Insights on Financial Services

Article

Blockchain’s Occam problem
– Blockchain has yet to become the game-changer some expected. A key to finding the value is to apply the technology only when it is the simplest solution available.
Article

The balancing act: Omnichannel excellence in retail banking
– To capture the full value of digital distribution, banks need to make sure the human touch is still part of the equation.
Report

Banks in the changing world of financial intermediation
– Banks sit at the center of a vast, complex system that intermediates more than $250 trillion in global funds. What happens when... the system itself is significantly streamlined and reshaped?
Article

What’s new and what’s not in US wealth management
– The US wealth management industry is poised for growth over the next decade.
Article

Digital insurance in 2018: Driving real impact with digital and analytics
– Highlights from articles this year show the progress that has been made in reinventing the insurance landscape—and suggest... more disruption to come.
Article

Synergy and disruption: Ten trends shaping fintech
– As the fintech landscape continues to evolve, a look at the newest developments from across the globe.
Article

Corporate and investment banking in Mexico: Delivering value through new models
– Mexico is among the most profitable markets for corporate and investment banks, and prospects are strong. However, the terms of... success are changing.
Article

Full speed ahead in European asset management
– Three types of firms made the most of another banner year in European asset management. Lagging performers should take note.
Report

The new Great Game in North American asset management
– The competitive landscape is being reset by a small group of visionary asset managers jockeying to deliver distinctive propositions... at scale.

Featured publications

Issue

McKinsey on Payments: Special edition on advanced analytics in banking
– This issue of our long-running journal focuses on the crucial role of analytics in banking and payments.
Collection

Digital disruption in insurance: Cutting through the noise
Regulation, product complexity, and insurers’ large balance sheets have kept digital attackers from insurers’ gates. That is changing, but in ways incumbents should embrace. They can flourish in the digital age—if they move swiftly and decisively.

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MORE INSIGHTS

Article

The compliance function at an inflection point
– McKinsey’s benchmarking survey of leading banks helped identify five steps toward transforming the efficiency and effectiveness... of the compliance function.
Article

Fighting back against synthetic identity fraud
– Digging deep into the data trails people leave behind can help banks detect whether their customers are real or not and stem losses... from this fast-growing financial crime.
Article

The transformation of global acquiring
– The traditional acquirer processing model is destined to become commoditized and less profitable. Established firms will need... to choose from among set of distinct strategies in order to compete.
Article

Friends or foes: The rise of European aggregators and their impact on traditional insurers
– After grappling with aggregators for 20 years, many European insurers have embraced them as an effective way to reach customers.... We estimate that today almost 50 percent of online insurance in Europe is sold via aggregators. The implications for insurers are significant.
Interview - McKinsey Quarterly

Building a tech-enabled ecosystem: An interview with Ping An’s Jessica Tan
– A culture of innovation and failing fast drives the Chinese financial conglomerate’s expansion beyond traditional sector... boundaries and its early adoption of emerging technologies.
Article

The insurance agency of the future: Building a digital service model
– For leading insurance carriers to keep up with customers and competitors, they must prioritize digital transformation—and they... can begin by implementing technologies in four areas.
Article

Achieving digital alpha in asset management
– The ability to generate value through digitization will increasingly separate leaders and followers in North American asset management.
Article

New technology, new rules: Reimagining the modern finance workforce
– Innovations in technology and management practice are creating new opportunities for the finance function to add value to the... business. Here’s how finance teams will need to evolve to make the most of them.
Interactive

Where the life insurance industry can go from here
– Our annual life insurance and annuities review finds that the industry is poised for growth but will need to improve its capacity... for bold resource allocation and productivity improvement.
Article

Mapping AI techniques to problem types
– A view of new analytics techniques, focused on specific potential applications in business and the public sector.
Article

‘All in the mind’: Harnessing psychology and analytics to counter bias and reduce risk
– A few pioneering financial institutions have applied an analytics-based approach to debiasing their business decisions, with impressive... results.
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