As we look at the next ten-year time horizon, there are three major forces challenging banks: digital technology, bank resilience, and climate change. Since my experience stems from Europe, I refer here to European banks, but this largely applies to banks in general. Embracing digital technology is an essential part of future-proofing a bank.
Its global implementation afterwards is of utmost importance in order to guarantee a level playing field and to prevent regulatory arbitrage. In addition, some elements of the package require further work in the process of finalising the whole.