Bank 3.0

Build great customer journeys, and banking becomes a solution to the problems every day for your customers.

innovate and experiment. Things move so fast technologically these days that you can’t wait until a trend is three years into its cycle to adapt

The Checklist
Here are the critical developments organisationally and intellectually your bank has to make over the coming couple of years:

• Digital competency is core

• Deleveraging branches to a supporting role

• Banking is about context and journeys

• Customer dialogue informs strategy

• Agile IT might be in the cloud

The future will be written by organisations that know us so well that they anticipate our needs, make it very simple for us to capitalise on the relationship, save us money, and respect our time and privacy. Trust can be earned back, but it is about me trusting you enough to receive your offers and you not burning that trust with irrelevant direct mail, newspaper ads and TV commercials.

The advantages that private cloud implementations offer are the security of a private, secure system, and the agility, utility and simplicity of conventional cloud architecture

I Trust the Crowd,
More Than I Trust
the Brand

According to the World Bank, 175 million migrant workers each year send billions of dollars’ worth of international remittances to family and friends, many of whom do not have bank accounts.

Mainstream financial institutions generally shy away from developing economies because of the premise that low-income populations do not save and are bad borrowers. However, the microfinance revolution effectively shattered these myths by demonstrating that when poor households have access to financial services, not only do they save, they also have high repayment rates and low default rates when they borrow. Muhammad Yunus, the founder of Grameen Bank in Bangladesh, was awarded the Nobel Peace Prize in 2006 for his efforts to revolutionise microcredit on the subcontinent.

The Mobile Marketing Association of Asia has stated that out of the six billion people on the planet, 4.8 billion have a mobile phone while only 4.2 billion own a toothbrush

Tesco in South Korea created a virtual store in the subway where commuters can buy their groceries out of a virtual wall. Consumers only need to scan QR codes with their smartphones and products are added to their virtual cart and then delivered to their homes as soon as they are back.