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What is central bank digital currency (CBDC)?

McKinsey & Company

CBDCs are digital currencies issued by central banks. McKinsey Explainers BankingTheir value is linked to the issuing country’s official currency.

Banking 123
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African banking: The productivity opportunity

McKinsey & Company

African banks can increase their productivity to enhance competitiveness, build resilience, and deliver new value to customers—even in the face of a tightening global business environment. Insights on Financial Services Banking Africa

Banking 117
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The future of banks: A $20 trillion breakup opportunity

McKinsey & Company

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

Banking 143
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Reshaping retail banks: Enhancing banking for the next digital age

McKinsey & Company

The current model of universal retail banking is unsustainable over the long term. To thrive, banks need to reinvent themselves, focusing on businesses where they can achieve and extend market leadership in the new digital world.

Banking 126
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How Asian banks are rethinking the payments game

McKinsey & Company

Specialist players are disrupting payments and challenging banks to find a new playbook. Insights on Financial Services Banking Asia-Pacific

Banking 119
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Life-centric banking with an analytics edge

McKinsey & Company

Bank Jago’s Peterjan van Nieuwenhuizen explains the value a life-centric banking approach has for AI banks. Insights on Financial Services Banking Asia-Pacific Artificial Intelligence Leadership Innovation

Banking 97
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Central bank digital currencies: An active role for commercial banks

McKinsey & Company

With central banks increasingly exploring central bank digital currencies (CBDCs), now is the time for commercial banks to establish their role in a fast-changing landscape.

Banking 124
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Unlocking the banking technology workforce

McKinsey & Company

Leading banks have made deep-seated changes to their technology spending priorities, role mix, and talent mix, unlocking a step change in productivity. Insights on Financial Services Banking

Banking 127
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The data and analytics edge in corporate and commercial banking

McKinsey & Company

As corporate and commercial banks serve increasingly complex needs, new data- and analytics-powered tools can help the front line understand their customers and improve sales. Insights on Financial Services Banking Analytics

Banking 79
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Disrupting the disruptors: Business building for banks

McKinsey & Company

Although banks face intense pressure from new entrants in financial services, they have an edge in resources they can use to rapidly launch their own digital businesses. Insights on Financial Services Banking

Banking 145
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Banking on the ‘soft stuff’

McKinsey & Company

The lessons of transforming performance at one midsize US bank came down to shifting mindsets and behaviors. Transformation Insights Banking Corporate strategy

Banking 97
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African banking in the new reality

McKinsey & Company

Swift action and a focus on three imperatives could strengthen African banks and support recovery. Middle East and Africa Banking Middle East

Banking 130
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Strategic M&A in US banking: Creating value in uncertain times

McKinsey & Company

Four actions can help banks maximize the value of their M&A. Insights on Financial Services Financial Services Banking Mergers & acquisitionsUncertain times can spell opportunity for companies seeking acquisitions—if companies proceed with care.

Banking 99
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Lessons from the rapidly evolving regulation of digital banking

McKinsey & Company

Regulators seeking ways to balance protection of customers’ interests, financial institutions’ risks, and their other policy objectives for digital banking can learn from early regulatory experiences. Insights on Financial Services Banking

Banking 145
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Best of both worlds: Balancing digital and physical channels in retail banking

McKinsey & Company

Banking distribution needs to account for the evolving interdependencies between channels. Insights on Financial Services Retail banking DigitalAccelerating digital and upgrading the physical experience to “phygital” offers a viable solution.

Banking 144
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Extending upmarket in US commercial banking

McKinsey & Company

Serving larger commercial clients is a significant growth opportunity for US midcap and regional banks—with the right strategy in place. Insights on Financial Services Banking North and Central America

Banking 80
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Indonesia and Islamic banking: An interview with Hery Gunardi

McKinsey & Company

The CEO of the newly merged Bank Syariah Indonesia (BSI) describes how digital and mobile capabilities unlock new opportunities for Islamic banking within Indonesia—and beyond. M&A Insights Banking Indonesia Mergers & acquisitions

Banking 111
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AI-powered decision making for the bank of the future

McKinsey & Company

Banks are already strengthening customer relationships and lowering costs by using artificial intelligence to guide customer engagement. Insights on Financial Services Banking Artificial Intelligence

Banking 143
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European private banking: Resilient models for uncertain times

McKinsey & Company

After one of its most successful years, Europe’s private banking industry will now need to navigate an uncertain macroeconomic outlook and evolving client needs.

Banking 124
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Should US banks be moving to next-generation core banking platforms?

McKinsey & Company

Banks today urgently need a new core platform, but building one is time-consuming, expensive, and uncertain. It may help to think strategically and pursue a two-track process. Insights on Financial Services Financial Services

Banking 139
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How banks can build their future workforce—today

McKinsey & Company

During the pandemic, some banks have learned to reskill, at scale. Insights on Financial Services Banking OrganizationHere, they share their secrets.

Banking 106
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In banking, location is everything again—for now

McKinsey & Company

With growth diverging again in emerging versus developed economies, banks need to remap their market strategy. Our Insights Banking Strategy Emerging Markets

Banking 105
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Australian Banking Association’s CEO faces uncertainty head on

McKinsey & Company

Future of Asia Banking Asia-Pacific LeadershipAnna Bligh, who formerly served as premier of Queensland, is no stranger to crisis. She explains how tough times can be an opportunity for positive change.

Banking 71
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How DBS Became the ‘World’s Best Bank’

INSEAD Knowledge

The Singapore titan’s tech-charged quest to take the banking out of banking has paid off handsomely

Banking 134
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Digital transformation comes to food banks

McKinsey & Company

The Greater Boston Food Bank’s $5 million reinvention as a digital-first enterprise has one overriding goal—to put more of its resources toward ending hunger.

Banking 143
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Sustainability in global transaction banking: A market imperative

McKinsey & Company

Sustainable financial products can propel revenue growth for banks and contribute substantially to businesses’ progress in meeting global climate goals.

Banking 130
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Bracing for headwinds: How banks can navigate disruption

McKinsey & Company

Senior partner Joydeep Sengupta discusses how banks can navigate headwinds and capture opportunities in the next 12 to 18 months. Videos Asia-Pacific

Banking 102
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How transaction banks are reinventing treasury services

McKinsey & Company

As clients demand solutions to enhance their corporate treasury activities, banks are increasingly partnering with fintechs and software players. Insights on Financial Services Financial Services

Fintech 119
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Power up: How Southeast Asia’s largest bank is becoming AI-fueled

McKinsey & Company

Insights on Artificial Intelligence Banking Analytics Digital strategy and organization Growth LeadershipDBS’s chief analytics officer explains how MLOps and other efforts are enabling the organization to crack the code on scaling AI.

Banking 86
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What the Silicon Valley Bank (SVB) collapse means for our customers and partners

Impact

The entire technology industry and world is watching as the fallout from the unfortunate collapse of Silicon Valley Bank (SVB) has had wide-ranging effects throughout the technology and startup ecosystem.

Banking 98
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How Asian banks can regain the cross-border payments crown

McKinsey & Company

To retake a leading position in regional cross-border payments, Asian banks need to focus on growth areas, provide differentiated services, and update their operating models to match fintechs.

Fintech 81
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Platform operating model for the AI bank of the future

McKinsey & Company

Technology alone cannot define a successful AI bank; the AI bank of the future also needs an operating model that brings together the right talent, culture, and organizational design.

Banking 144
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Beyond digital transformations: Modernizing core technology for the AI bank of the future

McKinsey & Company

For artificial intelligence to deliver value across the organization, banks need core technology that is scalable, resilient, and adaptable. Insights on Financial Services Financial Services Risk Retail & Small Business BankingBuilding that requires changes in six key areas.

Banking 111
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Banks’ core technology conundrum reaches an inflection point

McKinsey & Company

The founder and CEO of Thought Machine talks with McKinsey about how advances in cloud-based solutions are helping banks meet the technology challenge. Insights on Financial Services Financial Services Agile at scale Growth Innovation IT enablement Digital strategy and organization Customer experience & loyalty

Banking 72
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Charting retail banking revenues by generation

McKinsey & Company

The global banking industry is facing a long winter, and in the coming months and perhaps years, the COVID-19 pandemic's impact will present banks with many challenges. Insights on Financial Services

Banking 101
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Emerging markets leap forward in digital banking innovation and adoption

McKinsey & Company

As consumer use of digital banking accelerates in Asia–Pacific, the region’s emerging markets have become the hub of banking innovation for digital business models. Insights on Financial Services Financial Services

Banking 111
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Perspectives on model risk management of cybersecurity solutions in banking

McKinsey & Company

The sooner banks start their journey and establish an effective approach to model risk management of cybersecurity solutions, the quicker they will be able to manage risk and establish controls.

Banking 96
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US midcap banking: The shakeout ahead?

McKinsey & Company

Midsize US banks have held their own in recent years, but competitive pressures may bring a new wave of consolidation. Those using M&A best practices will have an edge. Insights on Financial Services Financial Services

Banking 99
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Building and scaling one of the world’s fastest-growing mobile banks

McKinsey & Company

Setting a bold vision, adapting the business to respond to market feedback, and putting customer satisfaction first has enabled digital-banking start-up N26 to grow rapidly into a global bank valued at $3.5 Digital Insights Banking Digital Growth Innovationbillion.

Banking 100
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How ‘trading as a service’ unlocks opportunities for banks

McKinsey & Company

Trading as a service can make scale benefits more widely available, with opportunities for large banks and other market players. Insights on Financial Services BankingScale is crucial for capital markets sell-side firms in flow businesses.

Banking 74