The transformative power of automation in banking

A second wave of automation in banking will increase capacity and free employees to focus on higher-value projects. To capture the opportunity, banks must take a strategic, rather than tactical, approach. Automation is the focus of intense interest in the global banking industry. Many banks are rushing to deploy the latest automation technologies in the hope of delivering the next wave of productivity, cost savings, and improvement in customer experiences. While the results have been mixed thus far, McKinsey expects that early growing pains will ultimately give way to a transformation of banking, with outsized gains for the institutions that master the new capabilities.