4 The recent crisis is no exception, and  1  See Janet Yellen (2015), “Normalizing Monetary Policy: Prospects and Perspectives,” speech delivered at “The New Normal Monetary Policy,” a research conference sponsored by the Federal Reserve Bank of San Francisco, San Francisco, March 27.
For this, banks need to have a proper business plan and delivery model that would harness the benefits of technology. This would help in planning product delivery and building lasting customer relationships which will translate into higher revenues. The costs of banking transactions need to be dramatically reduced just as in so many other fields such as telecom, after the advent of technology.