Stumbling Giants

Transforming Canada's Banks for the Information Age

Business & Finance, Management & Leadership, Planning & Forecasting, Finance & Investing, Finance
Cover of the book Stumbling Giants by Patricia Meredith, James L. Darroch, University of Toronto Press, Scholarly Publishing Division
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Author: Patricia Meredith, James L. Darroch ISBN: 9781442620445
Publisher: University of Toronto Press, Scholarly Publishing Division Publication: October 31, 2017
Imprint: Rotman-UTP Publishing Language: English
Author: Patricia Meredith, James L. Darroch
ISBN: 9781442620445
Publisher: University of Toronto Press, Scholarly Publishing Division
Publication: October 31, 2017
Imprint: Rotman-UTP Publishing
Language: English

Winner of the 2018 Donner Prize for the Best Public Policy Book by Canadian authors, Stumbling Giants by Patricia Meredith and James L. Darroch presents a compelling new vision of the Canadian banking industry in which stakeholders work together to propel the country’s banking system into the twenty-first century.

Canada’s big six banks survived the 2008 financial crisis by adhering to traditional banking practices, which made them a safe harbour amidst the turmoil. With banks earning 40 per cent return on equity from practices such as in-person retail banking, pressure from investors with short-term interests continues to discourage technological innovation and adaptation.

However, today’s global information economy has transformed the financial lives of individuals and companies alike. Meredith and Darroch argue that Canadian banks refuse to address the disruptive info-tech changes that ultimately threaten their very existence. The authors also set forth a cohesive set of recommendations to prepare the nation’s banks for the challenges and opportunities offered by the digital age.

This call to action for the Canadian banking will resonate with financial sector managers, policy makers, and, above all, general readers.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Winner of the 2018 Donner Prize for the Best Public Policy Book by Canadian authors, Stumbling Giants by Patricia Meredith and James L. Darroch presents a compelling new vision of the Canadian banking industry in which stakeholders work together to propel the country’s banking system into the twenty-first century.

Canada’s big six banks survived the 2008 financial crisis by adhering to traditional banking practices, which made them a safe harbour amidst the turmoil. With banks earning 40 per cent return on equity from practices such as in-person retail banking, pressure from investors with short-term interests continues to discourage technological innovation and adaptation.

However, today’s global information economy has transformed the financial lives of individuals and companies alike. Meredith and Darroch argue that Canadian banks refuse to address the disruptive info-tech changes that ultimately threaten their very existence. The authors also set forth a cohesive set of recommendations to prepare the nation’s banks for the challenges and opportunities offered by the digital age.

This call to action for the Canadian banking will resonate with financial sector managers, policy makers, and, above all, general readers.

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