But we think not nearly as fast as the technology vendors suggest. And not fast enough to enable banks to close branches, reduce staff and eliminate check-processing equipment at least not in this business cycle. We predict that the growth in Internet payments will continue to be slower than predicted. A bank will be able to persuade some customers to use the Internet to check balances and perhaps transfer funds between accounts. The Internet Revolution is about changing behaviors.
Bankers are amazed that customers are so slow to give up paper checks.
At the same time, banks use more paper in the back office than ever before. The Internet presents us with a number of opportunities to work better, smarter, and more efficiently. All we have to do is change our behavior the way we think about information, and the way our organizations capture and distribute information. Companies have a tendency to throw technology at people problems, but installing new software cannot bring about mass behavior change. It requires a change of culture, a change of individual work habits, and a change in the way our organizations are structured.