The environment in of financial institutions in Taiwan is getting tougher day by day. The fuse for it is the booming of financial liberalization and Taiwan’s insertion into the WTO. Due the above mentioned factors, the entire financial institutions are facing challenges from large international financial institutions. This change forces the financial institutions to acknowledge themselves becoming a completely free competition business, and also, facing a life and death situation. This sign can be seen in the recent intense competition among the financial institutions.
However, specifically, from product planning, product sales, one stop services, and also financial products launches by these financial institutions we can prove the above statement.
In recent years, the financial liberalization policies cause the banking industry into the ecological environment of perfect competition. The emergence of new financial products, changes in financial strategies, and the improvement in quality of service benefit the consumers most, but have also made the overall use of resources more efficiently. Furthermore, making the domestic market especially needs the more sophisticated groups to accept the international standard of financial services.
Under this circumstance, the financial institutions need to achieve their performance and management, differentiating the financial industry will be the key focus to achieve the financial market’s main source of revenue and to increase the competitiveness of the financial market.
Based on the above findings and research, this study focuses on the practitioners and for future researches.