A global report prepared by PricewaterhouseCoopers, 'Retail Banking 2020: Evolution or Revolution', has found 55 per cent of senior retail bank executives believed non-traditional new players were a threat, while 31 per cent believed they could become partners.The report predicted the following could happen by 2020: Branch networks would decline as technology enabled every aspect of banking to go online, and as cash usage falls away, traditional branches are no longer necessary. Given their high-fixed cost, branches would need to become far more productive, or much less costly. A bank's target market and competitive arena would no longer be defined by its physical footprint, but by its technology, regulatory boundaries and marketing budget. New entrants would no longer have their pace of expansion constrained by the availability of acquisition targets or prime retail locations. The findings were based on a survey of 560 financial services executives in 17 countries. It also included work from PwC's network and its 'Project Blue' work on the future of financial services. The report found 54 per cent of executives believed big banks would retain their dominance by 2020, despite the rise of new players. PwC also reported more than 70 per cent of Asia Pacific and emerging market bankers were the most likely to consider how global trends such as economic growth, regulation, demographic growth and technology changes would affect the industry by 2020. This differed markedly with bankers in America and Europe on 61 per cent and 67 per cent respectively. "These global findings reinforce the point that our banks are continuing to head in the right direction," said Sam Shuttleworth, a PwC partner and the firm's banking and capital markets leader in New Zealand."The New Zealand banks have reinforced their stability and soundness in the post GFC environment with controlled growth, which leaves them well placed relative to global counterparts in the years ahead. "This reiterates some of the strategies the New Zealand banks have focused on for some time are in the right areas, such as invigorating the entire customer experience, be it through branches or digital channels, and embracing innovation and technology to deliver better services and outcomes."Shuttleworth's Australian colleagues were not available for comment.