This means that financial institutions must have research facilities to keep them up to date with international developments, they must have access to global markets and they must have products that can be marketed internationally. For many South African institutions, this implies a complete change in culture and in the behaviour of their staff, and probably also a realignment of their organisational structures.
Financial institutions in a global environment will, in particular, rely heavily on information to target potential clients, assess their needs and objectives, manage their portfolios, construct investment strategies and allocate assets. In this regard the Internet has emerged as a key competitive arena for the future of financial services.