In a tech-led world, can a small but nimble Bendigo and Adelaide Bank pull a rabbit out of its hat with its latest strategic pivot, or does it risk losing its edge?
Often underestimated because of its lack of scale, the regional bank last week announced two major tech partnerships that could either set it up for long-term success or see it lose its distinction in the commodified world of banking.
The strategy will trigger job cuts, likely in the hundreds, as the bank enters consultation with staff. That has given the share price a short-term sugar hit.
But anyone can fire people and trim the expense line. The hard part, and the only part that matters over the long term, is whether the bank can find a new kind of meaningful, sustainable growth without them.
