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.
Articles in this issue
The analytics-enabled collections model
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How leading institutions are using the power of advanced analytics and machine learning to transform collections and generate real value quickly.
How machine learning can improve pricing performance
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New analytical capabilities have the potential to transform the way banks and other payment providers price products and services.
Combating payments fraud and enhancing customer experience
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The same technological tools making fraud more pervasive in banking and payments are enabling firms to meet the challenge.
Using data to unlock the potential of an SME and mid-corporate franchise
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By mining huge reserves of customer data, banking analytics leaders are meeting the needs of hundreds of thousands of commercial customers, with new levels of convenience and cost efficiency.
Hidden figures: The quiet discipline of managing people using data
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To prevail in the renewed war for talent, banks will need to deploy new capabilities in data, analytics, and organizational science.
Using analytics to increase satisfaction, efficiency, and revenue in customer service
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Payments providers that adopt advanced analytics to develop integrated approaches to customer service are seeing significant improvements.
Designing a data transformation that delivers value right from the start
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While most companies understand the importance of analytics, fewer than 20 percent have maximized the potential and implemented AA at scale.
Building an effective analytics organization
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To maximize the potential of advanced analytics, banks and payments providers need to design an organizational structure that supports the mission.
‘All in the mind’: Harnessing psychology and analytics to counter bias and reduce risk
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A few pioneering financial institutions have applied an analytics-based approach to debiasing their business decisions, with impressive results.
Mapping AI techniques to problem types
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A view of new analytics techniques, focused on specific potential applications in business and the public sector.
Data sheet: Advanced analytics
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Advanced analytics by the numbers, and a visual scan of business uses.