el mundo es

This article is about the change. About a change that, or not going to happen. Resistance is one of the key players.
Spain is changing rapidly and so is Spain on the bench. What's more competition due to the arrival of internet banking some years ago (Inter). But so far, competition has been dominated by local banks. Think what it was fifteen years ago:
".. The banks in this country used to collect each month around a dish well served to unite to renew their strategies and their secret pact. First «Â command: not to steal customers from his friend. Second: not to raise interest rates Previous inadvertently. Third, not to launch their products without telling competition … Â Someone mentioned the competition? That was exactly what did not exist in the sector banking. "
This is a piece of dialogue from an interview with El Mundo and the chairmen of the two largest banks in Spain in 1996 – Ybarra, the "cricket" Botin of Santander and the Basque (BBVA) "ant" – (elmundo.es/papel/hemeroteca/1996/12/09/economia/188863. html).
As said, it was fifteen years.
But after the introduction of the Internet, new trends of globalization seems to add more and new competition.
ING (Direct) has introduced a new campaign and the offense called "fresh banking. Fresh banking refers to an approach which – among other things, like greater transparency – are removed from the traditional commission. This is already a best practice in the Netherlands – where the head office of ING – but so far no-do " in Spain, where a single transfer to another account at the same bank will cost one euro. Without exception.
Having experienced this you can thinking, and this could provoke a new revolution only competition in the Spanish banking sector.
Maybe it will.
But – the banking and not only investment banking – is not without risks.
Sponsors ING recently joined the team covering Formula Renault. Renault, however, is no longer the favorite Spanish as Fernando Alonso switched to McLaren this year. McLaren is also sponsored by Santander, the largest bank in Spain.
Of Thus, ING has expanded its presence in Spain, because the F1 is football as one of the most favorite sports. It is however very likely that Renault will win F1 this year, as Fernando is the favorite at the moment and the Renault drivers are not among the favorites.
Like the F1 race this year, can only speculate about the final result () on the bench this () game, that – as in the eighties – Spanish banks will meet again on a monthly basis, to align their common strategy against such alien intruder?
 © 2007 Hans Bool
Hans Bool writes articles about management, culture and change. If you are interested to read or experience more about these topics have a look at our site Astor White and or sign-up for our newsletter.
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