Monday, May 12, 2008

No Bank is an Island- get global before globalisation get you

Today’s performance woes, combined with the quest for sustainable growth, are pushing
banks beyond geographic and product centric boundaries.

Globalization is the single greatest opportunity – and yet also the greatest threat – facing the industry today. Over 40 percent of 644 bankers around the world cite expansion to global markets as their single biggest growth opportunity. Shifts in customer trends and new collaboration strategies will spell new prospects, particularly for those with a clear strategy to act promptly and decisively. However, this path is not without its challenges. With global interdependencies on the rise, many banks are struggling to deal with a credit crisis gone global and with aggressive new competitors.

In the IBM survey (url attached), conducted in cooperation with Economist
Intelligence Unit, the effects of globalization on the retail banking industry is examined.

Download full report

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