Efficiency comes from savings in personnel and time, streamlined and automated process flows, from less errors, from economies of scale and from lower processing costs per unit. Banks have created new sources of income by offering more sophisticated products which would not have been possible without the use of ICT. The whole banking landscape is changing.
It is going to be of the utmost interest to hear Bob DeYoung's presentation on what the implications of these changes to the industry are, and how far this evolution can go. A modern, networked economy also requires financial institutions to review their way of carrying out their business with their customers in order to produce added value.