Impact of globalization on the banking sector

Type :

Term papers

Pages :

6 pages

Format :

.doc

Published date :

03/24/2009

Category :

Economics & finance

Sub category :

Economics

Oboulo.com selection criteria

$ 12.95 Add to cart

Summary :

Introduction
Challenges in the banking sector
Technology infusion and up gradation challenges
The benefits vs costs
Banking and service quality
Outsourcing vs insourcing
Productivity enhancement-experience
The problem area and impact on customers
Innovation and branding the product
Conclusion
References

Abstract

globalization connotes enhanced connectivity among people across national borders. The nature and pace of globalization will depend on the combined effect of technology and the public policy, both at the national and international level. With the growing integration of economies and the markets around the world, global banking has arrived and is here to stay. globalization will get a further boost with the opening of financial services under WTO.

The process of globalization will also lead to the presence of more international players in the banking arena. Similarly, some of the banks will become global players. So the banks will perforce spread their net beyond borders in their quest for new markets, customers and profit. Against this backdrop, banks must not only prepare themselves to retain business back home, but also to capture business in hitherto unexplored markets by competing with their global counterparts. Size is not just the problem. It is felt that top international banks will enjoy lesser capital requirements on the back of their superior risk management practices. This will enable them to price their products aggressively when compared to banks.