The Game's Over for Banking Super Profits: What's Next for the Big Four?

Australia's big four banks may still rate highly in international terms, but they are also grappling with a multitude of changes that look set to transform the industry. With the new Basel 111 requirements posing onerous demands and a cyclical slowdown, the traditional lenders can forget about super profits and the old-style banking model. The game is over, insist industry insiders. Instead they are moving on to modes of peer-to-peer lending, the value of "big data" and learning how to schmooze customers via a digital interface. IT investment, offshore expansion, pricing and brand positioning are all in sharp focus as the banks line up for a major makeover.