Mckinsey global payments 2018 pdf

  • 1,2 Cashless global payments increased 9 percent in 2014, propelled largely by growth in Asia (principally by China) and Latin America (largely due to Brazil), according to a McKinsey report on global payment trends. HomeSend is designed to work with Banks, Mobile Money Operators, Money Transfer Organisations, Digital Players, Governments and more, helping them modernise the way they make and receive cross-border payments so they can provide a better service to their end-users. mckinsey. 2 / A payments times, and connecting workers with buyers of their services. IPPR Commission on Economic Justice On Borrowed Time Finance and the UK’s current account deficit Grace Blakeley Discussion PaperBlockchain in Insurance — Opportunity or Threat - Free download as PDF File (. 7MB). Firstly, the ongoing digital and technology revolution, led by the TRENDBIRD (What's the Next Big Thing ?) is a Global Trend Research Service that Instantly Delivers Industry Expert Information on Emerging Trends & Future Business Opportunities from Around the World, Ahead of The Curve. The transformative potential of big data in five domains 37 3a. Blockchain in Insurance — Opportunity or Threat - Free download as PDF File (. It conducts qualitative and quantitative analysis to evaluate management decisions across public and private sectors. McKinsey & Company is an American worldwide management consulting firm. Featured. The report concludes that by 2020, the global payments industry will likely generate $400 billion more in annual revenue than in 2016. The buzz over artificial intelligence (AI) has grown loud enough to penetrate the C-suites of organizations around the world, and for good reason. It’s fueling new business models and transforming how companies organize, operate, manage talent, and create value. Capco, first known as The Capital Markets Company N. Held in conjunction with the Centre for Global Health Security, Chatham House. According to GSMA's report "How China Is Scaling the IoT", China is the world's largest Machine-To-Machine (M2M) market with 74 million M2M SWIFT gpi dramatically improves cross-border payments across the correspondent banking network, and not least for corporates for whom speed, certainty and a smooth international payments experience is an absolute must. However, without a comprehensive and reliable market view, teams struggle to consider the quantified industry trends in their decisions. Through a study of AI that included a survey of 3,073 executives and 160 case studies across 14 sectors and 10 countries, and through a separate digital research program, we Blockchain in Insurance — Opportunity or Threat - Free download as PDF File (. Companies that create a comprehensive plan to manage through this change have opportunities to reduce costs and drive customer satisfaction. Systemically Important Systems. AI and the Global Economy McKinsey (2016) Technology adoption accelerating Notes: Technology adoption lag is a mean estimated lag in cross-country technology McKinsey uses cookies to improve site functionality, provide you with a better browsing experience, and to enable our partners to advertise to you. 870 million women …will participate in the . The rapid deployment of the IoT in this sector is broadly consistent with McKinsey Global’s projection of a large economic impact on this sector. A new McKinsey Global Institute (MGI) report, A blueprint for addressing the global affordable housing challenge, defines the affordability gap as the difference between the cost of an acceptable standard housing unit (which varies by location) and what households can afford to pay using no more than 30 percent of income. Emerging economies are expected to grow at three times the rate of mature economies with Emerging Asia (led by China and India) projected to grow at 30. 5 3 - What impact does payments will result in fall in service income from Source: McKinsey, S&P Global Market Intelligence and TSYS Analysis (1) $7 billion in estimated annual spending as of 2017 (market revenue pool) by credit card issuers in the U. Accenture’s fourth annual compliance risk report, Dare to Be Different, April 2017 payments alternatives increases, the de-coupling of international payments from previously dominant global providers is creating plentiful opportunities for smaller institutions to fill the gap. 1, 2018 Joe Nation, Ph. , is a global business and technology consultancy with 28 offices across four continents: Europe, North America, South America and Asia. Mr. First is expanding internet access, which continues TRENDBIRD (What's the Next Big Thing ?) is a Global Trend Research Service that Instantly Delivers Industry Expert Information on Emerging Trends & Future Business Opportunities from Around the World, Ahead of The Curve. • “What to Do with Missing Payments to Factors of Production” (with Loukas Karabarbounis), VoxEU. Deloitte provides industry-leading audit, consulting, tax, and advisory services to many of the world’s most admired brands, including 80 percent of the Fortune 500. Jonathan Woetzel, Jeongmin Seong, Kevin Wei Wang, James Manyika, Michael Chui, Wendy Wong. New research by the McKinsey analyses twelve technologies, ranging from the mobile Internet to cloud computing to advanced genomics that could have a profound impact on growth and social progress and add $550 billion to a trillion dollars a year of economic value in India by 2025. 3 trillion by 2018, an increase of about 30% over the 2013 level. McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Companies do need assets like computers, servers, networks, and Featured. The world of payments remains in constant flux, reflecting an ongoing rebalancing of power among incumbent banks, digital giants, financial technology (fintech) startups, card networks, and, of course, consumers and merchants. According to the AfrAsia Bank Global Wealth Migration Review, India is the sixth wealthiest country in the world with a total wealth of USD 8,230 In this report, McKinsey takes a comprehensive approach to quantifying the economic and social imact of digital finance in emerging economies. The strength of this event continues to be the exchange of information within the ecommerce and payments industry, with a focus on Asia. “Mobile payments in China McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. By 2020, the global e-commerce market 5is expected to rise to $4 trillion USD. 100RMB in cash. 1 Payments and financial services-related APIs GLOBAL PAYMENTS 2020: TRANSFORMATION AND CONVERGENCE // 2. The majority of the region’s connections will be 4G by the end of December, or 38 percent, up 30 percentage points from 2015, the study said. 1 billion After reaching 3. Philip Bruno. D. 7 trillion, by 2025. He is a management consultant with more than 15 years' experience advising C-level executives in the global retail and commercial banking industries. McKinsey & Company is an American worldwide management consulting firm. Fergus Gordon is managing director for Accenture Banking in Africa and Asia Pacific. Community Conference L3 Conference Room 6. org column, June 2018 quarter by numbers: q3 2018 Confidence on a global scale ended the third quarter two points higher than in the previous period and fast-moving consumer goods (FMCG) sales in many countries are trending upward as a result. txt) or read online for free. . . 1 percent in both 2017 and 2018, global growth is expected to decelerate over the next two years as global slack dissipates, major central banks remove policy accommodation, and the recovery in commodity exporters matures. Source: McKinsey Global Payments Map. V. Paper-Based Origination and sales are ~65% of global banking profits. • If carefully managed, 2018 could be pro-cyclical China benefiting from global growth, plus contributing to global growth • However, risks still remain from geopolitical accidents and policy mistakes 10 Capitalism without Capital Haskel, Jonathan, and Stian Westlake. 12:30 to 13:30. More collaboration is required among members of the correspondent banking community, despite the progress that has been made through efforts such as the Global Payments Innovation (GPI) initiative. Blueflame Consulting and the GCI Analytics office of McKinsey & Company assisted with survey administration and data Download the full issue of McKinsey Quarterly 2018 Number 3 (PDF–4MB). Hunter, Managing Director, JPMorgan Chase & Co. At the top of the collective agenda in 2016 is the digitization of Download the full issue of McKinsey Quarterly 2018 Number 2 (PDF–3. CEB TowerGroup Adoption and Investment in Financial Services Technologies: Payments Engines and Hubs, May 2016 2. Take a look here at links to 30+ McKinsey presentations. This is a key decision that fintechs need to make going forward. A McKinsey report on the industry highlighted outdated PDF files and Excel spreadsheets are also common for professionals to record daily progress on a construction site. global economy, creating sustainable jobs and economic growth. 6% through to 2020. The tweets in the network were tweeted over the 10-day, 3-hour, 51-minute period from Wednesday, 19 December 2018 at 20:35 UTC to Sunday, 30 December 2018 at 00:27 UTC. GMT global operations strategy fundamentals pdf - McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. credit card companies. McKinsey has 28470 employees across 133 locations and revenue was $10 b in FY, 2017. S. Contents EXECUTIVE SUMMARY 3 The EtherPay Vision 3 Technological Landscape Overview 3 Payments Industry 4 About EtherPay 6 The EtherPay Solution: A Decentralised Payment Gateway and Marketplace 7 McKinsey believe there has been a recent mood change (e. 7 trillion7. Participation in the Faster Payments Task Force was comprised of more than 300 diverse payments experts. Frontiers in Finance explores the opportunities for banks to turn European PSD2 open payments regulation into global payment method innovation. Partner. Global payments 2018: A dynamic industry continues to break new ground. The article uses real examples of what some companies are doing to enable their workforce to enhance autonomy, job control, McKinsey & Company is a global management consulting firm, deeply committed to helping institutions in the private, public, and social sectors achieve lasting success. pdf; Number of Breach Incidents by Type, accessed October 2017 at. 7 trillion by 2025. • That the board of trustees travel to NEPC client and education conferences be approved and that all resulting allowable expenses consistent with SURS travel policy be reimbursed. October 2018 Robust growth makes payments a dynamic sector for incumbents and a draw for new competitors. McKinsey believes most new entrants are targeting the origination and sales components of banking, and estimate that in five major retail banking businesses – consumer finance, mortgages, lending to small and medium-sized enterprises (SME), retail payments and wealth management – from 10% to 40% of bank revenues will be at risk by 2025. Risk Dynamics, part of McKinsey & Company, is a global consulting firm that has been providing model risk management advisory and independent model validation and audit services to banks, insurers, asset managers and financial infrastructure operators throughout the world for over 14 years. EU open banking standards could enable banks to launch innovative global payment methods. Health care (United States) 39 3b. 1 billion valuation Viva Republica, the firm behind South Korea's wildly successful payments app Toss, has raised an $80 million round, valuing the firm at $1. Detailed information on the use of cookies on this Site, and how you can decline them, is provided in our cookie policy . au was officially launched on 5 February 2018 by the Honourable Dave Kelly, Minister for Innovation and ICT. McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. 2 Figure 1: Electronic payments are poised to overtake non-electronic payments in 2009 Global Business Services (GBS) is commonly and consistently held up as the “Holy Grail”, to which all Shared Services organizations should strive. This Qatar Economic Outlook 2016-2018 could not have been produced without the generous cooperation of other agencies. Payments Financial Services McKinsey Company. Address global market with data for 13 key countries . Over the nine years I have been in this role, The McKinsey Global Institute notes that increases sophistication” and “Intensity of competition” are from World Economic Forum Global Competitiveness Report (2017-2018) and scored from Monetizing all that car data is a hot topic in this area, with more companies exploring the prospects for in-car payments. 2018) 7,96,669 KWh of power (saved Rs 67,71,687 worth of electricity) while the average output daily is about 2,048 KWh. While the rollout of 5G will be a multiyear journey, the foundations will begin in 2018. For 90 years, our primary objective has been to serve as our clients' most trusted external advisor. Nicolas van Zeebroeck is a professor of innovation and digital business at the Solvay Brussels School of Economics and Management at Université libre de Bruxelles in Brussels. McKinsey&Company, Global Payments Map, June 2016 Geography Mostly domestic 48 Potential Payments Upon Termination or Change in Control FISCAL 2018 “Brown-Forman is the global McKinsey & Company The 2018 retail, wholesale, and distribution industry outlook explores recent trends and how they impact on today's consumers and business owners. Payments Canada retained global consulting firm McKinsey & Company to support the vision work. This is the equivalent of adding to the world an economy of the size of Germany, or one that’s larger than all the economies of Africa. 2016, accessed 16 January 2018, https://www. Global initiatives such as Global Payments Innovation (GPI) are expected to . As per Indian Railways, the project cost is estimated to be Rs 6. The Next Leap: Making the Real-Time Payments Revolution Global Location: Wedgewood Room—Lower Level • George Doolittle, Executive Vice President and Head of Global Payment Services International Group, Wells Fargo & Company • John C. Capco, first known as The Capital Markets Company N. 8% growth in GDP over the next 50 years will be driven by automation (McKinsey Global Institute 2017) . mckinsey global payments 2018 pdf Mckinsey. 14. Supply chain (4iQ, 2018). 5%. So, while cash typically accounts for the majority of retail payments in shops, when these other consumer payments (e. The report also includes a …McKinsey Global Institute. org column, June 2018 • “The Rise of the Dollar and Fall of the Euro in Global Asset Trade” (with Matteo Maggiori and Jesse Schreger), VoxEU. as well as a director of the McKinsey Global Institute. com/global-. A recent report by management consultancy firm McKinsey & Company found that of 200 blockchain companies, 20 now offer insurance services of one form or another. g Adyen listing in June 2018 and its share price doubled) with recent fintech listings on various exchanges. The report covers the market landscape and its growth prospects over the coming years. Types of Global Payments Global Payments is a broad term which encompasses many different use cases. Global . Ubex is a global decentralized advertising exchange where companies advertise effectively, while publishers profitably tokenize ad slots on their resources. ” The an Ipsos global survey found that only 24% of consumers felt that brands deliver regular innovations and new products. As a result, banks need to be able to efficiently respond to the pace of change to remain competitive. INNOVATION IN PAYMENTS // 1 Foreword By Dominic Broom, Head of Treasury Services EMEA, BNY Mellon The wind of change in the payments world is gaining in strength as inancial technology’s (“intech”) potential to alter how, where and when payments are made – as well as who it is that facilitates them – is further explored and leveraged. On another topic, when will AI replace The Insights Review? That is the question posed by many of The Insights Reviewed by our global expert team in this issue. Eskom delivers on its commitment to recover McKinsey payments Page Content Friday, 6 July 2018: Since the appointment of the current Board of Eskom early this year, focus has been and continues to be, amongst other interrelated issues, addressing governance related matters with urgency. Scope and Methodology: Phase 1 – Market and Competitor Data Treasury and Trade Solutions (TTS) TTS underpins Citi’s global business model and client relationships Wholesale Cards Receivables Liquidity Management Services Trade Channel Services Payments TTS as of Q4, 2013 >3,000,000,000,00 0 421,760,000,00 0 140 98 $ value of payments processed daily $ average deposits and other customer liabilities How the payments industry is being disrupted McKinsey. We identified trends that significantly impact the payments industry overall, and . Somesh Khanna is a senior partner in the McKinsey New York office and North American leader of the McKinsey Digital Practice. Firms can also access global talent pool by using online marketplaces such as Upwork and Freelancer. 7 crore. CASH. London, England. According to research published by Payments UK, the UK now has over 2,500 payment service providers, contributing to an increasingly rich and diverse landscape. Risk Dynamics, part of McKinsey & Company, is a global consulting firm that has been providing model risk management advisory and independent model validation and audit services to banks, insurers, asset managers and financial infrastructure operators throughout the world for over 14 years. 6 Tweet by McKinsey & Company, October 20, 2018, 7 McKinsey & Company, McKinsey Global Institute, and the amount of payments received under these The World Payments Report 2018 from Capgemini and BNP Paribas is the leading source for data, trends and insights on global and regional non-cash payments, the key regulatory and industry initiatives (KRIIs), and today’s dynamic payments environment. The fight for the customer. Technavio's report, Global Logistics Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The telecommunications sector continues to be a critical force for growth, innovation, and disruption across multiple industries. LATAM’s economy is expected to accelerate in 2018, with GDP forecasted to expand this year at the fastest pace since 2013. 1% per annum over the next 50 years due to slower population growth, longer life expectancy and falling productivity. 30a Outside Dead Sea 1+2 Coffee & Networking 11. It seems that a new generation of agile research approaches is needed to help marketers innovate even better. For more information, visit the practice website . Our flagship business publication has been defining and informing the senior-management agenda since 1964. Includes consumer and business payments as well as cash flows from bank branches and ATMs. Perini Corporation and Brown Brothers, Harriman and Company, Plaintiffs v. Mary Ann Francis is the Global Head of Strategy and Product for Payments, Treasury and Blockchain at DXC Technology. Connecting talent with global needs could add $2. McKinsey (2018) notes that “global corporate default rates are already above their long-term average, and the prospect of rising interest rates may put more corporate bond borrowers at higher risk” and calculates that in response to a 2 percentage point rise in interest rates, the share of corporate bonds at higher risk of default in China How the payments industry is being disrupted McKinsey. Big data techniques and technologies 27 3. One of the most anticipated mobile technology platforms, 5G will be the THE REAR VISION MIRROR (GLOBAL) To quote the consultancy firm McKinsey (May 2018), “analysis of 50 major publicly listed utilities from Asia, Europe, and North America showed average total cumulative returns to shareholders of about 1% from July 2007 to July 2017, compared with 55% for the MSCI World Index. 9 billion, the consumer sector share will drop from 35% to 24%. Global Payments WPR 2017 projects that global payments growth will increase on average by 10. McKinsey’s Global Payments Practice McKinsey’s Global Payments Practice is a network of more than 100 partners worldwide serving a broad range of institutions (banks. pdf), Text File (. Source: McKinsey Global Institute, PicthBook, Dealogic, eMarketer, iResearch. The First National Bank of Habersham County, Georgia, the Fulton National Bank of Atlanta, Georgia and Morgan Guaranty Trust Company of New York, New York, Perini Corporation and Brown Brothers, Harriman and Company, Plaintiffs v. The maximum number of tweets collected was 5,000. Global Payment Summit-Asia 2018 takes a new direction on-boarding creative initiatives starting with a special collaboration forged with PayNet Group, Malaysia’s premier payment system network and central infrastructure for financial markets. can talk to our Global Practice Leader, Lisa Hickson, or ICG Global Thought Leader, Stephen Hewett, who covers exactly this topic in his review this month. Furthermore, contingent or independent workers need to be looked at as more than a passing trend as the global workforce continues to change and grow. Does McKinsey intend to continue providing any consulting services to, or for the benefit of, the Saudi government or any entity associated with the Saudi government? McKinsey Global Institute The new dynamics of financial globalization Do continuing global financial imbalances pose a threat to global financial stability? 79 Some argue that they pose macroeconomic risks, particularly for countries that build up large foreign investment liabilities. global payments 2016: strong fundamentals despite uncertain times introduction introduction by 2020, the global payments industry will generate an es- Financial Times And Mckinsey The Bracken Bower Prize (“prizeâ€)GLOBAL PAYMENTS 2018 WHITE PAPER. 1 trillion. 1 Payments and financial services-related APIs While strong growth has returned to the global payments industry, learn how we forecast payments revenue will grow by 8 percent each year through 2018, GLOBAL PAYMENTS 2020: TRANSFORMATION AND CONVERGENCE // 2. According to McKinsey (2016) cross-border payments òrepresent 20 percent of Prashant Gandhi is the global chief operating officer of McKinsey Digital. Joining the company early in 2018, she is spearheading the continuing growth of industry-leading payments systems (CAMS, PTS, et al) along with the development of new payments and banking communities around the world. 7 trillion to global GDP by 2025 by allowing for better skills-matching globally. 3: McKinsey Global Mobile Payments Consumer Survey Referenced in Dec 7, 2017 Mckinsey estimates that (as of 2017) the payments industry now makes up 34% of the global banking industry. com While we expect the payments industry to keep growing at a healthy rate powerful disruptive forces will begin to reshape the global landscape. com McKinsey Global Institute Global payments Expansive growth targeted opportunities. 1 A confluence of factors is helping to drive cashless payment services growth. Locations . Path to Faster Payments, inclusive of the following work products: Please include copies of all contracts, and the amount of payments received under these contracts, for each year from 2013 to 2018. 1. In the McKinsey 2016 Global Payments Report, the management consultant giant discusses the major trends for transaction banking and the role of digital innovation in payments to fuel future growth. As per a research report by McKinsey Global Institute, widespread adoption and use of digital finance could increase the GDP of all emerging economies by 6 percent, or a total of $3. India’s economic growth forecast for the year 2018-19 by Fitch Ratings is 7. Global payments revenues grew 11 percent in 2017, the highest rate in the last 5 years. 10 In 2014, the OECD measured the digital economy, defined more widely as the ICT sector, as accounting “for 6% of total value added, 4% of employment and 12% of total fixed The financial-services landscape is being gradually reshaped by application programming interfaces (APIs) – technology that allows instant communication and information-sharing between applications provided by banks, payment services providers, and other financial-technology (FinTech) companies. Stanford Institute for Economic Policy Research (SIEPR) Stanford University joenation@stanford. The first chapter offers an outlook for the global payments industry . Payments is an area where this dynamism is already well-established. Readers of this blog will know that i follow McKinsey quite a bit and back in October they wrote an article – 16 in 2016: Trailblazing trends in global payments – which i will provide an overview of in this post. We can learn from each other. 1 Loans to retail and corporate clients (overdrafts, specialized finance, credit card, trade loans) 2 Corporate finance, capital markets, securities services 3 Retail and wholesale payments transactions, including cross-border payments and remittances Monday, 9 July 2018: Eskom welcomes the apology made by McKinsey & Company Global Managing Partner, Kevin Sneader to the people of South Africa at the University of Pretoria’s Gordon Institute of Business Science (GIBS) forum earlier today. The anticipated financial recoveries of Argentina and Brazil are the primary drivers of the region’s forecasted growth. 1 2 3 The need for transformation is greater than ever due to a low The global provider From adopting real-time payments to financial crime compliance, find out how we respond to your challenges. Fri, 14 Dec 2018 13:50:00 GMT Explore our featured insights | McKinsey & Company - Contents Introduction 1 Payment Systems 2 Payment Channels 5 1. 9 trillion USD. 4% and for 2019-20 it is 7. Warren provided strate-1 SPRING 2018 From the Chairman of the Board DCRBReport Joseph W. Prodded by accelerating technology advances, some companies have begun to rethink their growth strategies, finding new ways to benefit from mergers and acquisitions, digital products and services, and even political forces affecting global trade. Global Payments. Moreover, 94% of global executives are dissatisfied with their organization’s innovation performance1. Sun, 18 Nov 2018 14:07:00 GMT Explore our featured insights | McKinsey & Company - 🔥Citing and more! Add citations McKinsey calculated that profits from all banks reached a record of $1tn last year, helped by rapid growth in Asia and particularly in China and as US lenders rebounded from the financial crisis. China is already a global leader in e-commerce and Payment Services Directive 2 Directive on Payment Services in the Internal Market “(EU) 2015/2366” Deutsche Bank Global Transaction Banking This white paper offers Deutsche Bank’s overview of Payment Services Directive 2 in collaboration with PPI. The Payment System Studies section conducts original research and collects data related to payments, clearing, and settlement to inform policymakers, the payments industry, and the public. In the last five years the internet has accounted for The Faster Payments Ecosystem: Maintaining Collaboration and Momentum (PDF) Sean J. [1] The coming year will find that Mar 2, 2018 The global payment industry's business model is becoming data-driven, but will . 2% for 2019. Executive Summary. 30a Ð 1. An Upward Trajectory About McKinsey & Company McKinsey & Company is a global management consulting firm. Market . Payment Services Directive 2 (PSD2) 2 2018. 4 Reinventing Equity Research as a Profit-Making Business view of banks surveyed by McKinsey calls for an industry-wide drop in equity research revenues of 30 percent or more over the next three years. 1 billion to 4. g. A 2015 study by the McKinsey Global Institute, Can Global Growth be Saved, suggests that while global GDP increased at a compound annual rate of 3. So there is value in sharing information about best practice across countries. Mapping global data: Growth and value creation 15 2. p14. As of that year, 51 percent of worldwide mobile payment volume is expected to Then charges for card payments will be lowered 1 McKinsey & Company. gov. Mckinsey Global Institute has just released it’s new report on Urban India titled. Back office . GLOBAL PAYMENTS 2020: TRANSFORMATION AND CONVERGENCE // 6. 4% of overall GDP in the 13 nations studied. 2018 list of upcoming training opportunities be approved and that all resulting allowable expenses consistent with the SURS travel policy be reimbursed. BCG helps corporations and other organizations innovate and achieve sustainable competitive advantage. Cybercriminals continue to target financial institutions and payments providers, and the exploitation of data breaches and stolen identities has become automated, global, and coordinated. McKinsey estimates that 162 million people in the USA and the EU work in the gig-economy, this is about 20% to 30% of the workforce. The future of payments Looking forward, new entrants – including FinTechs – are continuing to bring new products and services to UK payments. McKinsey Global banking annual review. January 2018 Volume 10: Issue 1, January–June 2018 88 there is an estimated demand of 1. Within just two years, the Global Payment Summit has built a remarkable reach, with 200 delegates joining from 27 nations. YTD revenue plus orders in hand for delivery in 2018 ~$250m at end July 2018 Note that more purchase orders are expected to be received in 2H 2018 vs. cashless-means-of-payment-2014-data. Installed base of devices, Q4 2017 . The Boston Consulting Group • Google | 3 The global payments landscape is evolving at a dizzying pace. 00p Dead Sea 1+2 Discussion: Digitalization and Personalization Ð The Right Mix of Technology and Touch Capgemini reports on the major 2017 trends in the payments industry which revolve around three core areas of payment instruments, regulatory and industry initiatives, and key stakeholder strategies. Text Version. 5 million more than current supply (Global Times, 2017). 9%. The report, called Elements Of Success: Urban Transportation Systems Of 24 Global Cities, recorded a satisfaction level of 86 per cent among those surveyed. ahead, the McKinsey Global Institute predicts that up to half of the total productivity growth needed to ensure a 2. By Kathi Plymouth Vice President, Product Strategy and Innovation and Jody …About this document Purpose Operators need to move from being communication service providers (CSPs) to digital service providers (DSPs). Discover the latest updates from CES by following @AccentureHiTech. payments system to policymakers, the industry, and the public. As a member firm of Deloitte Touche Tohmatsu Limited, a network of member firms, we are proud to be part of the largest global professional services network, serving our clients The point of QE3 seems to have been to take in excess reserves as callable (ie zero duration) deposits and use the money to buy long dated Treasuries and bonds - …The redeveloped whole of government website, WA. We partner with clients from the private, public, and not-for- Its been an incredible 2015 and many commentators are now looking ahead to forecast what payments trends will be prominent in 2016. lion by 2018. McKinsey's global payments outlook. Available indicators are reported for 2017, 2014, and 2011. Digital assets across the entire economy doubled over the past 15 years, as firms invested not just in IT but in digitizing their physical assets. 23. The Global digitalMcKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. For the U. Supporting docs. 8 Dec 15 Weekly global payments news roundup Mercato helps independent grocers compete with online sales & delivery Watch out, malicious bots are coming for your business 3 Lithium Fundamentals Very Strong Dramatic EV Growth in 2018 +100% in China +50% in USA +40% in Europe EV Demand Catalysts all Improving Range, charging infrastructure and cost… Globally, our more than 4,300 payments advisors and payments systems integration specialists bring together strategy, consulting and execution to put banks, payments providers and others on the leading edge of payments. 03 Openness over obstruction moves by regulators, and the proliferation of payments services, have flattened the competitive landscape of McKinsey & Company released its first marginal abatement cost (MAC) curve for greenhouse gas emissions in February 2007, which was updated to version two in January 2009. Japan’s experience suggests that countries such as China, Korea, and Thailand that will face similar demographic trends in the future may also benefit from automation. As disruption or failure in a systemically important system has the potential to pose the greatest risks to Canadian financial stability and economic activity, safety and soundness is emphasized. 3% in 2018 and 3. dollars) Global advertising spending 2010-2018 Growth of advertising spending worldwide from 2010 to 2020 Growth of advertising billion in 2019 at a CAGR of 61%. I would therefore like to thank Qatar Founded in 1963, The Boston Consulting Group (BCG) is a global management-consulting firm. Salaries posted anonymously by McKinsey & Company employees. (2015). Source: Swiss Re Institute 1 We are in economies with structural growth drivers 12 2010A 2020F 2030F Affluent and emerging affluent Other ~350 ~750 ~1,500 Growth (%) Emerging Asia and McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. edu McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Deep Dive: Beyond Pink Cards – Payments for the Women of Tomorrow Cards targeting the Women’s Market have strong busi-ness results, provided benefits that women consider relevant are offered. Ubex is a global decentralized advertising exchange where companies advertise effectively, while publishers profitably tokenize ad slots on their resources. 8bn market, we believe it will make material contribution to revenues in next 3 years late, from McKinsey Global Institute, finds this breakdown of gig workers: • 32% “free agents” who choose independent work and derive primary income by it • 40% “casual earners,” the largest cohort, who supplement their income by choice using independent work McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. “Global Retail Banking 2018: The Power of Personalisation” – BCG VIEW PDF (28 PAGES) BCG’s annual survey of the global retail banking industry reviews the comparative performance of retail banks across and within each of the major geographic regions. The report finds that widespread adoption and use of digital finance could incread the GDP of all emerging economic by 6 perent, or $3. Consistent with their mission, the task force developed The U. Germany GmbH COFIDIS Group Coin Journal Collect Easy Comercia Global Payments Compass Plus Computop Concardis CONSULT HYPERION Cosmo Element Creditcall Credorax CTC Advanced McKinsey Global Institute. A short supply of Big Data professionals raises the question as to whether there is adequate training related to Big Data at 8 Small Business Finance Is a Global We hope that innovations in this field – and others in payments, wealth pdf. India’s urban awakening: Building inclusive cities, sustaining economic growth. e d McKinsey & Company 3 …and output of the initiative Output Country Digital Index to measure digital adoption in India versus other countries, based on 30+ metrics Fact base on how India’s digital evolution has started to change the lives of people McKinsey & Co MCS Holding MCX Systems Mellon Group MICROSOFT Mobiversa Modirum Monex Financial Services Monext Moneynetint Mosst Multi Service - MSTS MyBank myPinPad N. Past MPC Companies Global Systems Telecom Inc McKinsey & Company MCPOS Mercator Advisory Group Merchant e-Solutions Merchant Level Technologies 2018 FALL PRODUCT UPDATE INNOVATION THEME MAKE WORK MORE HUMAN 1 McKinsey Global Institute November 2017 Report, “Jobs lost, jobs gained: What the future of work will mean for jobs, skills and wages” Leads McKinsey’s work in digital banking in Asia–Pacific, working closely with local, regional, and global institutions on a broad range of strategic and transformation challenges to capture value McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Emerging-market nancial inclusion and digital payments High-income economies Developing economies China India Kenya Vietnam 0 10 20 30 40 50 60 70 80 90 100 Fraction of adults with an account Made or received digital payments in the past year Did not make or receive digital payments in the past year Data source: World Bank Global Findex Database. mckinsey global payments 2018 pdfGlobal payments: Expansive growth, targeted opportunities October 2018 – Robust growth makes payments a dynamic sector for incumbents—and a draw for Global payments: Expansive growth, targeted opportunities global revenues are poised to surpass that $2 trillion threshold in 2018, and to approach $3 trillion The global payments industry continues to deliver healthy growth, with underlying fundamentals such as transaction volumes and account balances Oct 3, 2017 execute. The requested start date was Sunday, 30 December 2018 at 01:01 UTC and the maximum number of days (going backward) was 14. Prepared in collaboration with McKinsey & Company To improve global food security and nutrition, different players and stakeholders Payments 3. He is a management consultant with more than 15 years' experience advising C-level executives in the global retail and commercial banking industries. McKinsey & Company 11 Global flows account for approximately 10 percent of global GDP output; data flows account for a large (arguably largest) chunk of that contribution 3,5 10,1 3,0 2,0 FDI 1,6 Migration2 Goods trade Data flows All flows Impact on GDP, 20171 $ trillion Long-term impact on level of GDP1 % SOURCE: McKinsey Global Institute analysis A free inside look at McKinsey & Company salary trends. Competition from non-bank digital entrants, high customer expectations, evolving regulations, and modernization of national payment infrastructures have increased the complexity of the payments landscape. com. Preface The Indonesia Economic Quarterly (IEQ) has two main aims. ” Capitalism without Capital: the Rise of the Intangible Economy, Princeton University Press, 2018. 9% of global GDP in 2010, or about US$1. Sibos 2016: collaborate to drive correspondent banking. Expand your FinTech Practice today and become a game changer! Get access to tons of papers and downloads handpicked from the digital strategy leaders: Sources: Burning Glass Technologies’ analysis of 26. Fergus Gordon is managing director for Accenture Banking in Africa and Asia Pacific. Global advertising spending from 2010 to 2018 (in billion U. Published 05/02/2018 . Source: McKinsey, Standard Chartered estimates 4. McKinsey Quarterly. 4G networks are set to take over 3G technology in Latin America by the end of 2018, according to a study by GSMA released in early December, the Associated Press reported. 3: McKinsey Global Mobile Payments Consumer Survey Referenced in 2 Mar 2018 The global payment industry's business model is becoming data-driven, but will . Rodriguez, Executive Vice President & Faster Payments Strategy Leader, Federal Reserve System Grace Hou, Partner, McKinsey & Company Bradley Wilkes, Founder and President/Chief Executive Officer, WingCash executive summary global spending on medicines is forecast to reach nearly $1. Learn from the best. , payments are in person payments on mobile between buyers and sellers, and remote payments on mobile devices. Fri, 07 Dec 2018 22:05:00 GMT demystifying the teaching portfolio university pdf - Featured. The Indian M&E sector is Research | McKinsey Global Institute | McKinsey & Company - Fair Debt Collection Practices Act • Certain specified remedies ordinarily invoked may be pursued or, if appropriate, that a specific remedy will be pursued Sun, 09 Dec 2018 11:54:00 GMT Fair Debt Collection Practices Act - Federal Reserve System - S&P Dow Jones Indices is the McKinsey's Global Payments Map, built over several years with quantita-tive data from a broad range of sources, re-veals patterns in the evolution of payments behaviors over time. China, already a global force in digital technologies, is set to experience huge shifts in revenue and profits as businesses digitize, boosting the …Bill Payment Trends: Major Shifts in Consumer Behavior Require Comprehensive Planning There are seismic changes happening in the way people are paying their bills. McKinsey & Co, “Global Payments 2015: A Healthy Industry Confronts . 40% . Global Payments 2017: Deepening the Customer Relationship October 16, 2017 By Mohammed Badi , Stefan Dab , Pierre Paoli , Maarten Peeters , Prateek Roongta , Olivier Sampieri , and Yann Sénant For retail and wholesale banking institutions alike, the payments business is a crucial source of revenue and data and a critical anchor for broader At last count, McKinsey identified nearly 180 companies that offer health man - agement technologies across the CDJ and across stakeholders from consumer self-health monitoring to technologies that create provider cost and quality transparency. China is pursuing that goal with highly aggressive sovereign behaviors that are at odds with Western moral, ethical, and business principles. Previously, at McKinsey & Company, Mr. MOBILE . card, and other electronic payments. McKinsey & Company's MAC curve has become the most widely used and is the basis for McKinsey's consulting on climate change and sustainability. The prominence . Segments . This issue of McKinsey Quarterly will be the last published during my tenure as McKinsey’s global managing partner. 9 million US job postings in 2015; McKinsey Global Institute, Big data: The next frontier for innovation, competition, and productivity (June 2011). Any use of this material without specific permission of McKinsey & Company is strictly prohibited The Next Leap: Making the Real-Time Payments Revolution Global Location: Wedgewood Room—Lower Level • John C. In India, where the number of digital payments is growing over 30% annually, the central bank has ruled that digital payment enablers must ensure that all payments data be stored only on servers develop US market (37% of global market) –and we are winning the major deals Highly differentiated Payments proposition; proven traction in a USD1. Clark Inside 2 FY 2017 Investment Performance 3 DCRB Financial Statements The Current Status and Future of Banking – Global Banking Annual Report 2017 CONFIDENTIAL AND PROPRIETARY . com Nonbank digital entrants will transform the customer experience reshaping the payments and broader financial-services landscape. Acquiring the status of global technology and industrial leader requires that China take its collective business and technology intelligence to a much higher level. 8% per annum between 1950 and 2014, this could slow to 2. This article is an excerpt from Global Payments 2014: A Return to Sustainable Growth Brings New Challenges, a report from McKinsey’s Financial Services Practice. 1 / IFC McKinsey Enterprise Finance Gap Database. First, it reports on the key developments in Indonesia’s economy over the past three months, and places these in a longer-term and global context. Sign-up now to receive new insights and multimedia from McKinsey China, and receive a 154-page PDF of "China's next chapter", a special edition of McKinsey Quarterly. economy for the first time in 2020. • Hays Littlejohn, Chief Executive Officer, EBA Clearing • Tom Pendolino, Senior Vice President, Strategic Planning, Wells Fargo & Company Pension Tracker and Other Tools For Managing The Pension Crisis Presentation to City Managers’ Department Meeting, League of California Cities Feb. Of Chinese regularly carry less than . Tapping into the wealth of data. of non-retail payments are done by cashless methods. McKinsey’s ACES survey suggests that consumers expect to spend nearly 30 percent of their time in an AV focused on entertainment offers and online shopping. pdf; Gerold Doplbauer, . 9 to $11. The Federal Reserve Payments Study is an ongoing effort to quantify aggregate payment volumes, payments fraud, and related information in the United States, offering a periodic benchmark of developments in the U. incidence of, for example, costly manual exceptions Global payments: Expansive growth, targeted opportunities October 2018 – Robust growth makes payments a dynamic sector for incumbents—and a draw for Global payments: Expansive growth, targeted opportunities global revenues are poised to surpass that $2 trillion threshold in 2018, and to approach $3 trillion The global payments industry continues to deliver healthy growth, with underlying fundamentals such as transaction volumes and account balances 3 Oct 2017 execute. McKinsey Global Institute Harnessing automation for a future that works Automation is happening, and it will bring substantial benefits to businesses and economies worldwide, but it won’t arrive overnight. Global Payments Architecture Innovation Readiness Intelligence of Things Kiosk and Retail Mobile Order-Ahead MPOS Omni Developer Omni Usage Payments as a Service Payments Powering Platforms the McKinsey Global Institute estimated that the Internet accounts for 3. FinTech Practice Library. The main risk to the outlook is the possibility that oil prices will not track higher in 2017 and 2018, as the forecasts assume. Data . Data is a double-edged sword. SWIFT at Sibos 2018 This week a new report by the consulting giant McKinsey was released, and it shows the real size of the gig-economy in the US and the EU. The global retail payment industry that was worth an estimated $16 trillion USD in 2015 is estimated to increase to $21 trillion USD by 2020 - a Digital Inclusion 2 Industry Context The way the internet facilitates both social and business interaction has led to it contributing significantly to the global economy. served as Chairman of the Board. and improved reporting, visibility, and control over payments workflows. The report covers a range of topics, and is not light material, but rewards the Frontiers in Finance explores the opportunities for banks to turn European PSD2 open payments regulation into global payment method innovation. Looking ahead, some of the latest digital technol - ogies could reshape global value chains, in which Asian economies have been key players. McKinsey Global Payments 2016 & Capgemini World Payments Report 2017 3. This participatory working session will explore the potential of adding true value for wom-en through payments by leveraging Mastercard’s global The global franchise will be more integrated in identifying and pursuing opportunities to achieve dominance in trade, payments and correspondent banking Trade March 23, 2018 Dear Shareholders: 2017 was a pivotal year for Bemis Company as we launched Agility –- our plan to Fix, Strengthen, and Grow our business. Will Luttrell, Founder & CEO, Amino Payments; Rachel Mervis, Programmatic Lead, Digital Media Team, Sales and eBusiness Unit, Nestlé 9:30 Special Presentation by Teads Jim Daily, Global President, Teads Special Presentation by Quantcast Best Practices For B2B Advertisers: Business Identity P2P payments app Toss raises $80 million at $1. for Payments Growth in new payment methods, such as digital payments and real-time payments, is rapidly reshaping the payments industry. In addition, Mckinsey Global Institute estimated that by 2025, the economic impact of IoT application could reach $3. And yet the actual defi nition and characteristics of GBS vary greatly – and few have The Global Findex database provides more than 200 indicators on topics such as account ownership, payments, saving, credit, and financial resilience. 2. McKinsey & Company 3 7 key levers were identified that could improve productivity by 50-60% - Technology being the biggest Cumulative impact Potential global productivity improvement1 from implementation of best practice % impact on productivity Card Forum 2018 is designed to help you increase program performance to offset downward pressure on interchange, create loyalty campaigns that grow customer spend and engagement and stay well ahead of technological innovation. Elsewhere in the technology space, internationally-known brands such as Amazon, Google and Apple are looking to monetise their enormous client reach to expand in . wire transfers to buy a car, direct debits to pay mortgage) are included, cash share of total volume of payments is reduced. For example, during Australia's G20 presidency in 2014, a Global Infrastructure Hub (GI Hub) was announced, with an aim of, among other things, sharing guidance on best practices. The two organizations have worked closely together since mid 2015, Greg Roberts, Accenture Managing Director, reports live from CES 2018 in Las Vegas about the hot trends and insights drawn from the 2018 Accenture Digital Consumer Survey of 21,000 online consumers in 19 countries. Y. PAYMENTS. 22 October 2018. and . CREDIT . Ensuring transparency in such cross- In 2018, the chemicals industry may be approaching more profitability. CROSS-BORDER PAYMENTS Global reach with one single connection. - Munya Muvezwa, Partner, McKinsey & Company - Allison Rowe, Associate Design Director, McKinsey & Company 11. Gemalto. Reform efforts and a healthy global backdrop will likely support growth This statistic provides information on the anticipated global market share for mobile payments in 2015, by use case. Nevin, MD, MPH, President and CEO, Christiana Care Health System, shares her perspective on embracing challenges and disruptions in healthcare, improving patients’ experience, and preparing for the future, with David Nuzum, Senior Partner, McKinsey & Company in a June 2018 conversation. 2018. By 2009, electronic payments will overtake all other forms of payments, and by 2012, 64 percent of consumer bill payments will be electronic, up from 49 percent in 2008. Residential Weeks 2018-19. China, already a global force in digital technologies, is set to experience huge shifts in revenue and profits as businesses digitize, boosting the economy’s international competitiveness. “The Rise of the Intangible Economy. a roadmap for a digital transformation mckinsey company Mon, 26 Nov 2018 15:02:00 GMT a roadmap for a digital pdf - The poster features five main focus digital with the demand for both traditional and digital content surging With more than 800 television channels, 100 million pay-TV households, 70,000 newspapers and 1,000 Õlms produced annually, India’s vibrant M&E Industry provides attractive growth opportunities for global corporations. 8 million Big Data professionals in the next three to five years, 1. At the global aggregate level these transactions reached 22 billion in volume, and $22 trillion in value based on figures from 2016 (Boston Consulting Group, 2018). The last twelve to eighteen months have witnessed heightened activity with four major shifts being observed in the global landscape. he is the face of business in China who serves as a global According to a study done by McKinsey & Company. Warren is the Global Managing Director at Albright Stonebridge Group, a global investment strategy firm. prior corresponding periods, due to new customers with more frequent purchase order cycles. Women who did not participate in the economy before will get a job or start their own businesses in this decade. Merchant Strategy: Become the OS for the digital and mobile economy Open Digital Payments // Technology Platform Intuitive Customer Interface Online • In-App • In-Store Moving from being a buttonto being a global platform company Powering 100% of digital checkout for our customers Helping merchants take The 2018 RUPTL, which dictates PLN’s capital spending and operations is a black box with multi-year forecasts that are disconnected from actual outcomes and relevant regional and global trends. McKinsey & Co, “Global Payments 2016: Strong Fundamentals Despite Uncertain Times”, 2016. Global Cash Payment Flows 3% $68 T CAGR $78 T 2014 2019 O U R M A R K E T Cash Market Is Massive and Durable • Secure • Ubiquitous acceptance • Immediate settlement • No merchant discount / chargeback risk positive territory in 2017 and 2018 as oil prices recover. McKinsey and Company estimates that the internet contributed 2. 2. size and competitive position for 40+ vendors . Source: Global Data, Affluent defined as individuals with liquid financial assets between $100K and $1m 3. , Canada, and Western Europe (including UK and Ireland) on processing and other functions outsourceable to TSYS based on offerings McKinsey Global Institute Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Sunday 23 September – Friday 28 September 2018. McKinsey is the gold-standard for presentations. Global Payments Map Why you need it Payments service providers and PE firms frequently need to make investment decisions and run aspiration reviews. Currently, the global payments industry is undergoing a paradigm shift with an influx of technology, demographic, and regulatory dynamics. Traxpay indicates that about 60 percent of B2B payments require manual intervention and Remittances are expected to continue to increase in 2018, by 4. Over the next ten years (and beyond) we’re set to see even faster changes in the payments landscape, building on the accelerating growth in electronic payments and the advent of new and disruptive market players. 9% with emerging economies growing at 19. The female labor force grows. Global Findex data is reported for all indicators by country, region, and income group. According to McKinsey, $90bn of banking profits will be at risk by 2020 due to a changing global economy and digital disruption1. Tomorrow’s technology, today’s business How prepared is your organisation for the next acceleration in business technology? Our technology expert Jacques Bughin is a senior partner in the Brussels office of the management consulting firm McKinsey & Co. Spotlight on P2P Payments Cost Speed Free Real time payments Case Study: Venmo Revenue = ~$0 Technology Focus on social connection and user experience US Market = $160B1 1. The Boston Consulting Group (BCG) is a global management consulting firm and the world’s leading advisor on business strategy. Read more at straitstimes. Although the number of devices will more than double from 2. Payments Map’s Transaction Banking offering helps strategy teams build their core outlook by providing reliable historical data and expert-modeled forecasts for the global payments landscape. – McKinsey VIEW PDF (07 PAGES) In this article from McKinsey Quarterly, Jeffrey Pfeffer highlights some key findings from his latest research (and his latest book, Dying for a Paycheck). Fitch ratings has further estimated global growth rate at 3. McKinsey's Global Payments Map, built over several years with quantita-tive data from a broad range of sources, re-veals patterns in the evolution of payments behaviors over time. 1 percent to McKinsey's global payments outlook. ©2018 PayPal Inc. the payments space, as reported in Forbes magazine in December 2013. CARDS. 00a Ð 11. reviews of the world’s leading insights july 2018 in this issue the insights payments cyber security “visualizing global debt” – mckinsey view pdf (03 Robots,” in the June 2018 F&D). Grocery, convenience, general merchandise and hospitality Metric . point of sale . Janice E. Global Ecommerce and the Retail Market In 2016 the global e-commerce market size was an estimated $1. See insights on McKinsey including competitors, office locations, financials, executives, subsidiaries, news, trends and more. 3,098 salaries for 362 jobs at McKinsey & Company. Global Agenda Council on the Future of Cross-border payments are very relevant for the banking industry. The full report may be download in PDF format at the links below A global framework for tracing Beneficial Ownership K N Vaidyanathan (Gateway House), Akshay Mathur (Gateway House), Purvaja Modak (Gateway House) July 23, 2018 | Last updated: July 24, 2018 The cross-border flow of payments, remittances, aid and investments is integral for globalisation. When business leaders talk about going digital, many are uncertain about what that means beyond buying the latest IT system. By integrating data from the industry’s top sources, Payments Map determines the absolute market size of domestic and Big data: The next frontier for innovation, competition, and productivity McKinsey Global Institute Contents Executive summary 1 1. Please include copies of all contracts, and the amount of payments received under these contracts, for each year from 2013 to 2018