Abstract: “Banking continues to go through tremendous changes influenced by the aftermath of the economic crisis, the development of new regulations, the challenges and opportunities resulting from advances in technology and changing customer behaviour. Customers demand complex solutions through more understandable and secure products and services that match their individual needs. Their profitability is decreasing as they distribute their assets across multiple banks and even punish financial institutions through their lethargic passivity. This article reviews the current technological challenges to financial institutions in the financial services sector. The purposes of this article are twofold. The first purpose is to provide a theoretical discussion of the most influencing changes; the second is to review the main practical impacts on banks and their customers. The article highlights a number of important areas that should be kept in mind to achieve effective and efficient organisation for fa”

Keywords: banking, financial services, financial regulation, management, technical advances