Mmastodon BusinessBanking first seen 21 h ago, last 4 h ago, peak #3
Payments income now about 40% of global banking revenue
Original: Payments income bolsters banks Income from card, digital and other rails has swelled to about 40% of revenue for the glo
Income from card, digital and other payment rails has grown to roughly 40% of revenue for the global banking industry, according to consulting firm McKinsey. The finding highlights how fee-generating payment services, rather than traditional lending alone, have become a major pillar of bank earnings as financial institutions expand digital and transaction-based offerings.
Why now: McKinsey's new estimate shows how significantly payments have reshaped the banking industry's revenue mix.
McKinseyglobal banking industry
Evidence
API: https://socialmediatrends-api.osmike.com/v1/trends/1755884