The Future of Financial Services

October 2004
Bank Technology News;Oct2004 Supplement, Vol. 17, p4
Trade Publication
This article presents views of Frank W. Schlier, vice president and distinguished analyst, Gartner Inc., on the future of financial services industry. Technology plays an important role in the expansion and competition faced by financial markets. The two biggest obstructions to strategic change are organizational culture and existing information systems. Technology-enabled improvements and a desire to improve earnings stability have led many banks to enter new markets, driving increased competition in local markets. This, combined with a growing appetite for customization and personalization, is driving the need to constantly transform applications and offerings to meet new competition and changing customer preferences, expectations, and needs.


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