In our series about "Transformation", this first publication describes what is transformation and what are its main triggers.

Once, branches were the only channel to distribute banking services and products, but it was a very long time ago. Since then, technology has enabled the development of more channels: call centers to answer clients’ inquiries, and automated teller machines (ATMs) to automate money withdrawal. The first ATM was installed at a Barclays branch in the north of London in 1967. These new channels made branchless banks possible, and the first one was launched in the UK in 1989. Dist