Germany’s retail banking customers are more digital and engaged than ever — offering banks a real opportunity to discover new revenue streams and strengthen customer relationships. Mobile interactions dominate, yet only a few German banks have been able to translate digital touchpoints into actual sales. International comparison shows clear avenues for improvement, particularly in digital sales via online and mobile channels and building conversational capabilities.
To seize the opportunity, banks in Germany and Austria need a step change, whereby they shift from digital servicing to digital sales with scalable, mobile-first, sales journeys, digital advisory, and seamless mobile orchestration of branches.
This chapter draws on insights generated through Finalta by McKinsey and the McKinsey Retail Banking Survey 2025.
Read chapter 2.
Chapter 1: It’s getting crowded in German retail banking
Germany’s retail banking market is experiencing its best years since 2011 — but pressure is mounting. As interest rates decline, the margin boost is fading, revealing which banks have been prioritizing short-term profits over sustainable transformation.
And that’s not all: competition is intensifying, too. More and more foreign banks are entering the market with sharp propositions and digital business models. Now, it’s up to incumbents to demonstrate how they can stand out in this increasingly contested environment and defend their position.
This chapter draws on insights generated through our proprietary McKinsey Panorama asset.
Read chapter 1.
Chapter 3 coming next Monday.
Autor:innen: Max Flötotto ist Senior Partner bei McKinsey, Ursula Weigl ist Partnerin, Lena Crüger ist Engagement Managerin, und Carolin Sperling ist Fellow Senior Associate.