Retail financial institutions' efforts to expand globally are producing disappointing results, according to a study by Deloitte & Touche Consulting Group.

"A large percentage of industry executives are disappointed by the results of these efforts," the study said, "and a majority lack confidence in their ability to meet the evolving needs of customers."

The survey was done after the recent increase in international expansion by banks, mutual funds, insurance companies, brokerage firms, and credit rating agencies. Though many appear to have viable strategies, execution appears to be weak, Deloitte & Touche executives said.

They added that the main weakness is companies' inability to deliver what customers really want in any given market. "Buying behaviors that played well in your domestic market may not play well overseas," said Jeffrey Sawyer, the Americas practice director for Deloitte Consulting's financial services division.

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