Customer

Listening to a talk about the music industry yesterday.

The quote to remember - "When you have come to think of your customers as the enemy then you know its not going to end well."

In the example, the music industry resisted online downloading and tried to stop it rather than recognizing it as a great opportunity. They got court out by thinking that they controlled the distribution channels. The technology created new possibilities that they failed to anticipate. This is not usual. Most new Technologies do this to some extent.


Does this apply to financial services also? Perhaps in a slightly different way. Certainly it feels like banks use there position to control what customers can do and they change things in quiet a disrespectful way. Will it change? will technology come the rescue of the ordinary bank customer? Will the any new players end up like the old ones, corrupted by money and laziness?