We use technology to make it cheaper, better, and faster for the client. And then if you have the most flow, you can win. Now, having said that, Silicon Valley wants to take on this business. They think they see an opening.
The "third arrow" (of structural reform) is critically important. Japan has some of the best companies in the world, and if you look at their technology, their capability, it's extraordinary.
If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.
