CIRB 2

Director's Note

Welcome to Retail Banking Institute's Associate International Retail Banker curriculum. This is also Level II of your journey to becoming a Certified International Retail Banker.

Here we introduce you to the fascinating world of Fintech, where financial services and technology come together to transform the way that retail banking functioned only a decade ago.

In the early days of Fintech it was commonplace to hear predictions that these standalone new digital competitors would destroy traditional banks but we now know that this was a vast over-simplification. Experience has taught us that banks and Fintechs are inter-dependent and increasingly going the partnership route.

Assuming they embrace digital technology and Fintech partnerships it now seems likely that banks can survive and thrive.

Disaggregation of traditional banks will be a key determinant of success. Consumers are very different from large corporates – as are SMEs – and each needs its own bank.

Enjoy the programme!

PS: Any idea who came up with the "Fintech" expression? It was John Reed, former chairman of Citibank who revolutionised retail banking back in the eighties and nineties.

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