Financial Services

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A brave new world for global banking: McKinsey global banking annual review 2016

– Three formidable forces—a weak global economy, digitization and regulation—threaten to significantly lower profits for the global banking industry over the next three years, according to McKinsey's newly published 2016 Global Banking Annual Review, A Brave New World for Global Banking.

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MORE INSIGHTS

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A winning partnership: Financial institutions and strategic suppliers

– For financial institutions, working with truly strategic partners is, and should be, very different from managing other supplier... relationships.
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Insurers need to plug into the Internet of Things—or risk falling behind

– Insurance companies have a great opportunity to benefit from the new range of business models emerging due to the Internet of... Things.
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Radically simplifying the retail bank

– In retail banking, simplification attempts frequently fail to generate significant performance improvements. McKinsey research... suggests this is because simplification attempts are too narrowly focused. Meaningful benefits flow through when simplification efforts are designed, implemented and sustained on a broad scale.
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Making digital strategy a reality in insurance

– Digital transformation is challenging in insurance, where change must happen without interrupting the flow of daily business.... Here’s how savvy leaders are taking on the challenge.
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A mixed 2015 for the global payments industry

– While strong fundamentals continued, slower growth left payment revenues essentially flat in many regions last year.
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The hallmarks of digital leadership in P&C insurance

– The new bar for property and casualty carriers is not simply to invest in technology, but to focus on the practices most correlated... with strong financial and customer performance.
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How wealth managers can transform for the digital age

– Wealth-management incumbents can meet digital disruption head on by understanding core changes in their industry—and focusing... on what really matters in a digital transformation.
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Price to win under interest-rate liberalization at China’s banks

– The central bank has eased interest-rate regulations. To take advantage of the change, institutions must adopt smarter pricing... strategies.
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The silver lining: Converting stress-test tools to strategic assets

– In response to regulatory mandates, banks in the United States and Europe have developed some of the most robust risk management... and stress-testing capabilities in history. The next step is for banks to convert these capabilities into true strategic and business assets.
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Taking courageous action on cost in life insurance

– Life insurers under pressure to reduce costs can learn from the success of others—and consider radical change.
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Compliance in 2016: More than just following rules

– The traditional approach is losing effectiveness. Banks must turn the page and build a new model.

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