- Thousands of bank branches have closed in the past decade, and Mr Jenkins expects thousands more to follow in the next 10 years Credit: Cavendish Press
- W hile keeping up with the latest technology, banks will still be hampered by aging computer systems, he fears.
- Ex-chief Antony Jenkins said half of bank branches – and half of banking jobs – could get the chop over the next decade Credit: STEFAN WERMUTH/REUTERS
- Y et in 10 to 20 years’ time, he believes the need for banks to perform the function might no longer exist – already some investors are sidestepping banks by using websites to match borrowers and savers directly.
- Mr Jenkins’ time in charge of Barclays, from 2012 to 2015, was dominated by his efforts to reform the bank’s culture in the wake of the Libor manipulation scandal.
Read the full article, click here.
@Cryptosparks: “Core of #banking could be destroyed by blockchain, says Barclays’ former boss”
New technology such as artificial intelligence and blockchain will utterly shake up the fundamental principles of banking, challenging the entire industry according to former Barclays chief Antony Jenkins.
Core of banking could be destroyed by blockchain, says Barclays’ former boss