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Banking in 2010

Banking in 2010

Source: SAP, Economist Intelligence Unit

Nearly 600 global senior level banking and insurance executives agree that technology-led innovation and changing customer needs will lead them to rethink the way they do business between now and 2010, according to this SAP-sponsored study by the Economist Intelligence Unit (EIU).

Based on a survey of 577 senior executives in the financial services industry from 23 countries in Europe, the Americas and Asia Pacific, the results indicate that the ability to adapt business models will become a significant source of competitive advantage in the banking and insurance industry in the years ahead.

More than 60% of executives say new business models are increasingly critical to competitive advantage, while approximately 84% believe that technology will be crucial to their firms' ability to adapt and implement new strategies.

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