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Editorial Rating

8

Qualities

  • Analytical
  • Overview
  • For Experts

Recommendation

Digital innovation and fintech continue creating waves in retail banking, but now transformative change is hitting corporate banking as well. In a global survey conducted by experts at the Boston Consulting Group, a majority of the financial executives polled anticipate the emergence of a whole new competitive marketplace and the need to overhaul business fundamentals. Yet managers actively developing a strategy for their firms’ digital future are in the minority. In this insightful and accessible overview for technology and corporate banking leaders, the authors provide a logical framework for planning that critical transition.

Take-Aways

  • A worldwide survey of corporate bankers reveals that 86% believe substantial changes in their business are imperative, as digital technologies disrupt their sector. But only 43% have formalized plans for a digital transition.
  • Innovations in corporate banking arising through fintech platforms include blockchain, artificial intelligence, big data and robotics. 
  • Asian institutions are further along in this space, due to digitally savvy but financially underserved customers. 

About the Authors

Carsten Baumgärtner et al. are professionals with the Boston Consulting Group.