The idea that financial services will be completely different "after" - the recession, the crisis, the fall of banking as we know it - is oft repeated. "Already the industry has changed fundamentally, and forever," says Tom Warsop, financial services group president at Fiserv.

"After" surely will involve more of some things, like regulations and risk management. For many banks it will involve a return to banking fundamentals - you know, underwriting standards, profits based on spread and not fees, holding loans on the books.

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