Stumbling Giants
Transforming Canada's Banks for the Information Age
By Patricia Meredith, James L. Darroch | Publisher: University of Toronto Press
About the book
Canada's big six banks weathered the 2008 financial crisis very well. Their adherence to tried and tested twentieth-century products and services made them a safe harbour in the financial storm. However, as the modern global information economy continues to develop, the banks must confront their innovation crisis, or they will fail. In Stumbling Giants, Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada's big banks. With banks earning forty percent return on equity from traditional retail banking, pressure from investors with short term interests has discouraged technological innovation and adaptation. Meredith and Darroch reveal the socio-technological disruptors threatening the banks' three primary product divisions - lending, wealth management, and payments - and offer innovative yet realistic recommendations for improvement. Meredith and Darroch's new vision for the Canadian banking industry involves a broad cross-section of Canadians - policy makers, regulators, customers, suppliers, investors, and bankers - and is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century.
Editions of Stumbling Giants
- Hardcover
- ISBN 9781442649514
- EBook
- ISBN 9781442620445
- PDF
- ISBN 9781442620438
Read an Excerpt
Canada's big six banks weathered the 2008 financial crisis very well. Their adherence to tried and tested twentieth-century products and services made them a safe harbour in the financial storm. However, as the modern global information economy continues to develop, the banks must confront their innovation crisis, or they will fail. In Stumbling Giants, Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada's big banks. With banks earning forty percent return on equity from traditional retail banking, pressure from investors with short term interests has discouraged technological innovation and adaptation. Meredith and Darroch reveal the socio-technological disruptors threatening the banks' three primary product divisions - lending, wealth management, and payments - and offer innovative yet realistic recommendations for improvement. Meredith and Darroch's new vision for the Canadian banking industry involves a broad cross-section of Canadians - policy makers, regulators, customers, suppliers, investors, and bankers - and is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century.
Frequently Asked Questions
What is Stumbling Giants about?
Canada's big six banks weathered the 2008 financial crisis very well. Their adherence to tried and tested twentieth-century products and services made them a safe harbour in the financial storm. However, as the modern global information economy continues to develop, the banks must confront their innovation crisis, or they will fail. In Stumbling Giants, Patricia Meredith and James L. Darroch embark on an audacious and startling examination of Canada's big banks. With banks earning forty percent return on equity from traditional retail banking, pressure from investors with short term interests has discouraged technological innovation and adaptation. Meredith and Darroch reveal the socio-technological disruptors threatening the banks' three primary product divisions - lending, wealth management, and payments - and offer innovative yet realistic recommendations for improvement. Meredith and Darroch's new vision for the Canadian banking industry involves a broad cross-section of Canadians - policy makers, regulators, customers, suppliers, investors, and bankers - and is a call to action for all interested stakeholders to work together in creating a banking system for the twenty-first century.
What core themes, tropes, or subjects are explored in Stumbling Giants?
Economics, Finance, Business and Management > Business and Management
Where can I read a sample of Stumbling Giants?
You can read an official preview of the few pages here https://www.book2look.com/book/9781442649514
Who is/are the Author/s of the book Stumbling Giants?
Patricia Meredith, James L. Darroch
What are the ISBN numbers for the physical and digital editions?
Stumbling Giants is available as hardcover(ISBN 9781442649514) and ebook(ISBN 9781442620445) and pdf(ISBN 9781442620438)
Where can I buy Stumbling Giants online or support local independent bookshops?
You can buy Stumbling Giants from below
Where can I buy Stumbling Giants?