Financial_Services_The_business_environment

Financial_Services_The_business_environment - Financial...

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    Financial Services: The business  environment “Soon all that will remain of the old  industries are the names of the founding  institutions – and even those are  changing”
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    Key external drivers  (FSA/Henley Centre) Financial deregulation Increasing home ownership and rising property  prices New government initiatives and products Changes in pensions legislation The UK economy and financial markets Privatisation Demutualisation
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    Key drivers continued Information and consumer choice Government confusion “Credit society” and affluent lifestyles Influence of “choice editors” E-commerce and online finance
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    The socioeconomic environment Rising disposable incomes Increasing personal wealth Increase in net lending Increase in number of dwellings and owner  occupied dwellings Growth in number of mortgage accounts Falling repossession rate
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    UK home ownership
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    Home ownership by income and  age
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    UK live mortgage accounts
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    Home ownership risk: repossession
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    Housing and net wealth
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    Wealth by age
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    Penetration of saving/investment  products (asset security) by age and  type
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    Growth of credit society
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    Composition of credit
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    Social class and credit
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    Re-structuring of personal sector  balance sheet 
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    Re-structuring continued
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    Effect of government initiatives
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    Government initiatives
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    Confusing government messages Bell and Jenkinson, Oxford University 2001
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    Pensions crisis
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    Pensions: threats and opportunities
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    The regulatory environment 1970 dissolution of clearing bank interest rate  cartel 1986 Building Societies Act revision 1986 Reforms to Stock Exchange rulebook (Big  Bang) 1986 Financial Services Act 1995 Disclosure of Commission and Charges 2000 Financial Services and Markets Bill
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    Technological environment Automation of back office tasks reduces costs and  facilitates greater selling emphasis Wider access to customers, greater convenience, more  services through ATMs Increasing levels of commitment to customer service New distribution opportunities Increased effectiveness and efficiency of marketing  efforts
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    General competitive trends Non – price  competition Basis of  competition Price competition High Barriers Lower High Investment Lower Clear competitive  boundaries Demarcation No competitive  boundaries In house skills and  specialisations Specialisation Out-sourcing of skills  and services Pre 1980s Post 2000
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    New entrants Scottish Widows Bank 1995 Tesco 1996 Virgin 1997 Sainsbury’s 1997 Safeway 1997 Midland at Morrison 1997 Standard Life Bank 1998 Egg 1998
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This note was uploaded on 05/20/2010 for the course DOF AAf001-6 taught by Professor Changchungdo during the Spring '10 term at 카이스트, 한국과학기술원.

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Financial_Services_The_business_environment - Financial...

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