BCG: Banks Need Bionic Transformation To Conquer Future

Following the 2008 global financial crisis, banks have made positive strides in stabilizing their financials, but another macro economic headwind in technology lies ahead. Currently, the top banks are dramatically leading their rivals as retail banking faces emerging disruptive threats to traditional business models, a Boston Consulting report noted. As a cashless society approaches, bank customers don’t want digital services mandated by the bank, but rather want to play a role in determining the preferred mix of digital and human interaction to accomplish their banking goals. While progress has been made, the challenges facing banks will nonetheless require a bionic…