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Description
The financial services industry has recently been open to historic transformation. So -called e- developments are emerging and advancing rapidly in all areas of financial intermediation and financial markets: e-finance, e-money, E-banking, e-brokering, e-insurance, e-exchanges, and even e-supervision. The new information technology (IT) is turning into the most important factor in the future development of banking, influencing banks ‘marketing and business strategies. The driving forces behind the rapid transformation of banks are influential changes in the economic environment: innovations in information technology, innovations in financial products, liberalization and consolidation of financial markets, deregulation of financial inter- mediation etc.
