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on 2 July 2010
Technological innovations are introduced and accepted with increasing speed. While it took television 22 years to reach mass adaptation, it took the PC 14, Internet 7 and Facebook 2 years. With current mobile developments (iPhone, Android), it's clear that the direction of all these innovations is to give people access to information and services at all times and places.

Result is that the use of technology changes the behavior of people as customers. We have seen this in many areas; we order products like books and tickets online. We expect excellent service, and if we don't get it, we let the world know through blogs and twitter.

Financial Services, and especially banking, is not keeping up with the changing demands of customers. The only reason they get away with that is that the barriers to entry the banking market are very high. This is about to change, as customers become less reluctant to change bank, and new companies like Google, Facebook and Amazon develop the resources and the incentive to enter the market.

Bank 2.0 is a comprehensive book about how these two drivers - customer behavior and technology - are changing the future of financial services. It starts with an introduction which addresses how distribution channels are often still based on the branch as the primary channel, with alternative channels as an addition. But customers demand a consistent experience across the bank and just want to deal with their bank in the most efficient way.

Part 2 of the book deals with various channels and how they can be improved. These include branches, contact centers, the web, mobile and ATM's. Each chapter describes global trends and case studies, backed up with relevant statistics. Brett makes practical suggestions many of which could easily be implemented.

The last section provides a glimpse into the future, showing how some cutting edge innovations currently in development in various areas are coming together and completely changing the landscape of the financial services industry. These areas include technology but also social networking and advertising.

Bank 2.0 is a very comprehensive and well researched book which should be read by everyone responsible for - or interested in - innovation in banking.
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on 14 June 2010
Service in the financial sector is no longer about friendly representatives in the branch, efficient voices at the Call Center, ATM machines that work perfectly every time, websites that are fast, secure and easy to navigate. It is about ALL of these channels, and more - much more every day.

Brett King is the first author to delve deeply into the consequences of this cross channel experience, explaining in clear terms and with global examples where the banking industry is today, and where it is headed in the future. He explains the migration from cash to chips, the convergence of banks and phones, and the transformations that will be required in advertising, technology and organizational dynamics and design.

If you are in the industry and want to know where things are headed, this is as close as you will come to a crystal ball for the future. If you are a bank customer, you will find this a fasinating read that likely puts you ahead of your own bank in preparation, insight and understanding.
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on 10 September 2012
I bought this book to learn about the future marketing challenges faced by people working in the banking industry. This book gave me what I wanted, both an opportunity to see inside the banking industry and a strong viewpoint as to what will make banks successful. Brett King portrays the industry as a slow moving, non-customer centric business still structured around the branch channel. He challenges the industry to move with their customers and in particular to exploit the opportunities provided by advances in technology to better meet customer needs. Key capabilities required going forward are excellence in understanding how customers interact with their bank cross-channel, supported by teams capable of delivering streamlined and personalised customer experiences at every touchpoint.

If you are a non-financial marketer or an interactive marketer familiar with customer needs analysis and usability best practices then you may find that some chapters of the book 'preach' what you already 'practice'. This is not a criticism of the book itself, as it appears evident that the banking industry can adopt many best practices already established in other industry verticals. Bank 2.0 is targeted at people working in the banking industry, and provides a clear, well researched and structured viewpoint of how the industry should develop.
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on 3 March 2011
Banks are established institutions dating back to early Middle Ages who have survived many revolutions. Most of these revolutions wiped them off the map because these venerables entities could not grasp the set and pace of changes around them. The latest iteration of technological advancements proposes the reenaction of the past - but also holds a promise for a transformation of services - as revolution all do.

That's basically the sum-up of Bank 2.0 - and that's absolutely the most useful book for bankers. Most of the books just tell you the stories where innovation happened and why that matter. Bank 2.0 tells you, where it is going to happen in the next several years. To best it, banks have to get smart. New technology usage for consumers is all about smart choices. Some good choices for banks are provided by Brett King.
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on 24 November 2011
As a professional working in retail banking, I have found this book an excellent guide to the future of the retail environment. Packed with great observations, opinions and ideas this book should be read by anyone with an interest in retail banking and technology.
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on 31 August 2010
Starting and ending with the customer this book is essential reading for anyone looking to set up a new retail bank in the UK.

In the UK we are seeing a number of new entrants looking at the potential to enter the retail banking market. Not everyone has traditional banking experience but with the significant change over the last decade in customer service expectations, Brett's book clearly states the areas that any new entrant should be looking to understand.

And yes traditional banking board structures and responsibilities are under threat. Compliance and risk officers becoming customer advocates, silo minded product managers driven by out dated KPIs , IT directors working with and reporting directly to senior management and contact centre workers truly empowered to help customers !
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on 22 April 2011
I did enjoy the experience of buying this book. It concerns the banking managers and stakeholders of financial services. It has a section of future banking services and how the modern technology will lead the future of the delivery of financial services. Generally speaking, it should be on your office desktop if you have banking interests.
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on 26 October 2012
Great book, reads easy. Can't wait for the bank 3.0 book. I met the writer recently since he was a speaker on a seminar in Rome, and I'm sure he has a great vision on banking in the future.
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