Expert insights. Personalized for you.
Setting a bold vision, adapting the business to respond to market feedback, and putting customer satisfaction first has enabled digital-banking start-up N26 to grow rapidly into a global bank valued at $3.5 Digital Insights Banking Digital Growth Innovationbillion. MORE
Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. Furthermore, customers are increasingly expecting from banks much more value per dollar, better service, and seamless experiences regardless of channel. Usage of AI in the Banking Sector. As shown in the table above, the main usage of AI by banks across Canada and U.S. MORE
The global banking industry is facing a long winter, and in the coming months and perhaps years, the COVID-19 pandemic's impact will present banks with many challenges. Insights on Financial Services MORE
Scale advantages are emerging for the largest US banks; their regional peers need to build highly efficient delivery models in order to compete. Insights on Financial Services MORE
Using data to forecast food insecurity helped one food bank prepare for the worst. Food security MORE
Capital cushions at European, UK, and US banks look adequate in most scenarios—and challenged in others. In either case, they must be rebuilt, and that will require some difficult decisions. Insights on Financial Services MORE
Artificial intelligence technologies are increasingly integral to world we live in, and banks need to deploy these technologies at scale to remain relevant. Success requires a holistic transformation spanning multiple layers of the organization. Insights on Financial Services MORE
This post provides you with a high level comparison of management consulting and investment banking. Investment banks help companies raise money for various purposes including investment, acquisitions, and provision of working capital. Within an investment bank, the work is split into many roles including investment banking, sales and trading, equity research, risk management, operations, and technology. In comparison, investment banks are competitive and hierarchical. MORE
Here’s how African banks can manage the impact of COVID-19—and prepare for recovery. Middle East and Africa MORE
Tengku Zafrul Aziz, group chief executive officer and executive director of CIMB Group Holdings, discusses the challenges to traditional banking in Southeast Asia and how banks can adapt. Asia-Pacific MORE
Only ten years ago, the US retail banking industry was in the depths of the global financial crisis, as many once leading institutions struggled to survive. Since then, after bringing in billions in fresh capital, US banks have made a return to stable ground and greater liquidity. Now, however, several transformative forces are accelerating the evolution of US banking and promising to make the business more challenging in the next ten years. MORE
When news broke in late October that some of London’s largest banks were investing in Bitcoin , cryptocurrencies in general got another boost. Beyond hoarding digital currency as a defensive move in the age of DDOS bank robbers, banks are beginning to think about ways that bitcoin could be used within the banking industry globally. Bitcoin itself was created by technologists and programmers with a deep-seated mistrust of central banks themselves. MORE
The West has led the world’s banking industry in growth and innovation, but now Asia is tilting the scales. As the pace of growth slows, Asia’s banks must reinvent themselves to survive. Asia-Pacific MORE
Now is the time for Europe’s banking leaders to reimagine how their institutions operate and their role in society. Insights on Financial Services MORE
As banks rush to transform their customer experience, it’s easy to trip up. Here’s how to execute a step change that moves ahead of competitors. Insights on Financial Services MORE
As the region’s regulators increase license allocations and set standards for the next wave of digital banks, there are opportunities for both incumbents and new entrants to enter the arena. Insights on Financial Services MORE
She will be the first woman CEO of a major Wall Street investment bank. Here’s more on her career path via the New York Times: Citigroup’s Fraser to Be First Woman to Lead a Big Wall Street Bank. Thursday, Citigroup announced that they are appointing Jane Fraser to be CEO. MORE
Corporate banking is a tough business. In fact, BCG’s most recent Corporate Banking Performance Benchmarking survey—of 300 corporate banking divisions around the world serving the small, midmarket, and large business segments—found a dramatic split between the best and the rest. The corporate banking sector encompasses diverse segments within and across regions, each with varying business and economic dynamics. Report Monday, December 12, 2016. MORE
Asia’s banking customers are migrating to digital channels in force. The challenge for the region’s banks is to deliver superior digital experiences before competitors do. Insights on Financial Services MORE
The cons of investment banking – the long hours, the repetitive and unengaging nature of the work, the lack of non-finance exit opportunities – mattered far more to me than a 6-figure salary. Banking salaries average 50-100% higher than consulting salaries , with the difference increasingly significant as your seniority increases. Cashflow or not, the extra money is substantial and a defining driver of why many people do investment banking. INVESTMENT BANKING. MORE
What follows is a success story I received from a reader who transitioned from banking to consulting as an experienced hire. My background: 4 years as equity analyst, MBA, 5 years in banking in equity capital markets (IPOs and such). After getting quite disillusioned with the banking industry over the last few years, I got laid off, and had to reassess what to do next. Consulting Job Offer Reports banking experienced hire McKinsey offer success story MORE
A “wait and see” approach to transformation will not work for banks. Banks that reimagine how they engage their customers and empower their employees will emerge as leaders. Instead, it is a moment for radical creativity. MORE
The implications of the COVID-19 crisis are profound for consumer and small-business banks, and the steps they take now will shape operations long into the future. Here is where to start. Insights on Financial Services MORE
The financial services industry has seen drastic technology-driven change over the past few years, and digital has fundamentally reshaped consumer behaviour in banking. According to Oliver Wyman, a global management consulting firm, 90% of Canadian banking customers use digital channels and more than 30% are now banking exclusively virtually. However, customer expectations are high and it is difficult for banks to decide which technologies to focus on. MORE
Four important trends are changing the terms of success in retail banking. Banks need to act now to develop new skills. Insights on Financial Services MORE
Indonesian consumers are embracing digital banking. To attract them, banks need to take an active approach. Insights on Financial Services MORE
European private banks were already feeling pressure to revitalize. Now that the pandemic has accelerated changes in the expectations of clients and employees, the industry will need to accelerate its transformation. Insights on Financial Services MORE
Updated annually, our Global Banking Annual Review offers the best of our research and insights into the global banking industry. Explore the findings from our most recent report and scroll for past years’ reports. Insights on Financial Services MORE
More than regulatory pressure is driving banks to manage climate risk. Financing a green agenda is also a commercial imperative—but specialized skills are needed to protect balance sheets. Risk Insights MORE
Banking Related Topics McKinsey & Company
FEBRUARY 26, 2021
Setting a bold vision, adapting the business to respond to market feedback, and putting customer satisfaction first has enabled digital-banking start-up N26 to grow rapidly into a global bank valued at $3.5 Digital Insights Banking Digital Growth Innovationbillion.
McKinsey
DECEMBER 9, 2020
Updated annually, our Global Banking Annual Review offers the best of our research and insights into the global banking industry. Explore the findings from our most recent report and scroll for past years’ reports. Insights on Financial Services
McKinsey
JUNE 30, 2020
Here’s how African banks can manage the impact of COVID-19—and prepare for recovery. Middle East and Africa
Tom Spencer
MAY 8, 2016
This post provides you with a high level comparison of management consulting and investment banking. Investment banks help companies raise money for various purposes including investment, acquisitions, and provision of working capital. Within an investment bank, the work is split into many roles including investment banking, sales and trading, equity research, risk management, operations, and technology. In comparison, investment banks are competitive and hierarchical.
McKinsey
OCTOBER 9, 2020
Banks can meet rising customer expectations by applying AI to offer intelligent propositions and smart servicing that can seamlessly embed in partner ecosystems.
McKinsey
SEPTEMBER 20, 2018
Banks have a strong foundation in using data. New research reveals how they can get even more from their analytics investments. Insights on Financial Services
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McKinsey
JULY 1, 2020
Banks need to do more in four important areas of data culture to build the risk-related data-control capabilities they will need in the coming decade. Risk Insights
McKinsey
NOVEMBER 24, 2020
A joint report from McKinsey and the Euro Banking Association examines the options for banks in a changing landscape. Insights on Financial Services
McKinsey
JUNE 12, 2020
Retail banks have a prominent role to play in guiding the world toward economic recovery, while preserving the health of their organizations. Insights on Financial Services
CaseInterview.com
SEPTEMBER 26, 2019
What follows is a success story I received from a reader who transitioned from banking to consulting as an experienced hire. My background: 4 years as equity analyst, MBA, 5 years in banking in equity capital markets (IPOs and such). After getting quite disillusioned with the banking industry over the last few years, I got laid off, and had to reassess what to do next. Consulting Job Offer Reports banking experienced hire McKinsey offer success story
McKinsey
SEPTEMBER 19, 2020
Artificial intelligence technologies are increasingly integral to world we live in, and banks need to deploy these technologies at scale to remain relevant. Success requires a holistic transformation spanning multiple layers of the organization. Insights on Financial Services
|
|
McKinsey
SEPTEMBER 30, 2020
A “wait and see” approach to transformation will not work for banks. Banks that reimagine how they engage their customers and empower their employees will emerge as leaders. Instead, it is a moment for radical creativity.
McKinsey & Company
DECEMBER 22, 2020
The global banking industry is facing a long winter, and in the coming months and perhaps years, the COVID-19 pandemic's impact will present banks with many challenges. Insights on Financial Services
McKinsey
JUNE 2, 2020
More than regulatory pressure is driving banks to manage climate risk. Financing a green agenda is also a commercial imperative—but specialized skills are needed to protect balance sheets. Risk Insights
McKinsey
JULY 29, 2020
Capital cushions at European, UK, and US banks look adequate in most scenarios—and challenged in others. In either case, they must be rebuilt, and that will require some difficult decisions. Insights on Financial Services
McKinsey
FEBRUARY 19, 2019
Four important trends are changing the terms of success in retail banking. Banks need to act now to develop new skills. Insights on Financial Services
Tom Spencer
NOVEMBER 5, 2016
When news broke in late October that some of London’s largest banks were investing in Bitcoin , cryptocurrencies in general got another boost. Beyond hoarding digital currency as a defensive move in the age of DDOS bank robbers, banks are beginning to think about ways that bitcoin could be used within the banking industry globally. Bitcoin itself was created by technologists and programmers with a deep-seated mistrust of central banks themselves.
McKinsey & Company
JANUARY 26, 2021
As the region’s regulators increase license allocations and set standards for the next wave of digital banks, there are opportunities for both incumbents and new entrants to enter the arena. Insights on Financial Services
McKinsey
JUNE 7, 2019
Caution is understandable when it comes to blockchain, but there are a number of areas where the technology could create value for retail banks. Insights on Financial Services
Tom Spencer
JUNE 16, 2018
The financial services industry has seen drastic technology-driven change over the past few years, and digital has fundamentally reshaped consumer behaviour in banking. According to Oliver Wyman, a global management consulting firm, 90% of Canadian banking customers use digital channels and more than 30% are now banking exclusively virtually. However, customer expectations are high and it is difficult for banks to decide which technologies to focus on.
McKinsey
FEBRUARY 12, 2020
The West has led the world’s banking industry in growth and innovation, but now Asia is tilting the scales. As the pace of growth slows, Asia’s banks must reinvent themselves to survive. Asia-Pacific
McKinsey
FEBRUARY 12, 2020
Tengku Zafrul Aziz, group chief executive officer and executive director of CIMB Group Holdings, discusses the challenges to traditional banking in Southeast Asia and how banks can adapt. Asia-Pacific
Management Consulted
DECEMBER 16, 2008
The cons of investment banking – the long hours, the repetitive and unengaging nature of the work, the lack of non-finance exit opportunities – mattered far more to me than a 6-figure salary. Banking salaries average 50-100% higher than consulting salaries , with the difference increasingly significant as your seniority increases. Cashflow or not, the extra money is substantial and a defining driver of why many people do investment banking. INVESTMENT BANKING.
McKinsey
MAY 19, 2020
Now is the time for Europe’s banking leaders to reimagine how their institutions operate and their role in society. Insights on Financial Services
McKinsey
SEPTEMBER 5, 2017
The potential benefits of open banking include improved customer experience, new revenue streams, and a sustainable service model for underserved markets. Our Insights
Tom Spencer
JUNE 16, 2018
Before we dive into why AI is the solution for the banking sector, let’s first explore what big tech companies have in common, how many of them have grown successfully, and what banks can learn. Furthermore, customers are increasingly expecting from banks much more value per dollar, better service, and seamless experiences regardless of channel. Usage of AI in the Banking Sector. As shown in the table above, the main usage of AI by banks across Canada and U.S.
McKinsey
JULY 20, 2020
European private banks were already feeling pressure to revitalize. Now that the pandemic has accelerated changes in the expectations of clients and employees, the industry will need to accelerate its transformation. Insights on Financial Services
McKinsey
APRIL 24, 2019
Scale advantages are emerging for the largest US banks; their regional peers need to build highly efficient delivery models in order to compete. Insights on Financial Services
McKinsey
APRIL 12, 2018
Banks that know where to look can find new sources of untapped value. Digital Insights
McKinsey
JULY 19, 2019
A look at how leading banks outperform in the world’s fastest-growing banking market. Insights on Financial Services
CaseInterview.com
SEPTEMBER 12, 2020
She will be the first woman CEO of a major Wall Street investment bank. Here’s more on her career path via the New York Times: Citigroup’s Fraser to Be First Woman to Lead a Big Wall Street Bank. Thursday, Citigroup announced that they are appointing Jane Fraser to be CEO.
McKinsey
OCTOBER 10, 2018
As banks rush to transform their customer experience, it’s easy to trip up. Here’s how to execute a step change that moves ahead of competitors. Insights on Financial Services
McKinsey
APRIL 25, 2020
Banks can respond to this moment and reshape their workforce norms and culture to come out stronger than before. Insights on Financial Services
McKinsey
MARCH 25, 2020
The implications of the COVID-19 crisis are profound for consumer and small-business banks, and the steps they take now will shape operations long into the future. Here is where to start. Insights on Financial Services
McKinsey
APRIL 12, 2018
Asia’s banking customers are migrating to digital channels in force. The challenge for the region’s banks is to deliver superior digital experiences before competitors do. Insights on Financial Services
McKinsey
FEBRUARY 12, 2019
Indonesian consumers are embracing digital banking. To attract them, banks need to take an active approach. Insights on Financial Services
McKinsey
OCTOBER 15, 2020
Using data to forecast food insecurity helped one food bank prepare for the worst. Food security
McKinsey
NOVEMBER 2, 2017
A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture the opportunity, banks must take a strategic, rather than tactical, approach. Our Insights
BCG
DECEMBER 12, 2016
Corporate banking is a tough business. In fact, BCG’s most recent Corporate Banking Performance Benchmarking survey—of 300 corporate banking divisions around the world serving the small, midmarket, and large business segments—found a dramatic split between the best and the rest. The corporate banking sector encompasses diverse segments within and across regions, each with varying business and economic dynamics. Report Monday, December 12, 2016.
McKinsey
OCTOBER 2, 2019
Only ten years ago, the US retail banking industry was in the depths of the global financial crisis, as many once leading institutions struggled to survive. Since then, after bringing in billions in fresh capital, US banks have made a return to stable ground and greater liquidity. Now, however, several transformative forces are accelerating the evolution of US banking and promising to make the business more challenging in the next ten years.
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