Significant cost savings, as well as increased revenues, can be achieved by modernizing structures, reorganizing production processes and developing innovative distribution networks. Other banking systems have invested a substantial volume of resources, deriving in part from savings in staff costs, in technological innovation, thereby acquiring competitive advantages on several fronts.
But this does represent a large task since it concerns all public and private legal acts, administrations, companies and households. Much responsibility therefore rests with the national administrations of the Member States.