INTRODUCTION.
The role of banks has been, and continues to be, shaped by a number of mega-trends: the globalization of financial markets, the rise of non-bank competitors, the ongoing evolution and implementation of new technologies, and deregulation and disintermediation (i.e., the movement away from the middleman role played by banks between depositors and lenders). Ultimately, as a direct result of the aforementioned trends, many banks have decided to extend their business transactions across national boundaries in search of new business opportunities and higher profits. …
