Technological development, especially in the case of new information technologies, is ushering in a new phase of globalisation. This phase is characterised by creativity and innovation themselves as the sources of growth. The banking sector will be among the main beneficiaries. In reality, it will be its customers, strengthening the framework of their relationship with their bank, which is based on three principles: transparency, efficiency and security.
Today’s world is increasingly interconnected, although unfortunately this integration is not without risks. The very complexity of the international financial crisis that emerged in 2008 is perhaps the best example. Nearly a decade has passed, and its origins are still debated, with all its consequences being assessed. While the trigger of the subprime mortgages in the United States and its international development are certain, the remaining aspects concerning the crisis are debatable. The crisis has now been overcome. However, immense uncertainty persists regarding the international scenario in which it has unfolded.
Financial crises are often deeper and more difficult to overcome. They therefore require measures and reforms that genuinely correct existing weaknesses and excesses. The reforms undertaken in the financial sector in recent years, together with stricter supervision, have left us with stronger, more resilient banks. Banks have been fundamental to the economic recovery that we are all seeing at present. And yet this does not seem to be enough. It is not enough to eliminate future economic and financial uncertainties. In the first case, because of the low potential growth of the main economies. Financial uncertainties are focused particularly on high global indebtedness, underpinned by exceptionally loose financial conditions.
