Companies like Amazon, Apple, Google, Netflix and Spotify have taken existing services and transformed them into digital experiences that are now embedded in customers’ daily lives, McKinsey said. — AP
The world’s biggest banks can tighten their grip on the industry in coming years only if they learn from tech-savvy upstarts that have already claimed a slice of the pie, consulting firm McKinsey & Co said in a report.
Established firms must develop their own technological offerings to cater to younger customers, or gain an edge by acquiring companies as JPMorgan Chase & Co has done, McKinsey said Wednesday in its annual report on the state of the industry.
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