Banking, Mortgages & Lending OVERVIEW
Consumers quickly replaced much of their physical, in-store shopping with online shopping.
Many shopping platforms with integrated payment tools, such as Shopify, saw terrific growth rates. The Coronavirus initiated trends in banking and payments that will have lasting effects.
This is true on a global basis.
A good way to think of the total effect is that the Coronavirus accelerated what would have been the next 10 years' worth of growth in digital behavior into a few months' time. The Globalization of Banking: Banking has become a highly globalized industry.
This was fueled by four factors: 1) the availability of global electronic networks for distribution of funds and real-time management of information; 2) the easing of local restrictions on ownership of banks by foreign entities; 3) the opportunity to serve the needs of multinational corporations; and 4) the increasing attractiveness, from a banker's point of view, of rising household wealth in emerging economies.
New opportunities were sought out globally by major banks.
However, regulations in many emerging economies restrict the level to which foreign firms can own local banks. The “Shadow Banking” System: Non-bank companies that offer financial services are a competitive threat to traditional banks.
Retailers, automobile manufacturers, stock brokers, insurance companies and other business sectors are offering a growing array of bank-like services, from
Industry Overview Video
WE PROFILE HUNDREDS OF TOP COMPANIES:
- AMERCO (U-Haul)
- ADA SA
- Affiliated Managers Group Inc
- AllianceBernstein Holding LP
- American Express Company
- General Motors Financial Company Inc
- Annaly Capital Management Inc
- Associated Banc-Corp
- BancorpSouth Bank
- Bank of America Corporation