Digitalization and automation are driving significant changes to banks' products, systems, and operational efficiency. Tech adoption rates are influenced by infrastructure, regulation, local preferences, and competitive pressures, and are thus uneven. Emerging technology gaps between banks and countries will benefit or inhibit the wealth of clients and nations. We expect banks in many regions will have a greater capacity to innovate due to stronger earnings from rising interest rates, and thus create a virtuous circle in which tech-driven savings enable greater investment in tech. Emergent technologies, such as generative artificial intelligence, promise material change that could create opportunities and threats for banks and fintechs.