Disrupting the disruptors: Business building for banks

McKinsey & Company

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

African banking in the new reality

McKinsey & Company

Swift action and a focus on three imperatives could strengthen African banks and support recovery. Middle East and Africa Banking Middle East

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AI-powered decision making for the bank of the future

McKinsey & Company

Banks are already strengthening customer relationships and lowering costs by using artificial intelligence to guide customer engagement. Insights on Financial Services Banking Artificial Intelligence

Beyond digital transformations: Modernizing core technology for the AI bank of the future

McKinsey & Company

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.

How ‘trading as a service’ unlocks opportunities for banks

McKinsey & Company

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.

Building and scaling one of the world’s fastest-growing mobile banks

McKinsey & Company

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.

Consulting or Banking

Tom Spencer

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.

African banking after the crisis

McKinsey

Here’s how African banks can manage the impact of COVID-19—and prepare for recovery. Middle East and Africa

From Banking to Consulting

CaseInterview.com

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

At the intersection of banking and technology: A conversation with Cross River Bank

McKinsey & Company

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.

Optimizing data controls in banking

McKinsey

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.

Reshaping retail banking for the next normal

McKinsey

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

Retail 114

McKinsey’s Global Banking Annual Review

McKinsey

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

Charting retail banking revenues by generation

McKinsey & Company

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

Banking imperatives for managing climate risk

McKinsey

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

Banking without Banks: Decentralized Finance is Coming

Harvard Business

Transparency and trust are at the core of the decentralized finance revolution. Currency Economics Technology Audio

Smarter analytics for banks

McKinsey

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

Reimagining customer engagement for the AI bank of the future

McKinsey

Banks can meet rising customer expectations by applying AI to offer intelligent propositions and smart servicing that can seamlessly embed in partner ecosystems.

Bitcoin, Digital Currency and The Future of Banking

Tom Spencer

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.

Transforming the US consumer bank for the next normal

McKinsey

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.

Management Consulting versus Investment Banking

Management Consulted

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.

Is AI the Solution for the Banking Sector? (Part I: Problems)

Tom Spencer

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.

Introduction: Building the AI bank of the future

McKinsey & Company

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.

How the State Bank of India is learning from crisis

McKinsey

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

The future of banking in ASEAN

McKinsey

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.

Is AI the Solution for the Banking Sector? (Part 2: Solution)

Tom Spencer

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.

The future of European payments: Strategic choices for banks

McKinsey

A joint report from McKinsey and the Euro Banking Association examines the options for banks in a changing landscape. Insights on Financial Services

How Asia is reinventing banking for the digital age

McKinsey

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.

AI-bank of the future: Can banks meet the AI challenge?

McKinsey

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

No going back: New imperatives for European banking

McKinsey

Now is the time for Europe’s banking leaders to reimagine how their institutions operate and their role in society. Insights on Financial Services

Joining the next generation of digital banks in Asia

McKinsey & Company

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

First Woman CEO of an Investment Bank

CaseInterview.com

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.

Global Corporate Banking 2016: The Next-Generation Corporate Bank

BCG

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.

Rewriting the rules in retail banking

McKinsey

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

Podcast: African banking in the new reality

McKinsey & Company

The COVID-19 crisis will not leave the banking sector unscathed. As African banks chart their paths to recovery in this new reality, they can act swiftly to manage elements that are within their control to shape their recovery and growth trajectory. The past year has seen the acceleration of seismic trends ranging from deglobalization and a radical shift in the macroenvironment to transformed customer expectations.

Banking system resilience in the time of COVID-19

McKinsey

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

Shaping and safeguarding the banking workforce after COVID-19

McKinsey

Banks can respond to this moment and reshape their workforce norms and culture to come out stronger than before. Insights on Financial Services

Leading a consumer bank through the coronavirus pandemic

McKinsey

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.

Banking on Digital Simplicity

BCG

Despite a tentative financial recovery, the retail-banking industry faces unrelenting, disruptive challenges. Banks that hope to prevail must urgently pursue digital simplicity. That mandate for digital simplicity is the central insight emerging from the research behind this sixth edition of BCG’s annual Global Retail Banking report. BCG Banking Pools data shows that global retail-banking revenues rose 3% in 2015, to nearly $1.6 Report Tuesday, May 10, 2016.

Blockchain and retail banking: Making the connection

McKinsey

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