The future of banking: A $20 trillion opportunity | McKinsey

Until recently, big banks drove profits and growth by applying synergies, economies of scale, and access to huge pools of capital. This massive industry already manages an estimated $370 trillion in w… See more

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The Future Of Banking: A $20 Trillion Opportunity | McKinsey

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The Future Of Banks: A $20 Trillion Breakup Opportunity

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Sep 6, 2023 · The banking sector is facing a pivotal moment. Banks are historically undervalued compared to other industries, with their value now being less than one-third of others. This …

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The Future Of Banks: A $20 Trillion Breakup Opportunity

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Many banks can thrive by fundamentally changing the way that financial services are embedded into daily life. The banking sector is at a turning point. Key measures for banks are at a …

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Big Banks: Breaking Up Is Hard To Do - Forbes

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Feb 21, 2023 · As consulting firms note technology's role in ending the universal bank model, and a potential $20 trillion value creation opportunity, watch for fintechs to steal share in alternative …

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To Seize A $7 Trillion Opportunity, Banks Need Bolder …

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Jan 15, 2024 · Yet they have the opportunity to earn more than their cost of equity on a sustainable basis and increase valuations. We estimate that at least $7 trillion in value can be …

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Bank Of The Future, Mapped By McKinsey — Consulting Point

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Oct 23, 2020 · Specifically, banks should bake the emerging technology into their processes, in a bid to set free as much as $1 trillion in annual savings, McKinsey said. «To compete …

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The Future Of Banking: A $20 Trillion Opportunity - McKinsey

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Nov 8, 2023 · The future of banking: A $20 trillion opportunity – McKinsey. The banking sector is at a turning point. Key measures for banks are at a historical low point. The sector’s price-to …

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Analysts Say Future Of Banks Offers $20trn Breakup Opportunity

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Jan 2, 2023 · Zenith Bank set to raise N290bn in rights issue, public offer. July 30, 2024. Banking. CAC sets new regulations for banking sector recapitalisation. July 29, 2024. Banking. Nigeria …

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Space Is Booming. Here's How To Embrace The $1.8 Trillion …

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Apr 8, 2024 · The space economy is expected to reach $1.8 trillion by 2035 as space-enabled technologies advance. A new report, Space: The $1.8 Trillion Opportunity for Global Economic …

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Fintechs: A New Paradigm Of Growth - McKinsey

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3 Balázs Czímer, Miklós Dietz, Valéria László, and Joydeep Sengupta, “The future of banks: A $20 trillion breakup opportunity,” McKinsey Quarterly, December 20, 2022. 4 McKinsey Retail …

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Generative AI In Banking And Financial Services | McKinsey

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Dec 5, 2023 · The McKinsey Global Institute estimates that among industries globally, gen AI could add the equivalent of $2.6 trillion to $4.4 trillion annually in value across the 63 use …

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The Next Big Arenas Of Competition - McKinsey & Company

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Oct 23, 2024 · We have identified 18 potential arenas of the future that could reshape the global economy, generating $29 trillion to $48 trillion in revenues by 2040.

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McKinsey’s Global Payments Report 2024 | McKinsey

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Oct 18, 2024 · In 2023, the global payments industry handled 3.4 trillion transactions, accounting for $1.8 quadrillion in value and a revenue pool of $2.4 trillion. It grew 7 percent annually from …

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FAQs about The future of banking: A $20 trillion opportunity | McKinsey Coupon?

Is the future of banks a $20 trillion breakup opportunity?

Now comes a new whitepaper from McKinsey & Co., “The Future of Banks: A $20 Trillion Breakup Opportunity.” It takes a sobering view of the banking industry and calls for a “daunting reorganization, or breakup” of the Too Big to Fail banks if they are to withstand new challenges from fintech and Big Tech. ...

What makes a bank a successful bank of the future?

The average American still uses checks and spends weeks getting a mortgage. The average Dutch citizen pays every bill from a smartphone, opens new bank accounts online, and gets approved for a mortgage in a few days. Regional rules shape what banks can and can’t do. The successful bank of the future will be defined as a network of platforms. ...

Should banks transition to a more future-proof business model?

In the longer term, banks from traditional business models in particular will need to transition to more future-proof platforms, in which diferent business units such as everyday banking and complex financing or advisory services will be decoupled, so that banks can foster highly diferentiated customer relationships. ...

How big is the banking industry in 2022?

industry in an expanding ecosystemThe banking industry generated more than $6.5 trillion in revenues in 2022, with year-over-year growth in volume and revenue margins.9 Given the fintech market dynamics, this suggests there is still plenty of room for further growth ...

Is the banking sector at a turning point?

The banking sector is at a turning point. Key measures for banks are at a historical low point. The sector’s price-to-book value has fallen to less than one-third the value of other industries. That gap is less the result of current profitability and more about uncertain profit growth in the future. ...

How did banking perform in 2022?

Source: S&P Global; McKinsey Panorama The improvement in margins, which rose from 252 basis points in 2021 to 262 basis points in 2022, accounted for 60 percent of the revenue gains. Almost all segments of banking have seen improvements— capital markets and investment banking was the exception (Exhibit 3). ...