Banking Innovation Quotes

The only thing useful banks have invented in 20 years is the ATM.

Machines can do things cheaper and better. We're very used to that in banking, for example. ATM machines are better than tellers if you want a simple transaction. They're faster, they're less trouble, they're more reliable, so they put tellers out of work.

If I have to tell you what was and is my mission, I think UBS can be the Apple or IBM of the banking industry: companies that went from being admired to severe difficulties and to being back stronger than before.

Even if it does not become cashless economy, it will become a less cash economy, and I think that itself is going to be a good and big achievement, and I think we are, as a country, gone through many of large changes, and ICICI has been a leader in many of them.

I want the best people, not just on the banking side but on innovation and technology.

If we want to be the banker to every Indian as we want to be, then we will have to use technology.

I use my interaction with both my kids to know how the youth today relates to technology, their expectations in terms of mobility and social solutions by customer services-oriented businesses like banking.

Traditional consumer banking will come under extreme pressure as its central deposit-taking and lending functions are challenged by online savings vehicles, crowdfunding, and loan syndicating by such nontraditional competitors as insurance companies, pension and hedge funds.

I keep wondering at night, 'Will I have a bank the next morning, or will some technology company be doing banking without needing a bank?'

Banks introduced the installment plan. The disappearance of cash and the coming of the credit card changed the shape of life in the United States.

Amadeo Peter Giannini, who founded the Bank of America, had the wild idea that you should lend money to people who needed it rather than just to the rich.

When we in our sector talk of the adoption of Indian consumers to new products and innovative ways of doing banking, they always exceed our expectations.