Banks with a platform that allows them to adapt to continuous change will be able to make banking better for billions more people and also help de-risk economies.
Banking today is unrecognizably better for hundreds of millions of people than it was even 10 years ago. In 2010, payments took days instead of minutes to clear; no one had heard of a banking app, let alone installed one on their phone; retail banks relied on high-street branches; fraud mitigation was manual, based on rules; and data was heavily siloed in departments, slowing decisions and stopping it from being used to reduce risk.
Some of the ways in which banking has changed are trivial: I once queued for hours to open an account and had to send a fax to reset a pin code; today that can all be done online in minutes. Some changes are more fundamental, such as the