The past decades and even centuries have witnessed much banking innovation. Consider pneumatic capsule transportation (1799), the credit card (1950), and the ATM (1967).
Those innovations were external—easily visible to everyone. But there is also a history of innovation that’s internal to the industry, with bellwether changes to banking sales management and its increasing focus on the customer.
Over time, we went from standard bankers to “personal bankers.” For the affluent, there were
“private bankers.”
Personal bankers could open deposit accounts, but then universal bankers started to make personal loans and mortgages.
Continue Reading