Clustering in Financial Services: A Literrature Review

Cluster theory is one of the most important theories of regional economic development theory in the modern world. This is mainly because agglomeration economy reduces input cost and increases in knowledge that may improve corporate productivity, the commonality or geographical proximity of the consolidated enterprises to the corporate economy It is indispensable for expanding the range. , 2010, p1). As a result, this creates competitive corporate clusters, which can lead to significant growth in business.

Distributed cloud computing, file storage, and financial services are gathered at the top. In the heat map at the beginning of this article, it is stated that these departments are different from other departments, but it is not clear that they are different. As for the reason, we must say humbly that there is no strict answer. Interestingly, the biggest ICO in 2017 is Filecoin, and in the distributed cloud computing field there are early market entrants. Therefore, this cluster is usually more mature. If you have other ideas, please share with comments.

According to Estelami (2007), financial services have specific relevance to promote financial services marketing, including subjective knowledge on quality, price complexity, regulation, market clustering, consumer protection, etc. Other marketing fields are different. The first unique aspect of financial services marketing is very subjective in financial services such as fantastic quality concepts, insurance services and securities brokerage services. Second, the price of financial services is complicated. For example, an installment payment loan can be a monthly payment or prepayment. These payments are difficult for consumers to understand. Third, the relevant regulation also makes marketing financial services different from other marketing practices. For example, financial services advertisements, the Securities and Exchange Commission, etc.

In the Philippines there are a wide range of financial products and services available to all families and companies. There is evidence that access to basic financial services such as savings, payments and credits may have a positive impact on people's lives. Therefore, financial subsidies have the potential to improve the happiness of the poor and the growth of small and medium-sized enterprises 1. Unfortunately, this country basically does not have a bank account. According to Bangko Sentral ng Pilipinas (BSP) 2015 financial comprehensive survey, only 14% of Filipino households have deposit accounts (86% without deposit account). More than a quarter of Filipino people (43.2%) are kept on rainy days, but one out of seven people (68.3%) hides savings in unsafe places in their homes. It is unproductive. Two Filipinos out of ten have never saved one penny in their lives.