Business transformation is not new. It is also not easy.
Regulatory decisions have required banks to take on more capital, putting additional pressure on the profitability levels of some of their key products. The entire process of creating financial products, bringing them to market and selling them to the public is undergoing a transformation.
At the same time, the customer base is changing, adopting and using technology in new ways. That means a financial institution's workforce must have new skills and talents. Bankers now need to be nimble, able to multi-task and understand the consumer profile.