May the 4th Industrial Revolution be with You, Part 3: ‘Domo Arigato, Mr Roboto…’

The shift towards digital banking alternatives is causing South Africa’s largest bank, Standard Bank, to close its doors on 104 branches and resulting in 1,200 employees being laid off. The bank’s service offering needs to adapt to remain relevant to its customers, as they embrace new digital banking alternatives such as Post Bank, Discovery Bank and Tyme Digital Bank. Standard Bank employees who have worked themselves out of their jobs with their technical knowledge will need to reskill themselves in other areas to remain relevant to the bank, such as management and leadership, customer service, information technology, and marketing and sales. Ultimately, the banking industry will require strong, emotionally intelligent organizational leaders to meet the customer needs and expectations of the future.