Global Financial Services Industry Leverages on Improved De-risking Mechanisms ...
22.05.12
GIA announces the release of a comprehensive global outlook on the Financial Services Industry. Fast paced recovery in various segments such as banking and insurance from the recent economic meltdown is expected to drive the global market for financial services in the short to medium term period. Transaction security, operational efficiency, regulatory compliance, business continuity planning, financial re-engineering, customer service and enterprise risk management are likely to fuel market growth in the forthcoming years.
San Jose, California (PRWEB) February 14, 2012
Follow us on LinkedIn - The financial services sector is a major consumer of a wide collection of business services and products. Apart from being an economic power, the industry drives other business operations, setting standards and contributing to achievements. The industry is the focal point to other sectors of the market, as the service provides the much needed finance to further their business operations. The industry is highly susceptible to market changes and needs to adapt on a quick time basis according to the changing environment. The emergence of niche players is heating up the sector, though there has been a decrease in the number of financial institutions. The entry of non-financial organizations into the Financial Services market is fast churning the sector, upping the ante even more. Rising competition and saturating markets in the developed countries have compelled big players in the international banking industry to explore emerging markets, which are still unexploited and unexplored. Growing income amongst the middle class population and developing economic conditions are the catalysts for emerging markets to flourish in the financial sector. With the rapidly increasing internet user-base and the growing craze for social media channels, the trend of using social networking sites such as Twitter and Facebook is also fast catching up in the financial services industry.
Source: San Francisco Chronicle (press release)