This happens, for example, when buyers have insufficient information about products or when consumers only think about their immediate gratification or make decisions which, over time, involve higher costs than their payment capacity. Market failures also occur if an economic actor has too much market power.
Going ahead, the world of banking is expected to be more  collaborative as well as competitive, with newer players offering innovative financial products. Banks need to prepare themselves for facing the dynamic environment, while keeping their focus on appropriate business models, sustainability, stability, and consumer centrality. More importantly, good governance remains fundamental to success and should not be compromised.