This is not a scenario of a distant future. Some of it is present reality. It is already happening. Just a couple of weeks ago, Lloyds Banking Group, a British bank announced plans to axe 9,000 jobs and close 200 branches as it “digitises” its business. Technology is already reaping barren harvest on jobs.
•  On the other hand, they need to execute their rationalisation plans with determination, in order to bring about structural cost reduction. •  Lastly, they need to actively seek out strategic investors that can bring new capital to the institutions.