Banks need to use technology more efficiently than in the past, when it was used to duplicate traditional activities. They must use remote digital services to replace, rather than flank, the traditional distribution channels, although bank branches will not disappear entirely, because I can’t see many customers getting a mortgage online.
With this and other initiatives and resulting prominence, we ask, “will there be significant changes in rank and order in the brotherhood of nations?” Even now in various multilateral institutions, emerging markets are clamoring for greater voice, representation and engagement. This is consistent with our increasing role and growing importance in the global economy.