Sanjiv Anand, Chairman, Cedar Management Consulting International

In a world obsessed with rapid digital transformation, many banks have lost sight of their core purpose. While innovation is essential, the "scorching pace" of change—such as updating apps multiple times a month—risks overwhelming users who can only absorb so much at once. The author argues that juggling hundreds of tech projects simultaneously makes meaningful success unlikely and distracts from a bank's primary role as a secure financial steward.

Furthermore, banks are increasingly acting like fintech startups, taking on high-risk product development without rigorously measuring return on investment (ROI). In the rush to be innovative, basic financial metrics like revenue increase and cost reduction are often ignored. As leadership plans future budgets, the article urges an honest "stock-take" of recent investments. Leaders should evaluate which initiatives customers actually value, shut down failing projects, and apply common sense to their digital strategies to ensure they are racing toward a meaningful goal rather than just moving fast.