A new survey by credit card specialist Fraedom shows that 80 percent of banks believe challengers have impacted their business and 30 percent say they are their biggest threat; almost 50 percent of bankers say their legacy technology is holding them back; banks spend about 80 percent of their technology budgets on maintenance; BB&T CEO Kelly King recently explained in a shareholder letter, “”In the last three years I’ve seen more change in banking than in my previous 42 years at BB&T. And that’s saying a lot.” Source.