Bank 3.0

Brett King

Description

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of the cloud and the explosion of social media he explores: How Social Media has exposed pricing, over-regulation, outdated processes and poor policy, How mobile technology is completely changing the context of banking, How customer advocacy is killing traditional brand marketing,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

Sujets

• Banking
• Economie gestion
• Bank

Informations

• Publié par: MarshallCavendishM
• Date de parution: 15 octobre 2012
• Nombre de lectures: 0
• EAN13: 9789814398992
• Langue: English

Extrait

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 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 in 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 is informed by Brett King s analysis of trends in banking over many years. Brett s work has led to significant performance improvements in some very large and well-respected financial institutions. 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
On the Web and on Mobile the customer isn t king-he 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
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 far-teach us to re-design our instincts first and then our knowledge about how this moving target will evolve. With the correct instinct, we will be able to respond correctly to the rules as they change. I am very grateful to Brett for putting down to paper the instincts that he has been able to hone over the years. Brett is a true international; he is probably one of the few I know who can draw from personal examples from across Asia, where as much and maybe more innovations are taking place in financial services, as anywhere else in the world.
Emmanuel Daniel, Chairman, The Asian Banker Journal
Creating more value for customers is a hallmark of successful and growing organisations. But the field of competitive battle has changed. What customers value today is different from what they appreciated years ago, and will be very different once again in the rapidly unfolding future. BANK 2.0 brings together Brett King s incomparable view of technology, strategy, customer value and delivering superior service. His insights are a must read for anyone who wants to attract and keep customers in the incredible years ahead. If you are a bank customer, you will find this a fascinating read that likely puts you ahead of your own bank in preparation, insight and understanding.
Ron Kaufman, bestselling author of Uplifting Service
BANK 2.0 is a very comprehensive and well-researched book that should be read by everyone responsible for-or interested in-innovation in banking.
BlueCoin
Brett King raises the bar very high for this book. At 397 pages, he delivers.
ABA Banking Journal
BANK 3.0

2013 Brett King and Marshall Cavendish (International) Asia Pte Ltd
Expanded and revised edition of Bank 2.0, first published 2010
All content information in this book is correct at press time. Care has been taken to trace the ownership of any copyright material contained in the book. Photographs are used with permission and credit given to the photographer or copyright holder.
Published in 2013 by
Marshall Cavendish Business
An imprint of Marshall Cavendish International
1 New Industrial Road, Singapore 536196
All rights reserved
No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Request for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: [phone]. Fax: [phone]. E-mail: [e-mail] . Website: www.marshallcavendish.com/genref
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no events be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages.
Other Marshall Cavendish Offices
Marshall Cavendish Corporation. 99 White Plains Road, Tarrytown NY 10591-9001, USA Marshall Cavendish International (Thailand) Co Ltd. 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia
Marshall Cavendish is a trademark of Times Publishing Limited
National Library Board, Singapore Cataloguing-in-Publication Data
King, Brett, 1968-
Bank 3.0 : why banking is no longer somewhere you go, but something you do / Brett King.
- Singapore : Marshall Cavendish Editions, 2013.
p. cm.
eISBN : 978 981 4398 99 2
1. Banks and banking - Customer services. 2. Financial services industry. 3. Internet banking. 4. Bank management. I. Title.
HG1601
332.17 -- dc23 OCN810055955
Cover art by Cover Kitchen
Printed in Singapore by KWF Printing Pte Ltd
To my family,
my father, who is my biggest fan, and
my Movenbank buddies, who are changing the world
- one line of code and one customer at a time
Contents
Acknowledgements
Introduction
PART ONE: Changes in Customer Behaviour
Chapter 1: The Demands of the Hyperconnected Consumer
Psychological impact
Process of diffusion
The four phases of behavioural disruption
Retail banking disruption and the de-banked
Utility and service are the new differentiators
Key lessons
Chapter 2: The ROI of Great Customer Experience
Channel silos
Organisation structure
The branch versus online versus mobile debate
Breaking bad inertia
Conclusions and key lessons
PART TWO: Rebuilding the Bank
Chapter 3: Can the Branch be Saved?
Always banking, never at a bank
The core function of the branch in the 21st century
Branch innovations built to engage
What happens when they don t visit anymore?
Branch improvements today
Key lessons
Chapter 4: Onboard and Engaged-The Ecosystem for Customer Support
The need for better support
Siri, Lola, Skype and VoIP
When a consumer wants to become a customer
Customer-centred means organisational change
Responsive architecture
Conclusions: Tactical channel improvement
Key lessons
Chapter 5: Web-Why Revenue is Still So Hard to Find
Why aren t we buying more online?
What sells online?
Screen (Web/Tablet/Mobile) first
Cross-sell to existing customers
Internet channel improvement today
Key lessons
Chapter 6: Mobile Banking-Already Huge and It s Just Getting Started
The greatest device ever sold
The landscape
Bringing banking to the unbanked
What does the future hold?
Key lessons
Chapter 7: The Evolution of Self-Service
Self-service banking-where it all started
Are ATMs more than just cash dispensers?
The next 10 years
Conclusions
Key questions
Chapter 8: I Trust the Crowd, More Than I Trust the Brand
Social media grows up
What is it good for?
You can t control the crowd
Advocacy and influence-the real ROI
Crowdsourcing-use the power of crowd
Conclusions: What it all means
PART THREE: The Road Ahead-Beyond Channel
Chapter 9: Living with Continuous Technology Improvement
Faster, smaller, smarter
Enterprise-wide implications
Key lessons
Chapter 10: A Land in the Data Cloud
Big data
Augmented reality
Conclusions
Chapter 11: Engagement Banking:
Building Digital Relationships
The era of customer engagement
Engaging in the dialogue
Risk mitigation versus ROI
Engaging the overwhelmed prosumer
Chapter 12: Mobile Payments, Digital Cash and Value Stores
Are mobile payments mainstream?
The emergence of the mobile wallet
Who will win the wallet battle?
Virtual currencies
Mobile P2P payments
Point-of-sale evolution
Conclusion: Mobile payments and quickly
Chapter 13: Point of Impact: The Contextualisation of Banking and Messaging
Going, going, gone
Context is king
When push comes to shove
Point-of-impact journeys
Conclusions
Chapter 14: The Road Map to a Better Bank
Your critical path checklist for Bank 3.0
The checklist
Conclusions
Glossary
References
Acknowledgements
I D LIKE to pass on my thanks to the following people who assisted me in pulling together this book.
To the team at HSBC, including Louisa Cheung, Peter Brooks, Martin Rawling, Christina Yung. To Matthew Dooley, Tom Cannon and Michael Armstrong as HSBC Alumni. To Steve Townend at MoBank, Ron Kaufman at UpYourService College, Ben May and Grace Lee for their help with the blogsite.
To Chris Skinner, who is the most prolific blogger I know in the FS space and who always has advice to offer-a complete banker. To Sean Clifford who remains a great pal and constant balancing force when I m thrashing out strategy.
To Alex Sion, Michael Degnan and the team at Sapient who helped me organise my thoughts on customer journeys and engagement banking, and to the teams at Innotribe and Anthemis, who provide the most amazing peer group opportunities in the space.
I would be remiss not to thank Geoff Bye (a fellow of the UK Chartered Institute of Marketing) and Scott Bales (Movenbank s Chief Mobile Officer) for their contributions to the bo