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The future of banks: A $20 trillion breakup opportunity

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Banking as we know it is headed for a change. The era of the one-stop-shop bank, to which a wide variety of customers would turn for all their banking needs, is over; ahead lies a new era of specialized banks serving distinct customer segments. For banks looking to weather the coming reorganization, a new article by McKinsey senior partners Miklós Dietz , Joydeep Sengupta , and their co-authors offers five areas of transformation that may be necessary for survival. But survival isn’t the only thing at stake; for banks which stick the landing, McKinsey analysis estimates a value creation opportunity of up to $20 trillion.

The future of banks: A $20 trillion breakup opportunity

Banking is radically transforming. Many banks can thrive by fundamentally changing the way that financial services are embedded into daily life.

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by "McKinsey Daily Read" <publishing@email.mckinsey.com> - 06:36 - 21 Dec 2022

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The future of banks: A $20 trillion breakup opportunity

The future of banks: A $20 trillion breakup opportunity

“When you break new ground, the first transactions are always challenging and complicated. But scale and speed are the goals for climate and conservation finance; there’s an urgency here to apply new ways of thinking to find creative solutions.”

My Rookie Moment: Flexibility

Driving growth while decarbonizing: A conversation with E.ON’s Patrick Lammers

Planning for 2023: How US-based businesses can succeed when capital and talent are constrained