“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.”
“Today’s retail banking market is vastly different in shape and structure from the old environment, in which the traditional model of universal banking was economically sound. In the new world, the winning banks will be those that carefully choose the businesses in which they can lead and commit to building a value proposition, core technology, and operating model fit to win on the digital battlefield.”
Got interested? Then read the original and complete post on McKinsey.com here.