Summary of Accelerating Bionic Transformation

Looking for the report?
We have the summary! Get the key insights in just 5 minutes.

Accelerating Bionic Transformation summary
Start getting smarter:
or see our plans

Rating

7 Overall

7 Importance

8 Innovation

7 Style


Recommendation

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.

In this summary, you will learn

  • What growth retail banks can expect in the emerging and developed markets,
  • What “bionic transformation” entails, and
  • How banks can achieve these changes.
 

About the Authors

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

 

Summary

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.


More on this topic

By the same authors

The “New New Normal” in Retail Banking
The “New New Normal” in Retail Banking
7

Customers who read this summary also read

Global Payments 2017
Global Payments 2017
8
Whose Customer Are You?
Whose Customer Are You?
7
A Digital Future
A Digital Future
7
Symbiosis
Symbiosis
8
The Next-Generation Corporate Bank
The Next-Generation Corporate Bank
7
China’s Mobile Economy
China’s Mobile Economy
7

Related Channels

Comment on this summary