Increasing a business’ digital competence is a need that’ll never go away; continual transformation is required to be competitive in the market. So much hinges on getting digital right that entire new disciplines and executive roles are springing up, including the Chief Digital Officer and Chief Transformation Officer. Change makes many people uncomfortable, but it’s a necessity.

Only 17 percent of banks have succeeded in digitally transforming at scale, according to the 2019 Innovation in Retail Banking report.