What that actually means in practice remains to be seen. It is already clear is threat the following will and is happening:
Further digitization of Dutch bank ING's services is expected to reduce its workforce in the Netherlands by around 1,700 full-time Equivalents (FTEs) over the next three years.
The cuts of jobs will mainly occur at the headquarters of ING Retail Banking and in the back offices, call centers and IT departments in the Netherlands, according to the bank.
HSBC sees three main technology drivers that need addressing:
Its ‘mile high’ messaging on how to respond to this is: