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The state of retail banking: Profitability and growth in the era of digital and AI

McKensey

As the global macroeconomic environment remains uncertain, retail banks should focus on the fundamentals of customer primacy and margin protection while embracing digital technologies and gen AI.

Retail 137
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How banks can supercharge technology speed and productivity

McKensey

Financial institutions can unlock the productivity of their software engineering teams to significantly boost tech innovation without increasing IT budgets.

Banking 105
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The hidden truth behind job market numbers and how they influenced the vote

Work Life

When the bare minimum, like food and gas, are breaking the bank, buyers tend to cut costs where they can, but it’s not a sustainable fix. Many indicators, such as small business retail sales appearing up 2.1% AI is already reshaping roles across sectors, automating routine tasks in banking , logistics, and even some healthcare roles.

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Employers still aren’t hiring people without college degrees

Work Life

Meanwhile, companies like Amazon, Bank of America, and Lockheed Martin had some of the lowest rates of hiring workers without degrees; while others—among them Nike, Uber, and Delta Airlines—were dubbed “backsliders” for having made initial progress they didn’t sustain.

Banking 108
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Wellbeing and sustainability are defining characteristics of London’s BCO Awards winning offices

Workplace Insight

A BREEAM Excellent development with over 10,000 sq ft of new retail space, the development was unanimously acclaimed by the judging panel for its creative integration of mixed-use spaces. Last but not least, the ESG award was given to Five Bank Street. The Lantern received the award for Best Commercial Workplace.

Retail 98
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7 Ways to Save Money on Groceries without Clipping Coupons

Success

This is on top of an 11% rise in retail food prices from 2021 to 2022, according to the Government Accountability Office (GAO), the most significant increase in 40 years. According to the Federal Reserve Bank of Kansas City, a tight labor market means wage increases, which have increased the costs of production, labor and distribution.

Retail 79
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Why you need a digital estate plan and how to create one

Work Life

Online banking accounts: Would anyone know you have an online-only savings account if your statements are emailed to you? Retail sites: This includes things like Amazon and eBay. Loyalty program benefits: These may include credit card miles and points, and they may or may not be transferable, depending on the loyalty program.