|Chapter 4 Summary . . . |The Changing |
| |Financial Landscape |
Overview
The combined forces of changing customer needs, technology driven innovation and regulatory change (discussed in the three preceding chapters) are imposing substantial change on the landscape of the Australian financial system.
For the purpose of its task, the Inquiry considers it unnecessary to predict precisely the future shape of the industry. To do so accurately would be impossible. Rather, it has confined its analysis to identifying the broad directions of change which are now under way.
Four broad changes are identified.
Key Findings
Increased competition will result in the rationalisation of pricing and costs. There will be no room in a competitive market for non-commercial mispri ...