ABSTRACT
This chapter provides an overview of the issues relating to the internationalisation of financial services and their marketing implications. It explores the drivers for globalisation in financial services based around Yip's framework. The chapter outlines internationalisation strategies and their relevance to financial services. It introduces some of the major issues relating to internationalisation in the financial services sector. Most discussions of service marketing, including those relating to financial services tend to focus heavily on marketing in a domestic context. Financial services were the second fastest-growing sector after computer and information systems and the total value of trade in financial services in 2014 was $349 billion. In terms of service classifications, financial services are typically heavily information-based services and, in principle are easily digitised. In financial services, developments in IT have facilitated the separation of front- and back-office processing and consequently, one form of expansion overseas has been in the form of outsourcing business processes to lower-cost countries.
