Joining the next generation of digital banks in Asia | McKinsey
Digital banking in Asia is primed for growth. Amid soaring demand for online and mobile alternatives, new digital players are shaking up the market and transforming banking for individuals and companies. As regulators increase license allocations and set standards for a new generation of banking, there is a unique opportunity for both incumbents and new entrants to get involved. This article was a collaborative effort by Raphael Bick, Denis Bugrov, Hernán Gerson, Alexander McFaull, and Alexander Pariyskiy. Not every Asian digital bank is a success story, of course, but those that have developed a productive business model and scaled effectively have thrived. Once established, digital banks can generate higher revenues at a lower cost to serve than incumbents, putting them in a position to expand market share. In addition, their digital architecture enables them to access ecosystems of businesses and customers, bringing exponential benefits in terms of knowledge and data. While digital
Digital banking in Asia is primed for growth. Amid soaring demand for online and mobile alternatives, new digital players are shaking up the market and transforming banking for individuals and companies. As regulators increase license allocations and set standards for a new generation of banking, there is a unique opportunity for both incumbents and new entrants to get involved. This article was a collaborative effort by Raphael Bick, Denis Bugrov, Hernán Gerson, Alexander McFaull, and Alexander Pariyskiy. Not every Asian digital bank is a success story, of course, but those that have develope
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