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Alan McIntyre

Bank Fees are Getting Squeezed in the Face of Regulation and New Competitors, Putting 5% of Revenues at Risk, Accenture Report Finds

Eliminating fees, increasing transparency and helping customers make good financial decisions could stem losses and help banks increase revenues Incumbent banks are at risk of losing billions of dollars in retail revenues in the next three to five years, as new competitors draw customers with no-fee banking services and regulators in select markets mandate simple banking fee structures to protect consumers, according to a new report from Accenture . The report, titled “Purpose-Driven Banking: Can Trust Create Win-Win…