The retail banking industry is starting to restructure into digital banking. However the price to pay for the technological workforce progress is the loss of jobs. The recent news that Standard Bank has planned to shut down 91 of its branches across the country will result in job losses of 1 200 people. More banking institutions are going to follow in suit and for more on this CNBC Africa is joined by Joe Kokela, General Secretary of the Finance Union of South Africa (SASBO).