• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Bimonthly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Executive Editor: Ms. Cherry L. Chen
    • Abstracting/ Indexing:  ProQuest, Crossref, Electronic Journals Library , EBSCO, and Ulrich's Periodicals Directory
    • E-mail: ijtef@ejournal.net
IJTEF 2015 Vol.6(2): 145-150 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2015.V6.459

The Changing Landscape of the Financial Services

Ly Hõbe
Abstract—The last global crisis, the worst economic and financial crisis since the 1930s that erupted in 2007-2008, was a groundbreaking time for the financial services sector. Banking continues to go through tremendous changes influenced by the aftermath of the economic crisis, the development of new regulations and the challenges and opportunities resulting from advances in technology. The financial crisis also had an impact on the behaviour of customers. Customers demand complex solutions through more understandable and secure products and services that match their individual needs. Their profitability is decreasing as they distribute their assets across multiple banks and even punish financial institutions through their lethargic passivity.
    This article reviews the current challenges in financial services to financial institutions. The purposes of this article are twofold. The first purpose is to provide a theoretical discussion of the most influencing changes. And, secondly, to review the main practical impacts on banks and their customers. The article highlights a number of important areas that should be kept in mind to achieve effective and efficient organisation for facing these challenges.

Index Terms—Financial services, financial regulation, management, technical advances.

Ly Hõbe is with Estonian Business School, Tallinn, Estonia (e-mail: ly.hobe@danskebank.ee).


Cite: Ly Hõbe, "The Changing Landscape of the Financial Services," International Journal of Trade, Economics and Finance vol.6, no.2, pp. 145-150, 2015.

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