Bank 4.0 , livre ebook

Marshall Cavendish International - Brett King

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177 pages

English

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In the final book in the digital "BANK" series, Brett King tackles the topic of whether banks have a future at all in the emerging, technology embedded world of the 21st century. In 30-50 years when cash is gone, cards are gone and all vestiges of the traditional banking system have been re-engineered in real-time, what exactly will a bank look like? How will we reimagine a bank account, identity, value, assets, investments? Then stepping back from this vision of the future, King and his cadre of 'disruptors' and Fintech mafia chronicle the foundations of this new banking ecosystem today. From selfie-pay in China, blockchain in Africa, self-driving cars with their own bank accounts and augmented reality tech that informs the future design of banking systems, this proves once and for all that we're not in Wall Street anymore Toto. Bank 4.0 is what banking will become.

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Banking

Economie gestion

Bank

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Publié par	Marshall Cavendish International
Date de parution	31 juillet 2018
Nombre de lectures	1
EAN13	9789814828383
Langue	English
Poids de l'ouvrage	1 Mo

Informations légales : prix de location à la page 0,0800€. Cette information est donnée uniquement à titre indicatif conformément à la législation en vigueur.

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Praise for Bank 4.0
From Bank 2.0 to 4.0, Brett has not only been tremendously accurate in predicting where the ball is going in the future of money, but, more importantly, he s been actively shaping how it will get there. Here s a tip: don t bet against him.
- Alex Sion Co-founder of Moven and General Manager, Mobile Channel, JP Morgan Chase
Brett King has done it again with his latest volume. Bank 4.0 pushes us to deconstruct the mouse trap we call a bank, wipe the digital slate clean, and re-imagine banking for the year 2050 by focusing on first principles and customer needs. Drawing on examples from the developing world, King paints a compelling vision for how digitally-native banking can be a winning strategy-and an inclusive one.
- Jennifer Tescher President CEO, the Center for Financial Services Innovation
In Bank 4.0 , Brett does it again and moves our thinking along in financial services from rethinking the bank model as discussed in his previous books to pointing to how to build the new model using first principles thinking. It s another ground-breaking book and brings together not only his own thoughts, but the thinking of many of us who are trying to create the next generation of finance using technology, or FinTech if you prefer. Anyone involved in finance, technology, money and banking who doesn t pick up this book is missing the key to their future and, as a result, might not have one.
- Chris Skinner Bestselling Author of Digital Human and Chairman of The Financial Services Club
Brett s best yet! While one may not agree with all his assertions, the fundamental insights-that banking needs to be reimagined from first principles, that it must be embedded into daily lives, that data, AI and voice are game changers in this regard-cannot be argued against. Bank 4.0 is a tour de force that opens your eyes to what already exists, and your mind to the imminent possibilities. A must read.
- Piyush Gupta Group Chief Executive Officer, DBS Bank
As the banking industry continues to disrupt at an ever-accelerating pace, this unputdownable book paints a future that is both exciting and inspiring. This is Brett, the King of futurism, at his compelling best! Speaking as a banker, you must read Bank 4.0.
- Suvo Sakar Senior EVP and Group Head of Retail Banking and Wealth Management, Emirates NBD
Banking is being disrupted on a global basis and Brett s book helps to navigate through these rapid transformations. A must read in the new era of banking.
- Valentin Stalf CEO and co-founder of N26
Yet again, Brett King brings together some of the most knowledgeable and experienced figures in global FinTech for this authoritative guide to the very latest mega trends.
- Anne Boden CEO and founder, Starling Bank
I don t think anyone else on the planet has Brett s ability to piece together what is happening around the globe and forecast the future of banking. A thoroughly researched, data-driven analysis from someone who has walked the walk .
- Anthony Thompson Founder former chairman Atom Bank and Metro Bank, co-author of No Small Change
Two years ago on stage in Beirut, I called Brett King the King of Ban- King and I stand by every word. This book continues his canon on the subject of where banking is going next. Everybody in a FinTech company should read it, everybody in traditional banking HAS to read it or they will be without a business in five years.
- Monty Munford Founder of Mob76, SXSW emcee and Public Speaker, writing for The Economist , BBC, Forbes and Fast Company
The organizations we develop partnerships with know that our customers are in the driver s seat. We re innovating for them and that s non-negotiable. Brett King and Moven understood that from day one, and Bank 4.0 is his manifesto.
- Rizwan Khalfan EVP, Chief Digital and Payments Officer, TD Bank Group
BANK 4.0

2018 Brett King
All content information in this book is correct at press time. Care has been taken to trace the ownership of any copyright material contained in the book. Photographs are used with permission and credit given to the photographer or copyright holder.
Published by Marshall Cavendish Business
An imprint of Marshall Cavendish International

All rights reserved
No part of this publication may be reproduced, stored in a retrieval system or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the copyright owner. Requests for permission should be addressed to the Publisher, Marshall Cavendish International (Asia) Private Limited, 1 New Industrial Road, Singapore 536196. Tel: (65) 6213 9300. E-mail: genrefsales@sg.marshallcavendish.com . Website: www.marshallcavendish.com/genref
The publisher makes no representation or warranties with respect to the contents of this book, and specifically disclaims any implied warranties or merchantability or fitness for any particular purpose, and shall in no event be liable for any loss of profit or any other commercial damage, including but not limited to special, incidental, consequential, or other damages.
Other Marshall Cavendish Offices
Marshall Cavendish Corporation. 99 White Plains Road, Tarrytown NY 10591-9001, USA Marshall Cavendish International (Thailand) Co Ltd. 253 Asoke, 12th Flr, Sukhumvit 21 Road, Klongtoey Nua, Wattana, Bangkok 10110, Thailand Marshall Cavendish (Malaysia) Sdn Bhd, Times Subang, Lot 46, Subang Hi-Tech Industrial Park, Batu Tiga, 40000 Shah Alam, Selangor Darul Ehsan, Malaysia
Marshall Cavendish is a registered trademark of Times Publishing Limited
National Library Board, Singapore Cataloguing-in-Publication Data
Names: King, Brett, 1968-
Title: Bank 4.0 : banking everywhere, never at a bank / Brett King.
Description: Singapore : Marshall Cavendish Business, [2018]
Identifiers: OCN 1042194265 | e-ISBN: 978 981 4828 38 3
Subjects: LCSH: Banks and banking-Customer services. | Financial services industry-Technological innovations.
Classification: DDC 332.17-dc23
Cover art by Kylie Eva Maxwell
Printed in Singapore
To Katie, with whom I am quantum entangled, and my Dad, whose energy and role model allowed me the freedom to go well beyond my limitations .
Contents
Preface
Acknowledgements
PART ONE: Bank 2050
Chapter 1: Getting Back to First Principles
First principles design thinking
Applying first principles to banking
A bank that is always with you
Is it too late for the banks?
Feature: Ant Financial-The First Financial Firm for the Digital Age by Chris Skinner
The Alibaba stories
Ant Financial: Building a better China
Chapter 2: The Regulator s Dilemma by Brett King and Jo Ann Barefoot
The risk of regulation that inhibits innovation
A flawed approach to financial crime and KYC
The future form and function of regulation
Elements of reform
Feature: How Technology Reframes Identity by David Birch
PART TWO: Banking re-imagined for a real-time world
Chapter 3: Embedded Banking
Friction isn t valuable in the new world
New experiences don t start in the branch
Advice, when and where you need it
Mixed reality and its impact on banking
Feature: Contextual Engagement and Money Moments by Duena Blomstrom
Are banking chatbots the future?
Chapter 4: From Products and Channels to Experiences
The new network and distribution paradigms
Bye-bye products, hello experiences
The Bank 4.0 organisation chart looks very different
Onboarding and relationship selling in the new world
Feature: Future Vision: Your Personal Voice-Based AI Banker by Brian Roemmele
Chapter 5: DLT, Blockchain, Alt-Currencies and Distributed Ecosystems
Emerging digital currencies
Bitcoin and cryptocurrencies on a surge
The structural implications of DLT
PART THREE: Why FinTech companies are proving banks aren t necessary
Chapter 6: FinTech and TechFin: Friend or Foe?
For me? Two servers
Where the new players are dominating
Partner, acquire or mimic?
Killing FinTech partnerships-the barriers to cooperation
If you can t beat them, join them
Feature: Why Banks Should Care About FinTech by Spiros Margaris
Feature: The Speed Advantage by Michael Jordan
Chapter 7: The Role of AI in Banking
Deep learning: How computers mimic the human brain
Robo-advisors, robo-everything
A bank account that is smarter than your bank
Where automation will strike first
Redefining the role of humans in banking
Chapter 8: The Universal Experience
The expectations of the Post-Millennial consumer
The new brokers and intermediaries
Ubiquitous banking
Feature: Going Beyond Digital Banking by Jim Marous
Going beyond digital banking basics
Amazon model provides a guide for banking
Feature: Digitise to Lead: Transforming Emirates NBD by Suvo Sarkar
PART FOUR: Which banks survive, which don t
Chapter 9: Adapt or Die
Key survival techniques
Survival starts at the top
Chapter 10: Conclusion: The Roadmap to Bank 4.0
Technology first, banking second
Experience not products
The Bank 4.0 roadmap
Conclusion
Glossary
About Brett King
Preface
Bank 2.0 was written in 2009 when mobile had just started to become a significant part of retail banking, and just after the internet had surpassed all other banking channels for day-to-day access. Bitcoin had just launched. Betterment, Simple and Moven were yet to be announced, in fact, FinTech overall was not yet even a term for most of us. Bank 2.0 was a simple exploration of the fact that customer behaviour was rapidly evolving as a result of technology, and this was creating an imperative for change within banking which was undeniable.
By 2012 mobile was the next big thing. It was on track to surpass internet, and there was no longer an argument about whether or not banks should have a mobile application. The importance of day-to-day use of technology to access banking was clear, but most banks were still in the evolutionary mode, where mobile was c