Financial Services sector and Web 2.0

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The Indian financial market raising its young head day by day. FIIs are coming with lots of cash everyday. If we talk to the data, from the last two years the total FIIs investments amounted to Rs 200000 crores approximately. Going good indeed.

I was just curious to relate this industry with the search industry. Though the search marketing industry in India is still in its infancy. Still to begin with this strategy that one day the website development will be beneficial for the financial sector also.

A latest survey by Mckinsey revealed the fact that most of the financial service providing company thinking to implement the Internet technology to capture the market. In other words, they are thinking to take the opportunity to have the WEB 2.0 techniques to their web development. But the process is slow, in fact wait and watch. Some companies have already started to proceed in that way.

Indian Financial as well as the Stock market has got the international style and touch. The sector is going global. So in this regard my question is whether the implementation of Internet technology would be viable for the service providing companies? Or would it be too early to think about? As the nature of the Indian market is quite different from the US one, could you please share your thoughts?