Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services [Hardcover]

Brett King (Author)

Book Description

Publication Date: July 15, 2010

The financial crisis is just beginning for retail institutions. Ninety to ninety-five per cent of bank transactions are executed electronically today. The Internet, ATMs, call centres and smartphones have become mainstream for customers. But banks still classify these as alternative channels and maintain an organisation structure where Branch dominates thinking. Continued technology innovations, Web 2.0, social networking, app phones and mobility are also stretching traditional banking models to the limit. BANK 2.0 reveals why customer behaviour is so rapidly changing, how branches will evolve, why cheques are disappearing, and why your mobile phone will replace your wallet all within the next 10 years.

Editorial Reviews

Review

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

Bank2.0 is exactly the kind of book finance and banking consultants need always sitting on their desks. There is a complete dearth of incisive research, factual data and engaging case studies that document the trends shaping the future of banking in Asia today and Bank 2.0 does an excellent job of plugging that gap. For people suffering a mental block about what the next steps in banking could be, this book offers fresh insights, for those wanting to know the pulse of the industry, this is it and for others like me who are deeply interested in the future of banking this serves as a bible. Another interesting feature is its strong Asia-centric focus with interesting case studies about iconic names such as HSBC and major lenders from mature Asian markets such as Australia, Japan and Hong Kong. I really hope Brett updates this version soon enough to take this definitive guide on banks future to the next level. Very informative and reads like a breeze. --Arush Chopra, Research Analyst, The Asian Banker, Singapore

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

Bank2.0 is exactly the kind of book finance and banking consultants need always sitting on their desks. There is a complete dearth of incisive research, factual data and engaging case studies that document the trends shaping the future of banking in Asia today and Bank 2.0 does an excellent job of plugging that gap. For people suffering a mental block about what the next steps in banking could be, this book offers fresh insights, for those wanting to know the pulse of the industry, this is it and for others like me who are deeply interested in the future of banking this serves as a bible. Another interesting feature is its strong Asia-centric focus with interesting case studies about iconic names such as HSBC and major lenders from mature Asian markets such as Australia, Japan and Hong Kong. I really hope Brett updates this version soon enough to take this definitive guide on banks future to the next level. Very informative and reads like a breeze. --Arush Chopra, Research Analyst, The Asian Banker, Singapore

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

Bank2.0 is exactly the kind of book finance and banking consultants need always sitting on their desks. There is a complete dearth of incisive research, factual data and engaging case studies that document the trends shaping the future of banking in Asia today and Bank 2.0 does an excellent job of plugging that gap. For people suffering a mental block about what the next steps in banking could be, this book offers fresh insights, for those wanting to know the pulse of the industry, this is it and for others like me who are deeply interested in the future of banking this serves as a bible. Another interesting feature is its strong Asia-centric focus with interesting case studies about iconic names such as HSBC and major lenders from mature Asian markets such as Australia, Japan and Hong Kong. I really hope Brett updates this version soon enough to take this definitive guide on banks future to the next level. Very informative and reads like a breeze. --Arush Chopra, Research Analyst, The Asian Banker, Singapore

About the Author

Brett King is an accomplished professional speaker, an advisor to top financial institutions globally, and 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.

Product Details

• Hardcover: 400 pages
• Publisher: Marshall Cavendish Reference (July 15, 2010)
• Language: English
• ISBN-10: 9814302074
• ISBN-13: 978-9814302074
• Product Dimensions: 9.4 x 6.4 x 1.2 inches
• Shipping Weight: 1.4 pounds (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (13 customer reviews)
• Amazon Best Sellers Rank: #69,806 in Books (See Top 100 in Books)
  • #78 in Books > Business & Investing > Industries & Professions > Banks & Banking
  • #82 in Books > Business & Investing > Industries & Professions > Customer Service

More About the Author

Brett King is the bestselling author of BANK 2.0 and the founder of Movenbank - a new direct mobile banking proposition in the US and UK. BANK 2.0 has received widespread industry acclaim and has been a #1 bestseller in the UK, USA, Germany, Japan and throughout Asia.

King is a renowned public speaker, industry commentator and advisor to leading financial institutions globally. He has recently been featured as an industry expert on CNBC, Bloomberg, Financial Times, Economist, ABA Journal, Bank Technology News, The Asian Banker Journal, The Banker magazine, and many more. You can follow his thoughts on his blog www.banking4tomorrow.com or Huffington Post.

He recently gave the closing keynote at the largest financial services conference in the world, SIBOS, but he has presented at conferences in more than 30 countries for organizations like Google, Forbes, Oracle, The Economist, SAS, SWIFT, the American Bankers Association, Bloomberg, The Asian Banker, IIR, Marcus Evans, DTT Fast 500, HSBC, and others. He currently is an international judge for The Asian Banker Retail Banking Excellence Awards, the GSMA Global Mobile Awards, the Middle East Business Achievement Awards and the Middle-East Retail Banking Awards.

Customer Reviews

Most Helpful Customer Reviews

11 of 12 people found the following review helpful:

5.0 out of 5 stars If you're in the financial services industry, you need to read this book., August 5, 2010

By 

B. Leimer "Bradley Leimer" (Berkeley, CA United States) - See all my reviews
(REAL NAME)   

Amazon Verified Purchase

This review is from: Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services (Hardcover)

My first impression of Brett King's book is that it speaks my language. As advertised, this is truly "not a book for bankers that want to maintain the status quo." Brett dives into his topics with enthusiasm and talks very directly about how customer behavior and technology, always disruptive forces, are dramatically changing the financial services industry. The book covers everything from measurement of customer/client/member expectations and experience, and offers very good insight on how to improve service levels through the very disruptive forces that often befuddle this industry (e.g. new technologies like social media, mobile payments, OFM). He dedicates entire chapters to topics like the call center, brick and mortar branching, CRM, and VRU systems to manage customer interactions. Who else writes about VRU systems in banking and the impact on the customer experience? He offers sage advice on the state of web development in meeting customer needs (lacking in many industries quite frankly) and other self-service channels like ATMs and online/remote banking. He does a good job of providing some context for technology changes, and how recent innovation will impact banking over the next decade. If you are in financial services industry and are interested in where banking is heading, you'll be well served by picking this book up and being part of ongoing trends that will be impact our industry. With technology changing every day, join the conversation at [...] and the author's Bank 2.0 blog at [...]. Last tip: Be prepared for the next decade in banking by setting your road map today. Pick this up before your Chairman or CEO does!

4 of 5 people found the following review helpful:

5.0 out of 5 stars Still ahead of its time, December 2, 2010

By 

Kirstin E. Myers (Gloucester, MA, USA) - See all my reviews
(REAL NAME)   

This review is from: Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services (Hardcover)

Full disclosure: Brett King is my client but that is because I only work with individuals and organizations that inspire me and are truly changing the world. Brett has been a banking expert and consultant for years and he is a friend of the industry, albeit one that tells his friends what they need to hear, rather than what they want to hear. A couple of years back when Brett decided to step away from his consulting and day to day responsibilities in order to do some primary research on the present and future of banking. Brett asked some fundamental questions to banking customers about their experience and how to improve it. He was startled by the answers he received, and a clear trend emerged showing an ever-widening gap between banks and their clients. This disconnect continues and is driven by technology advances and the refusal of the banks to stay with the curve, much less ahead of it. Bank 2.0 is very easy to read for laypeople and banks alike and though it may seem obvious to the reader, one is left scratching their head, thinking "why do the banks still not get it?" Perhaps because the banking executives are too busy trying to protect their bonuses and their positions to have time to read the book? I highly recommend this book to anyone interested in being part of the debate on the Future of our financial system, both in the US and globally.

1 of 1 people found the following review helpful:

5.0 out of 5 stars Forward Thinking That We Can Apply Now, February 4, 2011

By 

Bryan E. Clagett "Bryan Clagett, CMO Geezeo" (Jamestown, VA United States) - See all my reviews

This review is from: Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services (Hardcover)

Brett provides a strong case for how the retail banking industry must evolve to adapt to ever-changing consumer preference. Technology and disruptive innovation shapes consumer attitudes and clearly offers the banking industry remarkable opportunity to engage in ways never before possible. A revolution is occurring, and it's time to lead, follow or get out of the way. King is leading.