Summary of Accelerating Bionic Transformation

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Retail banks have reason for optimism: Their growth rates are now on a par with those before the 2008 crisis. But future profits will hinge on banks’ ability to leverage new technology and maximize trusted customer relationships. In this carefully distilled market analysis, Boston Consulting Group professionals expound on “bionic transformation,” a process that involves integrating human and digital elements to enhance service, personalize value and increase customer fulfillment. getAbstract recommends this perceptive report to financial services executives.

About the Authors

Muriel Dupas et al. are professionals with the Boston Consulting Group.



Retail banking is responsible for nearly half of all banking revenues. Analysts expect the sector to grow at a 4.6% compound annual rate from 2016 to 2020, almost two percentage points above precrisis levels. But that growth will likely unfold unevenly, as emerging market banks rack up double-digit gains while institutions in developed markets limp along “in the low single digits.” Projections call for retail bank revenue in North America and Europe to grow by around 2.5% in 2020, well below the 9% to 10% rates expected in the Middle East, Latin America and Africa.

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