Italian banks face long, uphill road to modernisation

Bailed-out Monte dei Paschi, the world's oldest bank and a bastion of tradition dating back to 1472, has entered the realms of virtual reality.After surviving the worst of a bad loans crisis, Italian banks face another daunting mission: modernising centuries-old businesses and finding new ways to make money.Monte dei Paschi's online arm last week launched virtual reality (VR) branches, accessed via phone app and VR headset, and said 3,500 customers had signed up in the first few hours.