Bank Revolution

Author: [British] Carrington
Publisher:
Publish Date: 2003-10-01
Features: The pace of technological progress cannot stop, and the revolution in banking is irreversible. For financial institutions, the future is unpredictable. As the entire industry attempts to profit from technological innovation, winners and losers will continue to emerge. The wave of financial information technology innovation will be like a double-edged sword: on one hand, it provides many new opportunities to increase services, revenue sources, and reduce costs; on the other hand, it will drive unpredictable changes in consumer behavior, eliminate industry entry barriers, and attract many new, unimpeded competitors. The dilemma faced by established banks is: whether to use information technology to improve profitability or to face increasingly fierce competition as new entrants increase and further innovation occurs? In the book The Bank Revolution, the author explains how new rules and technologies are transforming banking. Focusing on British retail banking, they examine the role technology will play in the future and the challenges it will create, as well as how banks and suppliers can use information technology to maintain shareholder value. This book helps senior executives in financial institutions adopt a strategic approach to information technology investment and effectively utilize technology resources to achieve true product or service differentiation, thereby gaining a genuine competitive advantage in this rapidly changing industry. It also helps technology suppliers understand their evolving role and establish more adaptive business relationships with financial institutions. Finally, scholars, analysts, and all individuals interested in this industry will gain a comprehensive, thorough, and insightful understanding of the dramatic changes occurring in the financial services sector through this book. It will provide financial institutions facing financial innovation with a strong framework to manage the relationship between technology and profitability.