The financial services industry is at an historic crossroads. Faced with a credit crisis, wild fluctuation in equities and the failure of several leading competitors, financial institutions find themselves in one of the most challenging environments imaginable. In addition to these and other near-term challenges, the industry continues to grapple with globalization, the emergence of new geographic markets, a shifting regulatory environment, and a seemingly-constant wave of consolidation — all of which are defining a new set of strategic imperatives and a market landscape in which competitors must revisit traditional business models and assumptions. In order to survive and thrive in the times ahead, financial institutions must find and capitalize on new market opportunities and revenue streams, while finding innovative ways to do so as cost-effectively as possible.
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