Regulatory drivers include measures such as regulatory focus on fair treatment to customers and stringent KYC norms, risk management guidelines and reducing entry barriers through new licences to the banks. Internal drivers would be led  BIS central bankers’ speeches  1  by manpower change opportunity that the retirements would bring.
Banks would need to gear up for winning the “war” for talent in a competitive market place. If they do so, other external drivers such as newer technologies and newer operating models can follow, enabling banks to improve efficiency.