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

Book Description

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

Table of Contents

  1. Cover
  2. Contents
  3. Title
  4. Copyright
  5. Dedication
  6. Acknowledgements
  7. Introduction
  8. Part 01: Changes in Customer Behaviour
    1. Chapter 1: The Demands of the Hyperconnected Consumer
      1. Psychological impact
      2. Process of diffusion
      3. The four phases of behavioural disruption
      4. Retail banking disruption and the de-banked
      5. Utility and service are the new differentiators
    2. Chapter 2: The ROI of Great Customer Experience
      1. Channel silos
      2. Organisation structure
      3. The Branch versus Online versus Mobile debate
      4. Breaking bad inertia
  9. Part 02: Rebuilding the Bank
    1. Chapter 3: Can the Branch be Saved?
      1. Always banking, never at a bank™
      2. The core function of the branch in the 21st century
      3. Branch innovations built to engage
      4. What happens when they don’t visit anymore?
      5. Branch improvements today
    2. Chapter 4: Onboard and Engaged—The Ecosystem for Customer Support
      1. The need for better support
      2. Siri, Lola, Skype and VoIP
      3. When a consumer wants to become a customer
      4. Customer-centred means organisational change
      5. Responsive architecture
      6. Conclusions: Tactical channel improvement
    3. Chapter 5: Web—Why Revenue Is Still So Hard To Find . . .
      1. Why aren’t we buying more online?
      2. What sells online?
      3. Screen (web/tablet/mobile) first
      4. Cross-sell to existing customers
      5. Internet channel improvement today
    4. Chapter 6: Mobile Banking—Already Huge and It’s Just Getting Started
      1. The greatest device ever sold
      2. The landscape
      3. Bringing banking to the unbanked
      4. What does the future hold?
    5. Chapter 7: The Evolution of Self-Service
      1. Self-service banking—where it all started
      2. Are ATMs more than just cash dispensers?
      3. The next 10 years
      4. Conclusions
    6. Chapter 8: I Trust the Crowd, More Than I Trust the Brand
      1. Social media grows up
      2. What is it good for?
      3. You can’t control the crowd
      4. Advocacy and influence—the real ROI
      5. Crowdsourcing—use the power of the crowd
      6. Conclusions: What it all means
  10. Part 03: The Road Ahead—Beyond Channel
    1. Chapter 9: Living with Continuous Technology Improvement
      1. Faster, smaller, smarter
      2. Enterprise-wide implications
    2. Chapter 10: A Land in the Data Cloud
      1. Big Data
      2. Augmented reality
    3. Chapter 11: Engagement Banking: Building Digital Relationships
      1. The era of customer engagement
      2. Engaging in the dialogue
      3. Risk mitigation versus ROI
      4. Engaging the overwhelmed prosumer
    4. Chapter 12: Mobile Payments, Digital Cash and Value Stores
      1. Are mobile payments mainstream?
      2. The emergence of the mobile wallet
      3. Who will win the wallet battle?
      4. Virtual currencies
      5. Mobile P2P payments
      6. Point-of-sale evolution
      7. Conclusion: Mobile payments and quickly
    5. Chapter 13: Point of Impact: The Contextualisation of Banking and Messaging
      1. Going, going, gone . . .
      2. Context is king
      3. When push comes to shove . . .
      4. Point-of-impact journeys
      5. Conclusions
    6. Chapter 14: The Road Map to a Better Bank
      1. Your critical path checklist for Bank 3.0
      2. The Checklist
      3. Conclusions
  11. Glossary
  12. References