Tag: McKinsey

Fintech Disruptive Moves Threaten Kenyan banks-McKinsey

Fintech Disruptive Moves Threaten Kenyan banks-McKinsey

Business, Mobile, Technology
McKinsey & Company has warned that Kenyan banks risk being crowded out of the daily payments and commerce space in financial intermediation by agile and innovative financial technology (fintech) companies and must act urgently to protect their turf, global consultancy. “In devising their strategies, banks could focus on owning the next generation payments landscape (for example contactless, QR, e-commerce etc) and building an ecosystem of value added services to recapture share in everyday commerce and transactions,” said Tawanda Sibanda, a partner at McKinsey. “Banks could also move first to serve the long-tail of underserved small and medium-sized enterprises (SMEs) in the market through entirely digital offerings.” The firm says, in its eighth annual review of the global bankin

China Terminates McKinsey and other U.S. Consultants in Retaliation against Cyber Indictments

Governance, Internet
Beijing, China :The Financial Times, citing “people close to senior Chinese leaders,” reported that Beijing has ordered state enterprises to cut dealings with U.S. consulting firms, accusing them of spying for Washington.  The “instruction,” as the paper called it, was handed down after U.S. Attorney General Eric Holder announced indictments against five Chinese military officers for “serious cybersecurity breaches.” According to Forbes reports “The top leadership has proposed setting up a team of Chinese domestic consultants who are particularly focused on information systems in order to seize back this power from the foreign companies,” the paper quoted a “senior policy adviser to the Chinese leadership.”  “Right now the foreigners use their consulting companies to find out everythi