Beethoven, Schubert, and Bank Technology Modernization
Most banks know what their technology landscape needs to look like. The question is how to execute a transformation without stalling business development for three years or more.
Most banks know what their technology landscape needs to look like. The question is how to execute a transformation without stalling business development for three years or more.
By delivering innovative services based on blockchain, financial institutions can meet customer demand and lead in managing risk.
The pandemic has radically reset the pace of change in the banking industry. To keep up, a new approach is needed—fast.
BCG’s approach delivers greater efficiency, an improved customer experience, and a more engaged workforce, enabling banks to meet today’s challenges.
COVID-19 and the New Leadership Agenda
The COVID-19 outbreak underscores the need to be resilient in the face of transformative global risk.
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.
This year marks the 20th anniversary of BCG’s Global Wealth report. Our 20-year vantage point allows us to identify important patterns in the nature of wealth growth and provide an outlook on the years ahead.
Alternatives continued to be one of the strongest-performing asset classes overall in 2019, but not all alternatives are created equal.
Risk, treasury, and compliance can help banks return to profitability. But success will require digitizing beyond the edges and redesigning core processes.
The pandemic is pumping the brakes on M&A, but activity will rebound and likely accelerate. Banks should be bold and ready.
Following the lead of successful B2C service providers in other sectors could generate improvement as high as 10% to 15% of current daily banking revenue.
Cultural transformation is difficult—but not impossible. RBC CEO Dave McKay explains how a shock to the system can deliver change.
Consumers increasingly want all their needs met with a tap on their smartphone. They may vote with their feet if banks don’t deliver.
White families in the United States have a median wealth nearly 10 times greater than that of Black families. BCG Managing Director & Partner Kedra Newsom Reeves explores this racial wealth inequality, and outlines how financial institutions can support Black Americans.
For too long, wealth managers have looked at the women’s segment through a marketing lens. But women don’t want pink products. They want individualized service. Advisors that fail to adapt will miss out on a $93 trillion opportunity.
Today’s leading firms achieve stronger revenue growth by treating pricing as a capability they can adjust in response to varying client needs.
Foreign asset managers may now expand into China, but they must tailor their strategy to the market’s unique characteristics.
CIBs that take action in six critical areas can dramatically improve their cost-to-income ratios and returns on equity, creating a more prosperous and sustainable future.
Given the profound changes sweeping the industry landscape, it’s time for banks to reinvent themselves.
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.
By targeting high-value clients and creating agile client teams, CIBs can repurpose these divisions to achieve double-digit revenue gains and increase wallet share.
By embracing mobile payments and related services, African banks can build their competitive advantage and take a leadership role in revitalizing their economies.
Entrepreneurs who offer banking via mobile devices could finally put financial services within reach for 1.7 billion adults around the globe.
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.
Climate finance market structure must grow at an unprecedented scale to meet the investment needs of transitioning to a low-carbon economy. The Global Financial Markets Association (GFMA) & BCG outline the necessary market-wide and sector-specific steps for successful acceleration.
Closing the wealth gap demands radical disruption in the way financial organizations and investors prioritize, target, and invest in Black consumers.
For now, corporate sustainability spending may be curtailed. But investors believe that in the long run, ESG will remain a powerful driver of portfolio performance.
To navigate through the COVID-19 storm, financial institutions need to adopt a transformation agenda. Within this agenda, data science offers a GPS to replace traditional compasses that have been rendered ineffective by the crisis.
