'we want to own the customer; it's our customer, not their customer' and we need to be open to different models on that interaction,"
... banks current model is they 'own' the customer ... like a farmer owns cattle for milking or sheep for shearing.
Is it any wonder they are such hated institutions? This is at the core of their business model ... this bit wasn't lost on me either
"Financial services, to a certain extent, is in a fortunate position in that increased regulation is somewhat closing the system, so it's hard to be totally open," Frazis said.
Regulatory capture appears to be rife ...
