The Automation Advantage in Retail Banking

Editor's note: This is a guest article from our partner Bain & Company, a top global management consultancy based in Boston. The company advises business leaders on strategy, marketing, organization, operations, IT, and M&A across industries, including financial services. As more fintechs enter the market and consumer preferences shift, traditional retail banks face significant challenges in attracting and holding customers while remaining profitable. They must become more efficient, responsive, and innovative to keep up with fintechs and stay competitive with a generation of customers expecting always-on, always-available consumer-like banking experiences. Recently, my company, Bain & Company, surveyed retail banks.