Thursday, December 12, 2024

EBA & McKinsey: Issue joint white paper on future of banks in payments

  • The Euro Banking Association (EBA) and McKinsey & Company published a joint white paper on the future of banks in payments today at EBAday 2020
  • The new paper, based on research conducted by the EBA and McKinsey among industry leaders and representatives from banks
  • The study shows that payments and account services continue to be at the core of banks’ value proposition
  • The new normal shaped by the current pandemic accelerated some of the trends
  • The pandemic not altered the general strategic direction banks taken to grow their payments business but certainly reinforced banks
  • All banks interviewed believed that industry cooperation extremely important to fill capability gaps, drive economies of scale

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