Banking December 9, 2021In financial services, outperformers have gained $1.3 trillion in market cap since March 2020. But 70 percent of that has gone to nonbanks. A group of 32 institutions, dominated by payments firms, exchanges, and securities houses, has captured the fancy of investors. We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Capital markets’ message to financial institutions: Differentiate or perish,” September 28, 2021.