Certain traditional services might also be outsourced to gain efficiency and focus on core areas as competition might not be the only rule of the game. The financial institutions might also cooperate in offering certain types of services. Presently, this is reflected in the networking of ATMs.
This co-optation is expected to become the order of the day as banks seek to enlarge their customer base and at the same time realize cost reduction and greater efficiency. Globalization With the falling barriers to capital mobility and opening up of financial services in the wake of WTO, globalization of financial services is expected to accelerate in coming days.