McKinsey & Company
McKinsey & Company is a global management consulting firm founded in 1926 by University of Chicago professor James O. McKinsey, that offers professional services to corporations, governments, and other organizations
See below for the Latest McKinsey & Company News, Analysis, Profit Results, Share Price Information, and Commentary
Banks post record $1.2t profit in 2024: McKinsey
Banks post record $1.2t profit in 2024: McKinsey
If banks fail to adapt AI, global profit pools could fall by about $170b.
Credit unions could see up to $10b uplift by closing tech gaps
They will have to overcome weaker digital sales and outdated platforms.
FInancial services hiring slows as consumer demand weakens
This marks the second consecutive quarter of declining confidence.
Beyond the code: How mobile banking is weaving a new financial narrative in Asia
For too long, banks have treated their mobile apps as mere extensions of their physical branches.
Banks should refine AI safeguards on rising complexity and exposure: McKinsey
Having just one committee to oversee all gen AI applications is not a good fit.
Embracing Change and Capturing Opportunities with Insights from Leading Chinese Banks
Banking Reimagined: Embracing Change and Capturing Opportunities with Insights from Leading Chinese Banks.
Banks may be ill-equipped for demands of real-time payments
Stronger fraud prevention and anti-money laundering measures are needed.
Multiagent systems as key to AI-first banking: analysts
If implemented well, banks can see up to 60% productivity gains from credit analysts.
Southeast Asia’s digital banks – the road from good to great
Experts from McKinsey share five principles digital banks need to practice.
APAC’s affluent move $700b to digital wealth management
These firms are adopting hybrid models that combine digital tools with limited human assistance.
Banks gain 50% more tech capacity with productivity focus
Generative AI tools to streamline tasks can yield productivity gains of up to 30%.
China’s mobile wallet growth driven by infrastructure, innovation
Digital giants fuel China’s high mobile wallet adoption rate.
Payments’ revenue to grow by $700b in the next five years
APAC accounted for $1.1t of payments revenue as of 2023.
Banks face value creation challenge despite record revenues
Declining interest rates and mixed record on productivity growth keep markets skeptical.
SMEs propel growth in Asia’s corporate banking
Asia’s CIB is projected to grow by 7% annually through 2027.
Singapore, Hong Kong banks tap APAC family office boom
They can help manage costs, which could balloon to 3% of assets.
Centralised AI models propel financial institutions' success
Financial sectors see major benefits from centralised AI strategies, though future shifts are anticipated.
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Event News
Experts explored how hybrid multi-cloud strategies and interconnected data centres are shaping the future of banking in the region.
Commentary
Rethinking cybersecurity: How APAC banks can safeguard against AI-powered threats
Why Singapore’s fast payments need faster protections