 we serve a critical need. And as people are dealing with money, they are wanting to be able to do that in a way which is convenient to them, easily understandable, feels like it's on par with how they're shopping for their retailing on companies like Amazon or how they're searching on Google or other technology companies, the expectations are going up. So for us, this really has become a critical part of what we need to do well to continue to be successful. The first thing that we need to do is understand that the world is changing, that barriers to entry are going down, competition is going up. And whereas over decades, banking might have seemed to be a little bit of a closed shop, that has changed and is going to continue to change radically, whether it's the startups, the FinTechs or other established banks innovating quickly or other technology-driven players who have decided to come into financial services. So, you know, we benchmark ourselves against our traditional competitors, they're generally very good, we have to work hard to compete well against them. But these days, that's just the start of the challenge. Even if you feel you're doing a reasonable job against the traditional competitors, looking days, weeks, months ahead, there are a whole lot of other choices for customers. But at the end of the day, it's good for customers. And you've got to believe that what's good for customers is going to be good for the industry if they can respond well. There's no doubt that changes in culture and ways of doing business are critical if we're going to survive. So, on the one hand, the basic values of banking, integrity, being here for the customers, etc., that were the same 100 years ago or still as applicable as ever, that doesn't change. Trust is at the core of what we do and needs to be. But the way in which we interact with our customers, the way in which we provide our products and services, the way in which we talk to them is evolving. And old established business processes will only go so far to achieve that. Now, that isn't the same as saying that people who did things the older way can't adapt. We've got people at the Commonwealth Bank who have been with us for more than 50 years. I called somebody last week who's 50 years with a company. She is loving life. She's in risk management. We've got new analytic tools for risk, and she's adapting to them in loving life more probably than any time previously in the bank. So, it's not the same as saying people can't adapt. I think a lot of people can adapt, do adapt, successfully want to adapt. But we do need to realise that old, slow, cumbersome ways of doing businesses will no longer get us to where we need to get to. At the same time, as understanding we need to balance risk, we're heavily regulated, we've got high compliance burdens, and those things have got to co-exist with the agility everybody talks about about digital businesses. So, yeah, that's a pretty big management challenge. At some level, there is a logic for banks buying startups. I mean, for the Commonwealth Bank's perspective, a couple of years ago, we bought a small fintech business in South Africa called Take Your Money Everywhere. The reason we bought it was because we've got businesses in emerging markets, and we weren't able to crack a particular way in which digital account opening could deal with the new regulation, particularly the Know Your Customer requirements of anti-money laundering legislation. This group in South Africa had cracked it. We found them, built a great relationship with them, ended up buying them. A couple of years later, their founders are still leading the business. The rate of innovation has gone up, and actually the combination of the resources and the know-how of the Commonwealth Bank and the agility and entrepreneurial nature of the startup have worked very, very well. Now, on other occasions, they're going to be competitors, and on other occasions, you've got to realize that sometimes when a big company buys a small company, the fit just doesn't work because often the bureaucracy can quash the innovation. So there isn't a correct answer, but I think there's certainly a fertile ground for banks working together with startups, in some cases investing in them, and in other cases just realizing we need to compete hard against them. All those options are part of our competitive dynamic of modern-day banking. Well, we are probably at the Commonwealth Bank a little bit of an outlier on the topic of branches because while we believe that the digital interface with customers needs to be exceptionally good, we believe that for the medium-term at least, and beyond that, I can't predict, branches are going to continue to play a critical role. They change. So our branches are now on shorter lease lives. We tend to have them over four or five years. We don't own them, so they're much more adaptable. When the lease comes up, we will often change the format, put new technology in there like deposit machines, retrain our people so they're able to engage differently with customers no longer behind big screens, etc. But the physical interface with the customer in our mind, at least today, is still a critical way of interacting with customers. And you can see this, I mean, even you've got Amazon opening stores, you've got Apple opening stores, now they're not opening thousands of them, but even the big digital companies who have made their name on digital interfaces have seen the opportunity for the physical interface and we continue to see that that's important. Now, what we do need to make sure is that if that changes rapidly, we're in a position to change rapidly with it and that's why we want the branch network to be more flexible. But we are big believers that the physical interface needs to sit alongside the digital, doesn't get supplanted by it. I think there are a couple of angles of the real next frontier of digital. Number one is increasingly putting the power into the hands of the customer. Now, these are cliches and all these sorts of businesses on demand, review on, etc. But this is right. You need to be able to present the bank 24 by 7 mobile fixed in any way the customer wants to interact and let her or him guide their own experience increasing and that's happening more and more. And again, the benchmarks for that are generally outside financial services. So that's sort of part A, which is the digital interface. Underneath that, there's the increasing power of analytics, of smart computing, of computing power, of machine learning, and that's enabling our data to enrich the individual customer's experience. And we're seeing this very powerfully today with small business. So through our market shares and credit cards and point of sale machines, we are now able to give our small business customers the same insight into their customer base as big businesses used to be the only ones who could get it because they were the only ones who could spend the money. So I can go to a florist in Darlinghurst in Inner Sydney and tell him or her on average where their customers live, what they spend in various categories, while completely preserving the privacy of the customers just because the volume of the data. So that whole issue is sort of number two. And number three, undoubtedly with artificial intelligence and robotics, the digital capability is transforming what used to be called the back office of the bank. So all those three things are coexisting, and they're all continuing, the innovation's continuing at a rate of not. So there is no off season. There's no time to take a breath, and the rate of change is very, very intense.