Royal Bank of Scotland
Today, The Royal Bank of Scotland (RBS) is one of the biggest banking institutions with its capabilities to provide world-class services whilst maintaining its reputation as a top financial services provider in the banking industry. Its leadership in this market is remarkable, and so are the ways the bank’s governing body has been able to manage the complexities, challenges and changes that come with the industry.
Understanding that the Royal Bank of Scotland (RBS) has recently undertaken a series of changes, this report provides an outlook of the approaches RBS has taken to manage those changes. This report also includes the assessment of the success that RBS has …show more content…
So here are the following assessments associated with RBS success with its emancipated changes. * RBS’s success is strongly associated with its implemented control (Stredwick 2012, p.35). * RBS’s success was made possible by combining consent efforts and opportunities from the information technology, organization and people (Watkins 1998, p.83).
Now it is clear RBS developed the above-discussed approach not only to ensure profitability, but to guarantee competitive advantage in its industry. Its ability to create major innovations and substantial changes only promote its potential to stay on top in the financial service industry, ensuring its sustainable operation while taking the opportunity to provide high value for customers and generate profit.
B. Describe how the evolution in technology has changed the banking industry and RBS in particular. Describe how technology will influence banking in the future.
Technological evolution has immensely changed the banking industry for the last 20 years. At present, one cannot mention banking without technology, as the latter drives the whole system forward. When banks could not handle large volumes of information, they introduced computers (Panwa n.d.). Simultaneously, there was increasing need to convey the financial information promptly