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ught transformation in banking and financial services technology, changes in the interest rate, and changes in the designing of the products and services, economic activity as well as increased competition in the financial services suppliers. Banks are increasingly finding that the most viable way of differentiating themselves will be to successfully manage customer relationships and enhance the overall customer experience. The boom and bust market cycle has created a wealth affect and reverse wealth affect that will dramatically reshape investor expectations. Most investors are better informed, attentive, and more demanding of high quality services. In uncertain market conditions, investors may migrate towards collaborative relationships with the established brands and proven performers. A financial services company wants to be first to market with new products to meet the 'emerging needs' of affluent customers.

6.5 Containing/Reducing the Cost of Administration

The financial services sector has been a pioneer in outsourcing non-core, and more recently core processes to achieve cost savings in competitive business environment. The fast-paced changes in the financial services industry enforce market leaders to look for business process enhancement and cost advantages, without losing focus on core activities. Today's financial firms function within a highly competitive environment where end-users increasingly demand extraordinary services on a global scale, more sophisticated business models, and faster, real-time communication across multiple mediums for comprehensive financial information. The ongoing sub-prime crisis will enable the financial institution to offshore more work to reduce the cost. The financial services industry, comprised of banking, capital markets and insurance, is the leading adopter of Offshoring services and accounts for 40 to 45% of worldwide global sourcing. High-tech savvy and private banks are now demanding more branch licenses from the banking regulator RBI to penetrate areas where banking is low. The branch banking transformation is taking place because it can provide extended hours of services as well as cost reduction/cost control. Technology deployment is another area wherein the financial services are ready to spend more on infrastructure development since it proves to be highly efficient method in cost savings. At the same time, it enables interconnectivity in inter-banking and intra-banking methodologies.

6.6 Areas for Future Research

The thesis has mainly focused on the financial performance of HDFC Bank Ltd and not of its competitors. Was competition among the peers affected by the global recession is an interesting area to explore. . This study focused only on HDFC Bank whereas an attempt can be made to get in-depth knowledge of the financial sector through proper research, which can be useful in developing of financial business in India. The information researched can be used as measure to open a financial based business in India.

References

Achary, Viral and Philippon, Thomas, and Richardson, Matthew and Roubin, Nouriel (2009) -The Financial Crisis of 2007-2009: Causes and Remedies Financial Markets, Institutions & Instruments; 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。