Retail banking in the era of digital and AI

2024

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AI-generated summary

1) This McKinsey report provides strategic guidance for retail banks navigating margin compression, rising costs, and digital disruption by leveraging advanced analytics and generative AI to protect profitability and foster customer primacy.
2) What's inside:
- Global banking profitability trends, revenue milestones, and macroeconomic headwinds including inflation and slowing deposit growth.
- Winning distribution strategies centered on mobile-first channel orchestration, personalized rewards, and tiered customer engagement.
- Actionable approaches for margin protection through advanced deposit/lending pricing, holistic fraud management, and gen AI productivity use cases.
3) Tags: retail banking, artificial intelligence, profitability, digital transformation, risk management

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