The phenomenon of convergence refers to:
A)financial service firms expanding into other product lines.
B)firms reducing their product lines.
C)bank merger activity.
D)globalization in banking.
E)technological innovation in banking.

Question

Quizplus · Accepted Answer

Convergence in the financial industry typically refers to financial service firms expanding into other product lines, such as banks offering insurance or investment services, thereby blurring the lines between different types of financial services.

The Phenomenon of Convergence Refers To