Role of Information Technology in the Globalized Banking Sector

Abstract

The global banking system has gone through many transformations in the last several decades. There have been dramatic regulatory changes considerable advances in information and banking technologies, the widespread dominance and acceptance of the market economy by less open economies, and the increase and integration of international financial markets and institutions have create new opportunities and challenges for international banking institutions. While these transformations have provided an expanded opportunity set for banks, they have intensified the completive pressure in the global banking arena as well.