Tech-driven banking: An investor’s perspective
Global technology spending in banking has risen by 9% annually, reaching $650B in 2023, while revenue growth lags at 4%. However, quantifying the net benefits remains challenging.
The sector faces issues such as declining productivity, unclear competitive differentiation, and rising complexity costs.
This article by McKinsey discusses how banks can maximize their technology investments and demonstrate value to stakeholders through strategic allocation and outcome-based execution.
