Banks continue to have difficulty harnessing Web 2.0 and the possibilities it represents. A simple term created in a technology conference brainstorming session in 2004 by Internet pioneers Dale Dougherty and Tim O’Reilly, Web 2.0 has become a catch-all phrase for anything new on the Internet, or any new technology innovation...

Banking in the U.K has been greatly impacted, in recent times, by the winds of change. Still struggling to find its bearings in the aftermath of the recent recession, banks in the U.K have been compelled to rethink their approach to business, in response to customer communities’ changing attitude to banking. The transformation has spanned several dimensions.