Supermarkets underestimating problems of breaking into the banking market?

How about bankers underestimating Supermarkets?
Today's contributors to the traditional banking backlash against supermarkets might consider the following:

• Major multiples don't do 'underestimating problems'
• Shopkeepers operate in an output-focused, numbers-based, 'no-nonsence', customer-orientated environment
• They aim at sharing cost-savings and value with repeat-visit, life-time-value shoppers
  Their loyalty schemes give them more usable customer-insight than a bank would be trusted to handle
• They constantly strive to enrich the shopping experience
• They operate systems that can turn 50,000 lines 25 times a year, with 95+% onshelf availability
• They play the money markets with daily takings and 30+ day's credit from suppliers, some earning upwards of £200m per annum in the process
• They start with a gross margin of 25% and still make 5% net
• They come with none of the traditional banker 'trust-baggage'
• They are fully staffed during the 'lunch-hour'……

Traditional banks don't seem to appreciate that the game has changed, changed utterly…underestimating the threat posed by new players that learn fast, and don't take prisoners…..!