Michael Strauß
Managing Director & Partner
Cologne
Michael Strauss joined Boston Consulting Group in 2003. He is a member of the Financial Institutions practice and focuses on large-scale change. Michael leads BCG’s work in wholesale and transaction banking.
At BCG, Michael has worked extensively with clients in corporate banking and capital markets on strategic projects addressing coverage and sales strategies, strategic asset class reviews, and growth initiatives. He has also worked on several post-merger integrations and on optimizations for target operating models (TOMs), and IT target architectures.
The pandemic has accelerated the inevitable; the AI revolution is overtaking banking as we knew it. Banks that don’t transform stand to lose market share to faster, nimbler tech players.
Despite crisis-related dislocations, payments players can unleash long-term growth by acting decisively now to mitigate near-term risks, gain scale, and deliver superior customer impact.
Although the payments space will enjoy steady growth overall, the outlook for individual players is less assured. As competition intensifies, success will hinge on digitization, scale, and fast-expanding markets.
Because digital solutions make it easier to send and receive money, they boost economic activity. Policymakers and companies should take steps now to accelerate adoption.
The world of transaction banking and payments is being transformed. At stake are $1 trillion in new global revenues by 2027. Explore this interactive to learn how the market will evolve.
Simple, straightforward transactions like the ones they enjoy on retail websites. But most corporate banks lag far behind when it comes to offering convenient online tools.
What do retail and wholesale banks gain by tackling customer pain points? Their share of $1 trillion in new revenue over ten years.
Investment banks need to transform themselves if they hope to compete in the broad-based capital markets industry of tomorrow.
