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WorldPosted at: Nov 25 2016 4:37PM


Digital the future for French banks says central bank boss

PARIS, Nov 25 (Reuters) French banks must embrace new technologies to adapt their services and keep down costs to cope with the impact of low interest rates on revenues, the country's central bank said.
Low-cost internet competitors and a drop in the numbers of clients coming into their branches, which hurts profits and forces closures, have already forced French lenders to boost their online and mobile-based operations.
"In terms of revenue, one of the answers ... could be diversification of services ..., as well as possibly adapting their pricing," central bank governor Francois Villeroy de Galhau told a conference in Paris on Friday.
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