Banking 4 Tomorrow

The perfect storm to bring an end to cash

bank2book — Thu, 11 Nov 2010 14:28:56 +0000

I’ve been at the E-Money, Cards and Payments conference in Moscow today. Coming off the back of SIBOS it is quite interesting to have a discussion not just about payments, but around modality and the emergence of strong mobile payments methodologies and practices. We already know that checks/cheques are in terminal decline, but when you [...]

If you think Social Media is about ROI, you’ll be disappointed

bank2book — Mon, 08 Nov 2010 19:55:11 +0000

Thankfully, I think we are almost at the point of having serious conversations about how social media can be utilized in most organizations, rather than still asking the question “Is Social Media just a fad?”. However, there are some massive misconceptions on what social media will do for the organization. As a result, often [...]

Will Facebook kill the US Dollar?

bank2book — Thu, 04 Nov 2010 21:38:14 +0000

According to current statistics, Facebook has more than 500 million ACTIVE users, 50% of whom use Facebook everyday, 200 million of these users interact via mobile daily, and around half of the Top sites in the world are integrated with Facebook. PayPal recently announced integration of micropayments into Facebook’s platform. Facebook also announced that you will [...]

The Prototype Bank

bank2book — Wed, 03 Nov 2010 21:44:20 +0000

Getting to the bank of tomorrow seems daunting. For banks that are entrenched in physical elements such as branch distribution networks, long-held conventions around paper-led compliance procedures, embedded silos and P&L (that are more likely to collapse completely than change) – how can a change to a better bank be navigated? How are you going to issue credit cards when there is no plastic? What will checking accounts be called when you don’t issue check books anymore? The challenges facing the banking sector today are extreme…

The Rapid Disintermediation of Retail Bankers

bank2book — Wed, 27 Oct 2010 10:11:01 +0000

The concept that banking is necessary, but banks are not has often been debated. The question of whether technology advances and new business model results in disintermediation is often dismissed as hype. While the Internet is undoubtedly the most significant technological advanced of the modern age, most retail bankers would argue that this only produced [...]

SIBOS – Confusion reigns…

bank2book — Tue, 26 Oct 2010 10:44:41 +0000

If I was to identify one dominant response from bankers at SIBOS this week it is confusion. Not confusion over the event, where to find sessions, or what they are doing here, but confusion over where the banking sector goes next. The fact is, after time immemorial where banking has essentially remained the same, bankers are [...]

What innovations will rock our world in the next 25 years? #Innotribe #SIBOS

bank2book — Sat, 23 Oct 2010 09:46:08 +0000

As preparation for my SIBOS Long Now Innotribe sessions next week I’ve been talking to lots of geeks, thought leaders, bloggers and innovators about what comes next. This is by no means an extensive list, but here are a few of the disruptive innovations that are coming our way in the next couple of decades [...]

Banks and Credit Card Issuers beware – Apple just stole your business

bank2book — Sun, 17 Oct 2010 12:00:23 +0000

If you are a bank, you now have about 9 months to get ready for total disintermediation in the payments space from Apple, Google, Microsoft and a bunch of handset manufacturers. If you think your credit card business is under threat from debit cards today, you're in for a shock. The plastic is no longer a barrier to entry. You just became an antique...