Then along came COVID-19. And by force or necessity, this changed the concept of enterprise digital transformation forever. COVID-19 has shown that banks can implement massive change rapidly and effectively and regardless of whether the new normal will return to the old normal or we will face a hybrid of living, working and engaging- the inefficiencies and longer end-to-end project lead times, will surely be a thing of the past.  We are on the cusp of an important inflection point which will determine the direction of the banking industry.  From the perspective of the customer, the immediate impact of COVID-19 has shed new light on their requirements for their bank and their expectations of what a bank should be. This is as true for retail banking customers as it is for enterprise and commercial users. From the perspective of the banks, the rapid transformation over this period has shown what is possible - that rapid acceleration and adjustment of previously stonewalled practices are open to change, and customers can be on board, especially when they are led. The time is now, not just to make short-term adjustments, but to make long-term and lasting changes that will shape the future of the banking industry. We believe that the future will be shaped by AI. These benefits will be felt across the entire banking value chain. In fact, these benefits must be felt across the entire banking ecosystem for them to have meaning and relevance for every player within it.  As barriers to entry into the banking industry diminish and new players appear to tackle ever growing, niche needs, it has never been more relevant for banks to reassert their meaning and, therefore their need, to customers. The equalising nature of AI plus a shifting wider Macro landscape, for example the increasing prevalence of Open Banking, means there are more players in financial services markets than ever before. While incumbent banks may believe that their size, history and position in the connected fabric of our society mean they will always be there, in practice, this is not the case. As the .com growth just 20 years ago showed, if incumbents do not adjust to the changing field, the game will change beneath them. The rapid rise of platformitisation is there to be seen. The way we purchase groceries, consume media and book holidays is not the same as it was 20 years ago. Financial Services is not averse to this trend with FinTech Revolut offering users the chance to buy commodities such as gold and silver directly from its platform for instance. This may or may not have a wider market impact but it does point to the different experience that new and digitally native customers want.  Banks, however are essentially their own platforms and so are in poll position to stave off any new challenge from FinTechs and emergent banks. To do this, banks need a new way of thinking and offering the services that meet the needs of today’s consumer and those needs, like never before, are experiential. It is not enough to double-down on good service or increase the core product range but customers and stakeholders alike are now demanding a new experience of a bank.  It is positive then that banks have stepped up to the plate during the COVID-19 crisis to rapidly digitise their offering while simultaneously managing their multi-segmented customer base and should feel positive about the brand recognition won during this crisis.  The shackles are off in terms of imagining what a bank could be with AI as the driving force behind exploring just what is possible and delivering an experience that matches expectations.