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It's back to the strategy drawing board for banks

Those that move quickly to define clear strategic paths and priorities will be able to control their destiny.

Commonwealth Bank of Australia's vision shapes how it designs its propositions around the customer perspective - for example, designing an entire episode of "buying a home" rather than just "selling a mortgage".

FOR many years, corporate strategy languished in banking circles. During the go-go 1990s and most of the 2000s, too many bankers pursued indiscriminate growth, had a broad appetite for risk and diversified their portfolios without worrying enough about controlling costs or staking out