The rise of the digital bank

Banking, Financial Services, Money , Gerd's Reads , Updates

Across Europe, retail banks have digitized only 20 to 40 percent of their processes; 90 percent of European banks invest less than 0.5 percent of their total spending on digital…Going digital doesn’t have to mean millions in new investment dollars or convulsive upheaval in IT. Sizable investment will no doubt be necessary in some areas, but in general, many of the elements banks need to exploit this opportunity may already be in place. Banks just need to leverage them better and invest in these targeted ways.

If banks keep resisting change they will indeed be left behind and something else will take its place.

Read more from McKinsey & Company via Pocket

Gerd Leonhard


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