Antony Jenkins Warns of Obsolescence for Banks

The transcript discusses the potential transformation in the banking industry, likening it to Uber's impact on taxis. It highlights the role of technology in simplifying banking, despite adding complexity and cost. Current trends like mobile banking and contactless payments are reducing traditional banking methods. The concept of a 'Kodak moment' is introduced, where technology makes existing methods obsolete, as seen with digital photography. Such transformations are expected in the next 5 to 15 years.

What is the expected timeline for a significant transformation in the banking industry, similar to what Uber did for taxis?

• Immediately

• 20 to 30 years

• 5 to 15 years

• 1 to 3 years

How has mobile banking affected traditional bank branch traffic?

• Increased by 10%

• No change

• Decreased by 40%

• Increased by 40%

What is an 'Uber moment' in the context of the banking industry?

• A rise in ATM usage

• A decline in online banking

• A new technology that enhances customer experience

• A sudden increase in bank fees

What does a 'Kodak moment' signify in the context of industry transformation?

• A complete shift to a new way of doing things

• A temporary setback

• An increase in traditional methods

• A minor technological update

Which company is used as an example of failing to adapt to technological changes?

• Kodak

• BlackBerry

• Blockbuster

• Nokia