FINANCIAL SERVICES AND THE INTERNET - WHAT DOES CYBERSPACE MEAN FOR THE FINANCIAL SERVICES INDUSTRY

Financial services is under going a period of unprecedented change - n ew products, new entrants, mergers and acquisitions, downsizing...and now another new delivery channel: the Internet. The performance attrib utes of the Internet are related to both the needs of consumers and th e nature of financial services products. Suggests loans, cross-border services, payments and ''knowledge/advice'' as areas of opportunity in the early development of this new marketplace. Explores scenarios for the future development of ''bancassurer'' offerings and for electroni c commerce as a whole. Draws on some of Hyperion's recent experience i n helping to launch electronic commerce services on the Internet, reen gineering of financial institutions and electronic cash, to suggest ap proaches for organizations wishing to participate in this new ''market space.'' While businesses can now begin to develop strategies for expl oiting cyberspace, argues that existing organizational structures may be inappropriate.