How Asia is reinventing Banking for the Digital Age
Asia is leading in the development of digital banking, with many companies moving from technology platforms to digital banks. This reflects the growing role of Asian economies in global trade and economic growth, and Asia’s leadership in scaling innovative technologies and business models. In this paper, from McKinsey’s
Future of Asia research programme, Jacob Dahl, Joydeep Sengupta, and Ervin Ng summarise the status of Asia’s banking industry and outline a plan of action by which banks may reinvent themselves in the digital age. They warn that as the pace of global economic growth slows, Asia’s banks face challenges and must reinvent themselves to survive.
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