Considering that financial institutions in the developed economies have faced increasing pressures on their revenue streams, reflecting structural changes in 1  the financial system, the low profitability of financial institutions has become a global problem to be reckoned with.
Since the last conference in 2014, the rapid pace of change has continued, driven by factors such as customer demands, changing technology, new players, and also regulatory changes. A challenge is to ensure that our systems remain resilient through this change. The Reserve Bank is a system operator and the regulator. We want to be responsive on both fronts.