Industry Analysis using PESTLE Analysis shows different factors influencing the industry. As the below analysis shows, political factors would be monetary policy, regulatory framework, changes in interest rates, and more. Economics would be more savings, improvement in banking channels, and more. Social influence would be changed in lifestyles. Technology's influence would be the internet and mobile banking. Legal influence would be laws and regulations. It should be noted here that PEST analysis describes a framework of macro-environmental factors used in the environmental scanning component of strategic management. In marketing, before any kind of strategy or tactical plan can be implemented, it is fundamental to conduct a situational analysis. Moreover, the PESTEL forms part of that and should be repeated at regular stages (6 monthly minimum) to identify changes in the macro-environment.
