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As clients demand solutions to enhance their corporate treasury activities, banks are increasingly partnering with fintechs and software players. Insights on Financial Services Financial Services MORE
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
As consumer use of digital banking accelerates in Asia–Pacific, the region’s emerging markets have become the hub of banking innovation for digital business models. Insights on Financial Services Financial Services MORE
Banks are already strengthening customer relationships and lowering costs by using artificial intelligence to guide customer engagement. Insights on Financial Services Banking Artificial Intelligence MORE
The ‘next normal’ will pose challenges that banks can address through carefully planned M&A. Insights on Financial Services Banking Mergers & acquisitionsA few broad strategies offer the greatest potential. MORE
The challenges facing Germany’s banking sector are steep, but a new game plan presents the opportunity for a sustainable future for the industry. Insights on Financial Services Financial Services MORE
Leading banks have made deep-seated changes to their technology spending priorities, role mix, and talent mix, unlocking a step change in productivity. Insights on Financial Services Banking MORE
The lessons of transforming performance at one midsize US bank came down to shifting mindsets and behaviors. Transformation Insights Banking Corporate strategy 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
Regulators seeking ways to balance protection of customers’ interests, financial institutions’ risks, and their other policy objectives for digital banking can learn from early regulatory experiences. Insights on Financial Services Banking MORE
Trading as a service can make scale benefits more widely available, with opportunities for large banks and other market players. Insights on Financial Services BankingScale is crucial for capital markets sell-side firms in flow businesses. MORE
Here’s how African banks can manage the impact of COVID-19—and prepare for recovery. Middle East and Africa 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
Although banks face intense pressure from new entrants in financial services, they have an edge in resources they can use to rapidly launch their own digital businesses. Insights on Financial Services Banking MORE
Swift action and a focus on three imperatives could strengthen African banks and support recovery. Middle East and Africa Banking Middle East MORE
Midsize US banks have held their own in recent years, but competitive pressures may bring a new wave of consolidation. Those using M&A best practices will have an edge. Insights on Financial Services Financial Services MORE
The Chinese Central Bank has already begun experimenting with digital cash that could eliminate the need for paper money. Economic systems Financial markets Financial service sector Digital Article MORE
Insights on Travel, Logistics & Infrastructure Retail banking Post & parcel services Corporate strategyPostal carriers and retailers with vast distribution networks could leverage them and their deep customer relationships. 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
With growth diverging again in emerging versus developed economies, banks need to remap their market strategy. Our Insights Banking Strategy Emerging Markets MORE
For artificial intelligence to deliver value across the organization, banks need core technology that is scalable, resilient, and adaptable. Insights on Financial Services Financial Services Risk Retail & Small Business BankingBuilding that requires changes in six key areas. MORE
Banks can use APIs to generate income growth from corporate customer segments, improve customer experience, and fuel innovation. Insights on Financial Services Financial Services Disruptive Technology 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
During the pandemic, some banks have learned to reskill, at scale. Insights on Financial Services Banking OrganizationHere, they share their secrets. 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
To thrive in the AI-powered digital age, banks will need an AI-and-analytics capability stack that delivers intelligent, personalized solutions and distinctive experiences at scale in real time. MORE
In a wide-ranging interview with McKinsey’s Vijay D’Silva, Cross River’s Gilles Gade (CEO) and Adam Goller (head of fintech banking) talk tech, talent, cryptocurrency, and their role as one of the biggest US originators of Paycheck Protection Program (PPP) loans. MORE
Technology alone cannot define a successful AI bank; the AI bank of the future also needs an operating model that brings together the right talent, culture, and organizational design. MORE
COVID-19’s economic impact makes cost management critical for banks. Three actions pave the way to lower expenses while maintaining customer satisfaction. Insights on Financial Services 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
Banking Related Topics McKinsey & Company
OCTOBER 6, 2021
Leading banks have made deep-seated changes to their technology spending priorities, role mix, and talent mix, unlocking a step change in productivity. Insights on Financial Services Banking
McKinsey & Company
OCTOBER 1, 2021
Regulators seeking ways to balance protection of customers’ interests, financial institutions’ risks, and their other policy objectives for digital banking can learn from early regulatory experiences. Insights on Financial Services Banking
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McKinsey & Company
SEPTEMBER 23, 2021
The lessons of transforming performance at one midsize US bank came down to shifting mindsets and behaviors. Transformation Insights Banking Corporate strategy
McKinsey & Company
APRIL 15, 2021
Although banks face intense pressure from new entrants in financial services, they have an edge in resources they can use to rapidly launch their own digital businesses. Insights on Financial Services Banking
McKinsey & Company
MARCH 25, 2021
Swift action and a focus on three imperatives could strengthen African banks and support recovery. Middle East and Africa Banking Middle East
McKinsey & Company
AUGUST 23, 2021
During the pandemic, some banks have learned to reskill, at scale. Insights on Financial Services Banking OrganizationHere, they share their secrets.
McKinsey & Company
SEPTEMBER 2, 2021
With growth diverging again in emerging versus developed economies, banks need to remap their market strategy. Our Insights Banking Strategy Emerging Markets
McKinsey & Company
OCTOBER 10, 2021
As clients demand solutions to enhance their corporate treasury activities, banks are increasingly partnering with fintechs and software players. Insights on Financial Services Financial Services
McKinsey & Company
APRIL 27, 2021
For artificial intelligence to deliver value across the organization, banks need core technology that is scalable, resilient, and adaptable. Insights on Financial Services Financial Services Risk Retail & Small Business BankingBuilding that requires changes in six key areas.
McKinsey & Company
JULY 9, 2021
Insights on Travel, Logistics & Infrastructure Retail banking Post & parcel services Corporate strategyPostal carriers and retailers with vast distribution networks could leverage them and their deep customer relationships.
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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.
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McKinsey & Company
JULY 14, 2021
The ‘next normal’ will pose challenges that banks can address through carefully planned M&A. Insights on Financial Services Banking Mergers & acquisitionsA few broad strategies offer the greatest potential.
McKinsey
JUNE 30, 2020
Here’s how African banks can manage the impact of COVID-19—and prepare for recovery. Middle East and Africa
Harvard Business
OCTOBER 15, 2021
The Chinese Central Bank has already begun experimenting with digital cash that could eliminate the need for paper money. Economic systems Financial markets Financial service sector Digital Article
McKinsey & Company
MAY 18, 2021
Technology alone cannot define a successful AI bank; the AI bank of the future also needs an operating model that brings together the right talent, culture, and organizational design.
McKinsey & Company
MARCH 17, 2021
Trading as a service can make scale benefits more widely available, with opportunities for large banks and other market players. Insights on Financial Services BankingScale is crucial for capital markets sell-side firms in flow businesses.
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 & Company
OCTOBER 5, 2021
Banks can use APIs to generate income growth from corporate customer segments, improve customer experience, and fuel innovation. Insights on Financial Services Financial Services Disruptive Technology
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 & Company
JUNE 30, 2021
Midsize US banks have held their own in recent years, but competitive pressures may bring a new wave of consolidation. Those using M&A best practices will have an edge. Insights on Financial Services 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
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 & Company
SEPTEMBER 23, 2021
As consumer use of digital banking accelerates in Asia–Pacific, the region’s emerging markets have become the hub of banking innovation for digital business models. Insights on Financial Services 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
JULY 18, 2021
The challenges facing Germany’s banking sector are steep, but a new game plan presents the opportunity for a sustainable future for the industry. Insights on Financial Services Financial Services
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.
McKinsey & Company
SEPTEMBER 8, 2021
COVID-19’s economic impact makes cost management critical for banks. Three actions pave the way to lower expenses while maintaining customer satisfaction. Insights on Financial Services 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
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
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
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
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.
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
JULY 24, 2020
Rajnish Kumar, chairman of India’s largest bank, discusses COVID-19, digital transformation, and the future of work in financial services. Strategy & Corporate Finance Insights
McKinsey & Company
MAY 18, 2021
To thrive in the AI-powered digital age, banks will need an AI-and-analytics capability stack that delivers intelligent, personalized solutions and distinctive experiences at scale in real time.
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 & Company
JUNE 15, 2021
In a wide-ranging interview with McKinsey’s Vijay D’Silva, Cross River’s Gilles Gade (CEO) and Adam Goller (head of fintech banking) talk tech, talent, cryptocurrency, and their role as one of the biggest US originators of Paycheck Protection Program (PPP) loans.
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