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Article - McKinsey Institute for Black Economic Mobility

Investing in—and with—Black consumers in financial services

– Financial-services companies—specifically in banking and insurance—have an opportunity to address equity and gain... commercial benefits by better serving Black consumers.

Best of both worlds: Balancing digital and physical channels in retail banking

– Banking distribution needs to account for the evolving interdependencies between channels. Accelerating digital and upgrading... the physical experience to “phygital” offers a viable solution.

Merchant acquiring and the $100 billion opportunity in small business

– What will it take to grow in the age of value-added services? Our work with payments practitioners suggests a few promising strategies... for serving smaller companies.

Emerging markets leap forward in digital banking innovation and adoption

– As consumer use of digital banking accelerates in Asia–Pacific, the region’s emerging markets have become the hub... of banking innovation for digital business models.

German banking returns to the playing field

– The challenges facing Germany’s banking sector are steep, but a new game plan presents the opportunity for a sustainable... future for the industry.

Financial services unchained: The ongoing rise of open financial data

– If open finance continues to accelerate, it could reshape the global financial services ecosystem, change the very idea of banking,... and increase pressure on incumbents.

US midcap banking: The shakeout ahead?

– Midsize US banks have held their own in recent years, but competitive pressures may bring a new wave of consolidation. Those using... M&A best practices will have an edge.

Five retail banking products that unite value and a sense of purpose

– As increasing numbers of customers look for products and services with positive social or environmental impacts, banks can add... value through innovation.

Disrupting the disruptors: Business building for banks

– Although banks face intense pressure from new entrants in financial services, they have an edge in resources they can use to rapidly... launch their own digital businesses.

A 2021 risk agenda for boards of directors at US banks

– The risks facing banks are likely to intensify in three key areas in 2021. Boards of directors can help their institutions get... ready to manage the changing risk environment.

Transforming the US consumer bank for the next normal

– A “wait and see” approach to transformation will not work for banks. Instead, it is a moment for radical creativity.... Banks that reimagine how they engage their customers and empower their employees will emerge as leaders.
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