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Bank 2.0

Book Description

BANK 2.0 reveals why customer behaviour is so rapidly changing, how branches will evolve, why cheques are disappearing, and why your mobile phone will replace your wallet—all within the next 10 years.

Table of Contents

  1. Preface
  2. Acknowledgements
  3. Introduction
    1. Can You Build RelationshipsThrough Technology?
    2. The Customer Experience
    3. Making the Case with SeniorManagement
  4. Part 01 Changes in Customer Behavior
    1. 1 What the Internet and “CrackBerry” Have Taught Customers
      1. Psychological Impact
      2. Process of Diffusion
      3. The Three Phases of BehaviouralDisruption
      4. Customer Empowerment
      5. Putting Service Back IntoFinancial Services
    2. 2 Measuring the Customer Experience
      1. Channel Silos
      2. Organisation Structure
      3. Policy and organisationalstrategy—the bailout fallout
      4. Customer value innovation
      5. Customers? Who Are They Again?
      6. Which product works best on whichchannel?
      7. How do we ensure it works when weimplement it?
      8. Conclusion
  5. Part  02 Fixing the Broken Bits – Channel Improvement
    1. 3 Rebuilding the Branch One Customer at a Time
      1. The Core Function of the Branch inthe 21st Century
      2. United States and Canada
      3. United Kingdom
      4. Australia, New Zealand
      5. Europe
      6. So change is inevitable—deal withit and thrive
      7. Branch Models Emerging That WillSurvive in the Bank 2.0 World
      8. Flagship branches—the virginmegastores of banking
      9. Bank-shops and pop-up branches
      10. Coffee shop, automated andself-service branches
      11. Third-party branches
      12. Branch Improvements Today
      13. Customer Dashboards
    2. 4 “Please Hang Up and Try Again”—Contact Centres and IVRs
      1. The Rise of the Call Centre
      2. Capitalising on Sales Opportunities
      3. Better targeting
      4. Better sales conversations
      5. Staff Turnover and EmployeeEngagement
      6. Getting staff retention right
      7. Employee engagement and creating aservice culture
      8. Consistency and Quality ofCommunication
      9. The danger of unbridled emailcommunications
      10. Relationship Manager, PriorityBanking Team
      11. Quick Access to the RightInformation
      12. Improving the “Invasive VirtualResistance” System
      13. Going Green
      14. Customer Advocacy
      15. Tactical Channel Improvement
    3. 5 Web—More than 10 Years Old ... and Still Broken
      1. Stage 1:  Informal whiteboardsketch
      2. Stage 2:  Formal sketch (lo-fi)ready for usability test
      3. Stage 3: Creative concept andimplementation
      4. Value Exchange and Content Scoring
      5. Cross-Sell to Existing Customers
      6. Best Practice Website Templates
      7. Internet Channel Improvement Today
    4. 6 Mobile—The New Internet and Death of Cash?
      1. From WAP to iPhone —The Emergenceof Portable Banking
      2. Device Platform—Why MotorolaFailed, and Why BlackBerry Still Might
      3. Operating Systems and SoftwareStacks—Driving Mobile Application Development
      4. Needs and Solutions—Why Mobile isa Viable Business
      5. Translating ATM, call centre andWeb analytics into a Web app
      6. Interface—Small Screen, BigPossibilities
      7. Revenue and Savings Opportunities
    5. 7 ATM and Self-Service Banking—Convergence and Control
      1. Self-Service Banking—Where It AllStarted
      2. Self-Service—the Promise and theReality
      3. What About the Revenue?
      4. The “Other” Self-Service Devices
      5. What the Customer Really Wants Outof the ATM
      6. Some insights from UserResearch
      7. Moving beyond just usabilityimprovements
      8. Future of Self-Service
      9. Advertising and Alternative Use
      10. Conclusion
    6. 8 Navigating Rapid Change Dynamics
      1. It Starts Today
      2. Where Will the Changes Impact theMost?
      3. What Are Some of the TrendsDictating Change?
      4. The Roadmap for Change—How LongHave We Got?
      5. Organisational Changes and Impact
      6. Conclusion—Tradition orInnovation?
  6. Part 03 The Road Ahead— Beyond Channel
    1. 9 Deep Impact—Technology and Disruptive Innovation
      1. Moore’s Law
      2. After Moore’s Law
      3. Materials Science
      4. Screen and “touch” technology
      5. Electronic paper and flexiblecircuit boards
      6. All This Data, All This Power?
      7. Enterprise-Wide Implications
    2. 10 Gridless Customer Experience —More Complexity, More Choice
      1. Your Inbox Needs to Change for theBetter
      2. A World Without Travel Agents andStockbrokers, But With Virtual Agents
      3. Avatars replacing IVRs
      4. What IVR will become by 2015
      5. Touchy Feely
      6. Computing in the Cloud
      7. Widgets
      8. Interacting With Your Environment
    3. 11 The Emergence of the Prosumer—Collective Intelligence, Social Networking and Web 2.0
      1. Are You Ready For Your SecondLife?
      2. The Prosumer— Why Web 2.0 Works
      3. Metcalfe’s Law—the nature ofnetworks
      4. What makes social networks sosuccessful?
      5. How Will Web 2.0 and SocialNetworks Transcend and Transform Banking?
      6. New ways of using networking
    4. 12 Future Payments and Cash—RFID, Biometrics, P2P Micropayments, Digital Cash
      1. Not Just Chip’d Cards, but Chip’dEverything
      2. Biometrics and no more passwords
      3. Virtual Currencies
      4. Mobile P2P Payments
      5. Point-of-Sale and Credit CardEvolution
      6. Phase I: Chip and PIN (currentevolution)
      7. Phase II: App phone integration (2to 4 years)
      8. Phase III: Card-less, phone-less,personalised?
      9. Conclusion—Mobile Payments andQuickly
    5. 13 Death of Advertising—Predictive and Precognitive Sales and Marketing
      1. Going, Going, Gone…
      2. What about the not-so-new media?
      3. And the new, new media?
      4. Banner blindness, SPAM and TiVo
      5. Not Just for Kids With Acne
      6. When Push Comes to Shove
      7. Push to pull, point-of-sale topoint-of-impact
      8. Phase I: Distributed applicationsat point-of-impact
      9. Phase II: Predictive selling ortriggered offers
      10. Phase III: Precognitive selling
      11. Conclusion
    6. 14 The BANK 2.0 Roadmap
      1. Your Critical Path Checklist ForBANK 2.0
      2. The Future Starts Here
      3. Technology and Innovation
      4. Organisational Impact
      5. BANK 2.0 Projects Roadmap
      6. Conclusion
  7. Part 04
    1. Glossary of Terms