Economic Impact of Innovation on HSBC and Barclays

Examine the economic impact of innovation on
the financial performance of HSBC and Barclays

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
1.1Background of study...............................................................................................................1
1.2 Research aims and objectives................................................................................................1
1.3 Rationale of research.............................................................................................................2
1.4 Significence of research.........................................................................................................2
1.5 Methodology used in the research.........................................................................................3
CHAPTER 2....................................................................................................................................4
LITERATURE REVIEW................................................................................................................4
REFERNECES................................................................................................................................6

INTRODUCTION
1.1Background of study
Innovation is the buzzing word of 21st century as it can be observed that it is taking place
at wide level in the banking field across the globe. Technology advancement make banking
operations more innovative in nature. There are number of banks like HSBC and Barclays that
are involved in upgrading their technology base. This innovation make relevant banks different
from the competitors. With passage of time banks are giving due importance to upgradation of
technology base at the workplace. Huge advancement happened in the technology in past couple
of years which change entire shape of banking field across the globe. In the current report detail
analysis of innovation is done by the business firms like HSBC and Barclays bank is done and
number of areas where they introduced new technology is identified (Akhisar, Tunay. and
Tunay, 2015). It can be said that these are one of the largest bank across the globe and play an
important role in promoting innovation in the banking field. Apart from this, in the report
innovation that takes place in the last 10 years in the UK wil be described in detail. Along with
this, in the report economic impact that innovation of technology have on these firms will also be
discussed in detail. In past time period, many researches were carried out on the innovation that
is done by the banking sector firms in their infrastructure. It was identified in these researches
that performance is heavily affected by the introduction of new technology because firm comes
in condition where it can provide service to the customers at rapid pace in the short time period.
Thus, it can be said that in past lots of innovations were done and in future also lots of
improvements can be observed in same.
1.2 Research aims and objectives
Aim and objective of research are given below.
Aim: To examine the impact of technological innovation on the financial performance of HSBC
and Barclays.
Objectives of research
o Review the progression of technological advancements used by the banking sector within
the UK for past 10 years.
o Investigate published annual reports of the banks, compare yearly statistics to see
performance rate.
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