Insights on Financial Services


Mobile money in emerging markets: The business case for financial inclusion

– Meeting the mobile money needs of the unbanked in emerging markets is a vast opportunity. To succeed, providers need a clear view on what drives mobile money economics, and an innovative mind-set.

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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.

Strategy at the stress-testing table for UK banks and beyond

– This spring, the Bank of England announced the Biennial Exploratory Scenario. Here’s a primer to understand key elements... of the stress test and how it can be used for strategic advantage.

How value creation is reshaping the payments industry

– The current wave of consolidation in payments is part of a long period of value creation. Over the past 15 years, ownership of... core payments processing assets has become more diverse, spanning banks, regional processors, and global organizations. We expect the trend of value creation to continue as profits rise further on the basis of strong growth, the adoption of new technology, and increased efficiency.

SME insurance in Australia—a market ripe for change

– The market for providing insurance to small and medium companies is changing quickly, necessitating that providers target customer... segments carefully.

The legal entity identifier: The value of the unique counterparty ID

– New research undertaken by McKinsey & Company and the Global Legal Entity Identifier Foundation (GLEIF) estimates that broader,... global adoption of legal entity identifiers (LEIs) could yield annual savings of over $150 million within the investment banking industry and up to $500 million for banks in the issuance of letters of credit. These findings form part of a white paper that examines the potential use cases of the LEI in streamlining legal entity identification.

Global payments 2017: Amid rapid change, an upward trajectory

– The global payments industry continues to deliver healthy growth, with underlying fundamentals such as transaction volumes and... account balances demonstrating even greater strength. This rosy scenario also lays the groundwork for significant disruption likely to alter the dynamics between financial institutions and fintechs.

Unlocking the next horizon of growth in the life insurance industry

– The industry’s growth has been flagging—but better serving mass-market and middle-market consumers could add $10 billion... in annual premiums.

Global reinsurance: Fit for the future?

– There are many opportunities for the reinsurance industry to maintain and increase its relevance, as new risks grow in importance... and global macroeconomic conditions become more complex.

The future of customer-led retail-banking distribution

– Customers are leading the way toward next-generation retail-banking distribution strategies.

A call for radical transformation in Western European private banking

– In 2016, Western Europe’s private banking industry turned in a disappointing performance in terms of both growth in assets... under management (AUM) and profitability.
Podcast - McKinsey Global Institute

Financial globalization hits a more stable, inclusive stride

– After the global financial crisis, a number of countries stepped back from the world stage, choosing to instead focus on domestic... capital while being more selective about foreign investments.

Data sharing and open banking

– The potential benefits of open banking include improved customer experience, new revenue streams, and a sustainable service model... for underserved markets.

Monetizing data: A new source of value in payments

– Payments providers are already adept at generating customer insights from data. Now, leading firms are using advanced analytics... to monetize the data itself.

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.

Mobile financial services in Africa: Winning the battle for the customer

– To compete in Africa’s diverse mobile money markets, banks must offer distinctive mobile and digital services not only in... payments and deposits, but across the spectrum of financial services.
Article - McKinsey Quarterly

A new map for strategic growth in banking

– Portfolio strategists need to look beyond economic development when eyeing new investment.

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