Banking facing 'Uber moment', says former Barclays boss

Antony Jenkins says technological advances could lead to half the number of branches and employees

Banking is reaching its "Uber moment" as technological advances will lead to hundreds of branch closures and a possible halving of people employed in the sector, the former chief executive of Barclays has warned.

In a speech reported by Reuters, Antony Jenkins described technology as an "unstoppable force" that would lead to better customer service and a wave of new banks becoming household names.