As the end of LIBOR gets closer, are banks ready for RFRs? PwC has recently designed and concluded a global survey and subsequent roundtable events on the transition readiness. These were completed with a particular focus on contracts and client outreach and how to operationalise these changes into the banks’ business processes and systems. Topics which the FCA and PRA have highlighted as the key focus areas in their recent Dear CEO letter. Laura Talvitie talks to Akhilesh Khera, Partner leading our Business Process & Systems Change work, Karyn Daud, Partner leading our Contracts & Client outreach work, and Lisa Dhanani, Director and the UK COO for LIBOR Transition in PwC.