The rapid evolution of e-business and the threat posed by aggressive new competitors have been identified as the major challenges facing the banking industry, according to the results of this global study conducted by the Centre for the Study of Financial Innovation (CSFI) and sponsored by PricewaterhouseCoopers.

Nearly 200 bankers, regulators and observers from the global financial services industry responded to the survey, which revealed concerns regarding banks' e-strategies and their failure to grasp technology issues.  The survey highlights the concern regarding banks' ability to adapt to the new environment.