
Global Fintech 2023: Reimagining the Future of Finance
In just two short decades, fintech has exploded onto the financial scene--with more dynamic growth to come.
Powerful trends are transforming payments and transaction banking. Amid an uncertain business environment, industry players are seeking to clarify the market outlook. Our payments and transaction banking consulting teams help clients navigate this shifting landscape.
The payments and transaction banking industry can expect revenue growth to be moderate in the near term. But once a sustainable recovery takes hold, revenues could soar—lifted by the ongoing transition away from cash, strong growth in e-commerce and electronic transactions, and greater innovation.
To capture this growth, incumbents will need to overcome the tough competitive landscape, where nontraditional players are jostling with banks and payments service providers to become the issuer, provider, processor, or partner of choice for customers.
Our payments and transaction banking consulting teams are uniquely positioned to advise clients in highly challenging areas.
In just two short decades, fintech has exploded onto the financial scene--with more dynamic growth to come.
The next few years could be make-or-break for some banks. If they don’t join the digital ecosystem movement, they will be consumed by it.
Financial institutions that implement digital initiatives without a strategy often have lower performance than those that aren’t pursuing digital or are just beginning their efforts.
BCG’s 20th annual study of the global payments industry examines how all participants in the payments ecosystem—including acquirers, issuers, networks, wholesale transaction banks, and fintechs—can raise their game by pursuing new strategies for growth.
BCG’s payments and transaction banking consulting leaders draw on their deep expertise in payments and transaction services, global transaction banking, transaction banking operations, and transaction banking strategy. Our leaders help clients understand and prepare for the future of transaction banking.