While we remain technology neutral, we require banks to seamlessly integrate whatever technology they choose, with their CBS architecture.   As a philosophy, we have always encouraged banks to pursue FI as a commercial activity and to not view it as social service or charity.
A similar thing happened on the lending side: after the initial reconfiguration of interest rates that occurred in the early 1990s, competition over the subsequent decade put substantial downward pressure on most lending rates relative to wholesale funding costs. The result of all this is that the major banks’ net interest margins in the period since deregulation have been trending downwards (Graph 3).