Synopses & Reviews
Praise for
BANK 2.0"The impact of the Internet and mobile devices has made the rules in managing channels and how we reach customers a moving target. This book does something that no one I know has been able to do thus farteach us to re-design our instincts first and then our knowledge about how this moving target will evolve."
Emmanuel Daniel, Chairman, The Asian Banker Journal
"BANK 2.0 represents a view of the future of bank retailing and channel strategies for the next decade. The fact that banks take so long to respond to these changes to the status quo means that any bank acting upon the key recommendations in this book will be a step ahead of the competition, and that surely is no bad thing. Now think what you could be if you acted upon all of the recommendations."
Chris Skinner, Chairman, Financial Services Club
"BANK 2.0 will change the way you think about banking in the future. Audacious, provocative, and sometimes controversial, Brett King redefines the paradigm of consumer banking. This compelling book is guaranteed to send your pulse racing and your mind searching for a new strategy for your bank."
Suvo Sarkar, Executive Vice-President, Emirates NBD
"BANK 2.0 is informed by Brett King's analysis of trends in banking over many years. ... I've worked with Brett and I have seen some of the results; they explain why Brett is highly sought after as an authority on banking and how the industry is likely to evolve into the future."
Dr. Richard Petty, President, CPA Australia
Synopsis
The first edition of BANK 2.0 took the financial services world by storm and became synonymous with disruptive customer behaviour, technology shift and new banking models. In BANK 3.0, Brett King looks at the latest trends that are redefining financial services and payments. From the global scramble for dominance of the mobile wallet, the expectations created by tablet computing, the operationalizing of the cloud and the explosion of social media he explores:
• How Social Media has exposed pricing, over-regulation, outdated processes and poor policy,
• How mobile technology is completely changing the context of banking,
• How customer advocacy is killing traditional brand marketing,
• The growth of the 'de-banked' consumer who doesn't need a bank at all; and
• Why Banking is no longer a place you go, but something you do
BANK 3.0 shows that the gap between customer and financial services players is rapidly growing, leaving massive opportunities for new, non-bank competitors to totally disrupt the industry.
Synopsis
The first edition of
BANK 2.0#1 on Amazon's bestseller list for banking and finance in the US, UK, Germany, France, and Japan for over 18 monthstook the financial world by storm and became synonymous with disruptive customer behaviour, technology shift, and new banking models.
In BANK 3.0, Brett King brings the story up to date with the latest trends redefining financial services and paymentsfrom the global scramble for dominance of the mobile wallet and the expectations created by tablet computing to the operationalising of the cloud, the explosion of social media, and the rise of the de-banked consumer, who doesn't need a bank at all.
BANK 3.0 shows that the gap between customers and financial services players is rapidly widening, leaving massive opportunities for new, non-bank competitors to totally disrupt the industry.
"On the Web and on Mobile, the customer isn't kinghe's dictator. Highly impatient, skeptical, cynical. Brett King understands deeply what drives this new hard-nosed customer. Banking professionals would do well to heed his advice."
Gerry McGovern, author of Killer Web Content
About the Author
Brett King is a strategic advisor to the financial services sector and the founder of the International Academy of Financial Management, a professional association focused on financial services. He is an International Judge for the Asian Banker Retail Excellence Awards and for the Middle-East Business Achievement Awards.
A regular speaker at the top global conferences for financial services, King is an acknowledged expert on wealth management, customer experience, and retail channel distribution strategy. He publishes regularly in his role as industry advisor on Huffington Post (Business News), Internet Evolution, and his personal blog, Banking4Tomorrow.com.
King is the founder of the world's first mobile direct bank, Movenbank. He also runs UserStrategy, a boutique consultancy focused on improving customer interaction for leading financial services, companies and businesses. He previously led the Asia division for Modem Media/Digitas (part of the Publicis Groupe) and the E-Business service line for Deloitte (Financial Institutions Industry focus). His clients include HSBC, Citigroup, UBS, Standard Chartered, Abu Dhabi Commercial Bank, Emirates NBD, BNP Paribas, and more.
Table of Contents
Acknowledgements 12
Introduction 14
PART ONE: Changes in Customer Behavior
Chapter 1: The Demands of the Hyperconnected Consumer 20
Chapter 2: The ROI of Great Customer Experience 48
PART TWO: Rebuilding the Bank
Chapter 3 Can the Branch be Saved? 84
Chapter 4: Onboard and Engaged–The Ecosystem for Customer Support 120
Chapter 5: Web–Why Revenue is Still So Hard to Find… 155
Chapter 6: Mobile Banking—Already Huge and It’s Just Getting Started 181
Chapter 7: The Evolution of Self-Service 207
Chapter 8: I Trust the Crowd, More Than I Trust the Brand 235
PART THREE: The Road Ahead—Beyond Channel
Chapter 9: Living with Continuous Technology Improvement 268
Chapter 10: A land in the Data Cloud 288
Chapter 11: Engagement Banking: Building Digital Relationships 309
Chapter 12: Mobile Payments, Digital Cash and Value Stores 329
Chapter 13: Point of Impact: The Contextualisation of Banking and Messaging 359
Chapter 14: The road Map to a Better Bank 374
Glossary 388
References 397