Even the world's largest banking heavyweights are under pressure... to adapt to the new reality of disruptive technologies and to modernize their traditional business models. At a hefty price, as they have to pour more cash into their digital infrastructures.

The force has awakened .New technologies are challenging major banks in China and around the world. That's why Swiss giant UBS called together top executives and investors for its first Disruptive Technology CEO Summit this week in Beijing.

Digital innovation, artificial intelligence, VR and AR, robotics, just to name a few, are forcing traditional lenders to rethink their outdated business models. The transformation won't come cheap.
 
The rise of cyber security threats has also resulted in increased security spending. But the emergence of disruptive trends also provides more opportunities.  FinTech and blockchain - a technology underlying bitcoin - have certainly been the clearest examples so far.
 
A huge concern for the big banks is having their lunch eaten by the likes of Apple, Tencent and Alibaba, which are making deeper inroads into mobile payments.

Experts say those tech giants are unlikely to ever become banks, but they are the best places to build user-friendly tech solutions that answer to consumer demands for payments and financial services.

Powered by millennials, China is at the forefront of digital innovation supported by other consumer trends such as sharing economy, augmented reality and virtual reality.

UBS expects 2.5 billion new internet users by 2025 - with China, India and Indonesia being the key drivers - and annual VR units are set to reach 30 million and 9 billion USD in sales in 2020.

There is no way out. Technology is transforming the global banking landscape to a point of no return.

Banking professionals and chief investment officers gathering here are under pressure, as the competition and threats from fintech startups, digital challengers and tech giants present a threat that is only likely to increase.