Most financial services are now tradable across borders in an extremely competitive. environment with buyers and sellers around the world having a choice of procuring. services from competing international financial centres. The global international. financial services (IFS) market in the 21st century is one in which competition. is driven by rapid innovation in financial products, services, instruments, structures, . and arrangements to accommodate and manage myriad requirements, risks and a ceaseless. quest for cost reduction. Competitive advantage in IFS provision depends on seven. key facto.