VIDEO TRANSCRIPT:

Banking is increasingly ripe for disruption. Digital giants are edging into financial services, while digitally native banks are gaining market share. But while the profits and pundits are busy heralding the end of legacy banks, Publicis Sapient is helping them to reinvent themselves. In fact, we built the world's first fully digital trade finance bank, from concept to live in just a matter of months. So what does it take to reinvent banking? In short, answering three essential and very big questions.

The first question is what's the big idea? To answer this, we need to know what is the customer problem that we're going to solve? How could our solution be not just useful but loved? What's the commercial model that's going to get more powerful over time, not more commoditized? And what competencies are going to be required to make it sing?

The second question we ask is how do we build it? The natural inclination is to think about the architecture, solutions and systems that will deliver. But first we must understand the organization's distinctiveness and differentiation. How will this evolve in coming years and decades? Answers to this question will help identify the capabilities that bank will need to deliver the greatest impact. In short, focus on building the capabilities that are differentiating, rent the rest and design an architecture for continuous evolution. And this sets up the third big question.

And the third big question is how do we become it? This requires an honest look at the bank's ability to adapt its culture and to really invest in its people. Leadership is going to need a new approach to performance, planning and decision making that's uncomfortably different to what's made them successful until this point. Managers and colleagues are going to have to feel personally accountable and empowered to meet the needs of your customers with a new set of tools. Getting the people part right is absolutely crucial to reinventing a bank. All the vision, all the technology, all the planning doesn't mean anything if you don't have the will to implement it and make it work.

We're talking about a period of dramatic transformation. Only those institutions ready and willing to embrace change as a constant will make it through. Because that's what it takes to not only survive, but thrive. That's what it takes to reinvent banking.