Retail banking in many ways has been at the forefront of innovation with hole in the wall cash machines, telephone, then internet, then mobile banking, secure payments, we could go on. However they are also running the new appearance on some very old and not fit for purpose IT systems. How have they survived FTSE / S&P churn and will they survive going into the future?
If we look at the FTSE 100 companies we are left to ponder an interesting fact: only 24% of them survive since the FTSE was founded in 1984. This general deterioration in length of survival as a FTSE firm is also consistent with the findings for the S&P indexfrom the same year.