Current Challenges Of Industry

My bea of interest is finance with special interest in banking . I will therefore highlight and discuss the topical challenges in banking sectorFirstly , as competition among banks grows speedily , there is a challenge of keeping the initial customers and maintaining a high inflow of new customers for a bank to live . There is a need to provide a customized , exist effective and super friendly service to customerssecondly , banking sectors needs adequate funding to be able to function as expected , the current humanity recession has affected many banks in which many are now laying off their staffs to be able to maintain some money to run the banks since their is a minimum essence a bank must posses before it will be allowed to continue functioningThirdly , banks are facing the challenge of adapting to the present sophisticate technology .

although there are many benefit accrue to the introduction of technology which includes fast customer services decline of stress as customer can now social function information technology to do banking services , however , the challenges includes the cost of setting such new technology , integration of the exist system into the new ones and there are many certification issues on the innovative technologyMoreover , pecuniary banks are know for heavy(a) loans and ascribe to both companies and individuals . One of the challenges faced by these financial banks is the reduced ability of their customer to pay up their loans and credits due to the current financial setback and recession thereby reducing the cash...If you want to get a full essay, regulate it on our website: Orderessay

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