Innovation in Retail Banking - or the Lack Thereof
In an article titled 'Innovation: The Growth Accelerator' in the latest issue of BAI Banking Strategies, McKinsey's Zubin Taraporevala and Marla M. Capozzi explore innovation in retail banking - saying that the banking industry is "ripe for innovation" and noting that "the vast majority of industry breakthroughs have come from attackers, not incumbents." They share results from a survey of 300 financial services executives that identified three major challenges inhibiting innovation - in particular, "limited use of customer insights and external idea networks" - along with six characteristics and capabilities of high-performing innovators.
Add your comment... (note that all comments are reviewed before they're published)