street Journal

What Does The Future Hold For Banks? More Cost Cutting, Competition

What Does The Future Hold For Banks? More Cost Cutting, Competition

  • March 21, 2018
  • min read

Wall Street Journal

What Does The Future Hold For Banks? More Cost Cutting, Competition

Consultants at Bain & Company argue that banks will get squeezed in coming years on both sides of their business. On the cost side, competition for deposits will only heat up as rates rise, low-cost entrants pile in and customers start seeking better deals.

"Banks have forgotten what battling for primacy and battling for true low-cost deposits looks like," said Joe Fielding, a partner with Bain.