The rapid change across the financial Services industry during the last twenty years has been relentless. Now with competitive challenge from new online banks, and the continued consolidation of the industry are providing a new set of opportunities and challenges. Technology and the growing pressure to increase shareholder value are driving globalization, consolidation and convergence in the banking industry, while a slow economy has again made cost reduction a priority. Newly empowered customers expect customized, easily accessible services. And investor demand for integrated wealth-management services continues to drive convergence among banking companies. There are two things successful banking companies do to stay ahead of market shifts and customer demands: a. anticipate - when you understand what's coming next, you can do more than just keep pace - you set the pace and create the momentum for business transformation and b. the role of technology in the financial services sector has increased exponentially in the past twenty-five years. Technology is core to the infrastructure, operations, and increasingly, critical to the delivery mechanism to and from financial services sector companies. Until recently, the notion that information technology in any shape or form should be subject to financial regulation or oversight would have been fanciful and far fetched. Yet, there are now signs of financial regulatory creep across the provision of technology within the financial services sector.   Barclays Bank Abbey National   Merrill Lynch