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A consumer-centric approach to retail banking sales

– Scrutiny of retail banking sales practices is at a high pitch—banking leaders should also see this as an opportunity to... reset and strengthen relationships with their customers.
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The transformative power of automation in banking

– A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture... the opportunity, banks must take a strategic, rather than tactical, approach.
Report

Remaking the bank for an ecosystem world

– Global banking-industry performance has been lackluster. Now comes the hard part: the rise of nonbanking platform companies targeting... the most profitable parts of the banking value chain.
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Pathways to growth in North American retail banking

– With fintechs targeting profitable banking functions and products, North American retail banks will need strong capabilities in... areas such as advanced analytics, digital factories and customer insights in order to capture revenues.
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Reinventing small and medium-size business banking in the US

– US bank lending to SMBs has been flat in recent years, while alternative lenders have seen robust growth. If banks do not move... quickly to engage with SMBs digitally, they risk losing even more share of the market to fintechs. Banks possess a wealth of strategic advantages in the battle for SMB business, but they must actively leverage these in order to stay competitive.

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The winning formula for omnichannel banking in North America

– U.S. and Canadian banks recognize the potential for omnichannel capabilities to increase revenues, enhance customer experience... and reduce operating costs, but their progress towards making omnichannel a reality has been inconsistent. McKinsey’s perspective is that banks should focus on six imperatives in order to make a successful transition to omnichannel.
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A brave new world for global banking

– Our annual global banking review finds that a weak global economy, digitization, and regulation threaten the industry’s near-term... profitability.
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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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The road ahead: Perspectives on German banking

– The road ahead for German banks is uncertain. A number of significant trends are shaping new traffic patterns, putting pressure... on all banks—even those that weathered the financial crisis and are in good shape today. Banks that do not act to mitigate the impact of these trends will continue to struggle over the next three years.
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Raising Ukraine's productivity: Banking sector as an engine for growth

– The Ukrainian banking sector has made notable progress in introducing reforms and laying foundations for a more robust future.... Now, significant productivity gains are within reach of Ukraine's banks, which can also improve transparency, reduce informality, and increase access to capital for businesses and individuals.
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The fight for the customer: McKinsey global banking annual review 2015

– While the global banking industry has achieved a modicum of stability over the past several years, earning a record $1 trillion... in 2014 and recording a 9.5% return on equity for the third consecutive year, banks now face rising competitive threats on all sides as new technology companies and others seek to poach their customers.