Page 35 - TSB G Case Study

Competitive Banking Sector: (2)
The first cycle lead simply to increased merger and

acquisition activity that resulted in homogeneity within

the industry.

The second cycle lacked a clear set of legislative or
regulatory tools and most of the online start-ups either

failed or were acquired by incumbents, thus sustaining
what increasingly appeared to be a retail banking mono-

culture; and insufficient competition remained the official

verdict on the sector. (2)