The Future of Banking: A Survey

The paper examines the prospects for banking. After a brief appraisal of the knowledge available at the time of the Wallis Inquiry in 1997, attention is directed to issues associated with asymmetric information and then technology. The former explains predominant influences in banking while the second is devoted to exploring what technological innovation is about and what this means for business operations. Attention then turns to the various functions which can be used to explain and define what banks are about. Most recent empirical evidence is assessed to establish the latest results about banking business. These are then used in conjunction with information and technology to derive a series of themes about future prospects.