For banks, major change is occurring in the way consumers and regulators view them. Challenges include levels of trust in the post-œfinancial crisis world, customer demographic changes, and new technology uses. Banks face increasing pressure to move forward with their customers, while satisfying the regulators. To achieve the conflicting goals of more flexibility and more efficiency successfully, banks must change. What is required in this transformation is a combination of process simplification and operating model change, supported by an agile building-block approach to product design and servicing.