what challenges did the bank face that provided the impetus towards their pursuit of digital transformation?

Need to refer to the attached Case Study and answer the following:Welcome to our first forum that brings us to Singapore and an iconic brand for the country: DBS Bank. The case study you have read explains that DBS has been serving customers in Asia for several decades, and is a frontrunner in digital transformation. It also serves us to focus on an industry that by itself is building a lot of digital technology. So let’s take a look at how DBS ‘rewired’ the entire enterprise for digital innovation. Let’s start by looking at the situation the bank found itself in at the opening of the case. So, take a step back and analyze DBS Bank’s competitive situation. Good, bad? Specifically, what challenges did the bank face that provided the impetus towards their pursuit of digital transformation?