When we launched the Top 10 Challenges for Investment Banks series in 2008, the world was a very different place than it is today. The investment banking industry was starting to face a global financial crisis-a situation that would dominate agendas and focus C-suite attention on regulatory compliance, capital optimization and cost reduction for years to come. Recently, however, we have witnessed a distinct shift in priorities. More than ever before, investment banks are paying attention to digital technologies and financial technology (FinTech) innovations. As barriers to entry fall, they are increasingly aware of an ecosystem that is emerging just beyond the four walls of their institutions. This development is prompting new solutions and highlighting the need for fundamental change.