To that extent, the advantage of coordination-type products, in which Japanese firms can exert their strength, has declined. Japanese firms still maintain high technological competitiveness in the production of core modules and processing equipment. However, technology transfer from Japan to emerging economies has been further progressing, and the gap between the two economies has been narrowing.
This presents itself with several exciting opportunities with applications across the spectrum of banking functions as well as facilitating better business strategies, fine tuning risk management and offer banking services with enhanced customer experience. Collaborating and sharing data, subject to privacy considerations, magnifies the benefits exponentially. Indeed, the possibilities are endless. Apart from commercial considerations, there are positive implications for development too.