Banks and technology: cure-all or snake-oil?

From: The Economist (US) | Date: October 3, 1992 | Copyright information

Technological information systems have been a huge investment for banks and the returns have not been as great as expected. Banks must learn to use the technology to their best advantage without it creating enormous expenses.

Banks rushed enthusiastically into modern technology. They have learnt that it is a costly medicine that does not always work

IMAGINE the bank of the future. The retail customer dons the glove and helmet of virtual-reality banking. Cash withdrawals require a blink, bill-paying a nod. More complicated instructions trigger a live video-link to a bank official. ...

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