From the Citi report: "The authors believe an omni-channel strategy is the winning solution for incumbent banks over the next decade. This should be built around a competitive digital offering, a reduced and modernized branch network, and lastly, a targeted channel strategy for different segments of customers." I'll reiterate what I suggested last June: Cisco is in a unique position to help banks revitalize their omni-channel strategies using with its collaboration, analytics and automation software portfolio. Consider the technical, organizational and security challenges of insourcing the services provided by a Fintech to a bank's existing application portfolio. On one hand, the Fintechs typically lack the scale and supporting services e.g. Call Center, security, multi-channel support, analytics, etc.. The banks want to play in the Fintech space by sourcing functions, partnering or using different funding models, but want to keep them at arms length of their existing systems. An opportunity for a better alternative is for Cisco to act as an intermediary, providing the omni-channel and secure integration capabilities - what I'm calling the "picks and axes strategy the Fintech gold rush" - bringing banks and Fintech companies together.