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      "text": "Looking back over the past quarter of a century, it's striking that banks' cost-to-income ratios (CIRs) have remained in a tight band (Figure 8). There are subtle differences across the world, but for most the 50-60% range seems to be the equivalent of terminal velocity for CIR.",
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      "text": "This is not for lack of effort or impact by banks. The Japanese in the latter part of the last century changed the thinking on waste, cost and efficiency by introducing methods such as kaizen and kanban. And for almost 30 years now, banks have adopted these and similar tools such as Six Sigma, process re-engineering and more to improve their efficiency. These tools all had one thing in common: they depended on empirical inputs.",
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      "text": "Source: Accenture Research analysis based on FDIC, APRA and ECB",
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      "text": "Trend 10 | Beyond Six Sigma",
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