However, the situation is likely to be different in other countries, where greater emphasis may be placed on higher degrees. Competition, both on the national and international fronts, will no doubt result in more mergers and take-overs. Increased regulation in order to protect the consumer and the industry will be a necessity. The European Union has already chosen Frankfurt, Germany as its financial centre and as the EU increases its membership over the coming years, the Euro will be on a par with the US dollar as a benchmark currency. Technology has already placed its indelible mark on financial services.
Cheques are likely to become a thing of the past, together with individual currencies.
Graduates able to thrive on this diet of intensive change will find a career in retail financial services both challenging and rewarding.