Internet will create new equities market
Arthur Andersen has found 60% of UK financial companies believe a large capital global equities market will be created within the next two years due to the business-to-business internet revolution.
The finding came as the firm released the results of its global ‘Converging on an eBusiness Future: eB2B in the Financial Services Industry’ survey.
It’s survey investigated the attitude of the financial services industry towards the future of eB2B.
Meanwhile, 43% of global respondents believed fraud is the greatest area of regulatory concern, with 47% reporting the changes in corporation tax will have the most impact on their businesses.
Russell Collins, head of UK FSI for Andersens, said: ‘While financial services institutions are considering the possibilities of eB2B.
‘They must be aware that new cutting-edge entrants are incubating new businesses and accelerating new business models that will give rise to new financial companies in this space.’