Digital has changed consumer expectations by showing them what great customer experience feels like. Today, customers expect instant gratification, outstanding service quality, simple, intuitive processes, 24/7 availability, self-service, transparency of products and pricing, personalization and contextualization, and a consistent experience across channels. Banks are ill-equipped to respond to this demand and deliver against these expectations. Most banks are burdened by legacy processes and technology that make it difficult to sense and respond quickly. This is compounded by a super-siloed organization structure and a business culture characterized by governance and risk avoidance rather than empowerment of employees to innovate. FinTechs and digital leaders who are entering the banking space do not have such legacy issues and can deliver on customer expectations quickly. While the market share they are taking away from banks remains limited in most cases, it is becoming substantial in payments, lending, and foreign exchange. The challenge to us bankers now is to reclaim this relevance.