Does it make sense then to require them to change their system to be compatible with the standardized approach, resulting in some costs, when the benefits may be minimal? One possible solution may be to think of the current system as one of the simpler regimes for noncomplex banks--that is, simpler than the new Basel options.
The industry structure and business models also changed. Telecom operators had to choose between becoming pure infrastructure providers or to widen their service offerings. Regardless of how each company chose, the industry consolidated. Companies were bought and merged, and there was a surge of investments. Occasionally investments resulted in failures: for instance, some technologies turned out to be victims of hype.