The information technology industry plays a unique role in helping companies conduct their businesses in the modern era. Industry participants must be highly competitive to provide the latest technological advances. It provides value to customers by embracing new trends, such as cloud computing, virtualization, and mobile application solutions to keep their customers ahead of the competition. It must also be sensitive to changing customer needs and be driven by new business opportunities as they emerge. Although the industry is continually challenged by intense competition, cost pressures, emerging markets, and security threats, industry players provide solutions through innovation, outsourcing, and strategic mergers and acquisitions to enhance their businesses, while improving the way people access and use information throughout their professional and personal lives.
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The banking industry is a vital component to individual, business, national, and global financial well-being. This industry builds and maintains financial relationships with customers of all sizes to supply financial products and services that stimulates economic growth. The industry players produce an assortment of services from savings accounts to home and business loans and mortgages, and from check cashing to underwriting. This industry is sensitive to regulatory, technological, and economic factors and has its own share of challenges largely stemming from these factors. With emerging markets changing the landscape of global economic wealth and new generations of customers demanding faster and more innovative products, the industry players adopt unique strategies to overcome these challenges and move forward to deliver financial objectives to people and organizations.
This course is designed to help learners understand key concepts, terminology, issues, and challenges associated with the banking industry, and strategies employed to meet some of those challenges. It identifies the main sectors of the banking industry and its business drivers, and reviews the key aspects of the industry business model, its competitive environment and the current trends in the industry. Finally, this course outlines some key challenges that this industry is facing and presents common strategies that the players in the industry are adopting to overcome its challenges.