Their unhappiness may be because they believe that information about them has been misused or it may be because information about them is not readily accessible to give them what they want and recognize them as the good customers that they are. The separate, winding roads along which the financial services industry traveled have converged into a single superhighway. There is no longer a banking industry, a securities industry and an insurance industry. This remarkable convergence was driven by technology. Its value proposition to consumers is based on the effective use of information that technology makes possible.
Customers expect their transactions to be processed accurately, quickly and securely.
They expect seamless service. They expect to be served by companies that respond quickly to changes in the market. Managing information for customer benefit Financial services is an information industry. The winners in this industry will be those who master the management of information and use it to give their customers what they want, and when and where they want it. Banking, securities and insurance firms may now join together in a common enterprise.