Deregulation opened up a number of new businesses to banking, and intensified competition among banks and between banks and non-bank financial companies. Deregulation also accelerated the consolidation of the banking industry through mergers and acquisitions and set the stage for the establishment of huge banking organizations of unprecedented size and complexity.
Cost cutting continues to be a priority for banks including reduction of transaction costs, consolidation, and rationalization. Banks also are focusing on using technology to unlock differentiation, acquire new customers, and increase revenue. Large banks will continue to develop new technologies and adapt to legislative and regulatory changes, such as Basel II and Check 21.
- Equity aggregation
- Real time banking and trading systems
- Internet banking systems
- Cash management systems
- Bill payment systems
- Core data processing systems
- Electronic forms and submissions
- Business Intelligence and data warehousing applications
- Legacy migration and integration
- CRM systems