- Hardcover: 360 pages
- Publisher: Marshall Cavendish International Asia; 1st edition (15 Aug. 2010)
- Language: English
- ISBN-10: 9814302074
- ISBN-13: 978-9814302074
- Product Dimensions: 23.7 x 16.3 x 3.1 cm
- Average Customer Review: 4.5 out of 5 stars See all reviews (8 customer reviews)
- Amazon Bestsellers Rank: 547,981 in Books (See Top 100 in Books)
Bank 2.0: How customer behaviour and technology will change the future of financial services Hardcover – 31 May 2010
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As overused as the word "innovation" may be, it's still an important concept to the financial services industry, where nimble newcomers can easily crop up and steal market share with the clever use of new technology and new communication outlets such as Twitter and Facebook. The innovators in these pages may not be the next Mark Zuckerberg or Steve Jobs. With a few exceptions, they're bankers and financial services executives who are adding new elements, such as crowdsourcing, mobile text alerts and context-aware computing, to more traditional financial services. But they're enhancing their offerings in a way that provides much-needed convenience, simplicity, debt assistance and faster access to credit. Our first choice, Brett King, stands out from the rest. He's one of the few who is not a banker, but on the contrary a bank critic. He doesn't have an actual product or working service yet. But the disrupter compay he plans to open this summer, Movenbank, will be closely watched by all in the industry. At a recent conference, King showed a video in which his toddler daughter was shown a magazine and practially cried as she tried to click on it and got nothing. Then she was offered an iPad and she began merrily clicking and swiping around on the user-friendly device. This is what banking needs to be like one day, King says: Frictionless, easy and fun. Will Movenbank make it so? We look forward to seeing what King accomplishes. --AmericanBanker.com, 2012
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 to 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... 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
About the Author
Brett King is the founder of the International Academy of Financial Management, one of the fastest growing professional associations and training institutes in the world. A regular speaker at top global conferences, he is an acknowledged expert on wealth management, customer experience and retail channel distribution strategy. He also runs User Strategy, a boutique consultancy focused on improving customer interaction for leading financial services companies and businesses. Brett previously helmed the Asia division of Modern Media and the E-Business service line for Deloitte. His clients include HSBC, Citigroup, UBS, Standard Chartered, Abu Dhabi Commercial Bank and many more.
Top Customer Reviews
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.Read more ›
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.
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.
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.
Most Recent Customer Reviews
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... Read morePublished on 26 Oct. 2012 by wim geukens
As a professional working in retail banking, I have found this book an excellent guide to the future of the retail environment. Read morePublished on 24 Nov. 2011 by Lumo
I did enjoy the experience of buying this book. It concerns the banking managers and stakeholders of financial services. Read morePublished on 22 April 2011 by Sulaiman Althuwaini