While a bank may still keep a staff at its hometown office, it's not unlikely that it will have support personnel working from other locations. While the globalization trend is a positive one, opening an organization up to unlimited possibilities when it comes to conducting business, it presents the one of the biggest challenges of the digital economy. With progress come obstacles, and this is particularly true of our emerging digital economy. The financial services industry and others will have to wrangle with these issues in the near future. Perhaps the greatest challenge we will face is filling the new jobs that will be created.
Internet banking appears to be on the brink of a massive growth spurt.
With careful regard to the special challenges posed by electronic commerce, the financial services industry can play an important role in benefiting the economy, financial institutions and consumers alike. On a larger scale, if the challenges are met with appropriate responses globally, then, as the Department of Commerce report concludes, electronic commerce can flourish and the digital economy could accelerate world economic growth well into the next century. All rights reserved.