The Financial services industry is facing several challenges, while some of these are fast-moving and perceptible and others may be long-termand more fundamental. Financial institutions of all sizes and shapes are in a period of strategic transformation, and must essentially attend to a wide range of issues instantaneously on their road to recovery from the crunch of the past five years.

• To innovate and offer better products and services
• Compliance with regulatory reforms like “Basel III” to improve governance and risk management
• To control costs and endure competitive in the current economic atmosphere that is operating under consolidating operations, increased volume and velocity and greater scrutiny.
• Integrating mobile banking as a regular transfer channel developing a strategy around social media
• Embedding risk management and governance culture in the day to day operations
• Enterprise-level integration and management of data – interactive customization of services and products to meet customer demands