Banks have also been investing and recruiting heavily in compliance to meet new regulatory requirements. 14. Another offshoot of the stricter enforcement of regulations, is the increasing business and growth of non-banking financial institutions, the shadow banks that are not subjected to the same degree of intense regulation; they are offering competing services to bank clients, establishing specific funds or offering private equity. 15.
Thus you will all readily agree that these three trends have clearly redefined banking and banks. Banking and banks – redefinition 16. I also said these emerging trends are endangering banks’ existence. Am I echoing Bill Gates? 17. From the time the concept of money was understood, the concepts of lending and borrowing came into existence. But the concept of banking wasn’t there.