But while banks recognise that this demand is an opportunity to gain a competitive advantage, an overwhelming number (84%) believe they are struggling due to their legacy infrastructure.  Furthermore, new entrants in the payment market and non-banks have raised consumers' expectations to a level that many banks cannot match because of their current technology set-up. Consequently the majority (85%) believe that overhauling their existing payments infrastructure is a necessity if they are to compete in the current payments market and meet their customers' demands.

https://www.finextra.com/newsarticle/37100/payments-have-become-tech-arms-race-say-banks