Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do

by Brett King

Overview

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 months—took 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 payments—from 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 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

Product Details

ISBN-13:	9781118589649
Publisher:	Wiley
Publication date:	11/19/2012
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	400
File size:	7 MB

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