Brett King > Quotes

“The banking industry has always been about relationships. Social media is about relationships. The two go hand-in-hand. —Frank Eliason, Director of Global Social Media, Citi Group”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“Banking is no longer somewhere you go, it’s something you do.”
― Brett King, Bank 3.0: Why banking is no longer somewhere you go, but something you do

“The way PayPal started was that it was a security and risk company that stumbled onto payments, which were really in need of development as the Internet was starting to grow. It was to find safe ways of facilitating payments between people who were buyers and sellers who couldn’t interact in person or were interacting online. What you had at the time, as the Internet boom started, was all these businesses that were forming and selling online, and they didn’t have any physical assets—they only had digital assets. If you had a small business that had just started a website, looking to sell something on eBay, for example, and you went to the bank and said, “Could you underwrite me, and allow me to accept electronic payments?,” there was simply no way that these financial institutions”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“My six-year-old son Thomas won’t need a driver’s licence to own a car and it’s highly likely he won’t even own a car; he’ll simply rent car “time” instead. Throughout his entire life, he will never be without a smart device which will soon tell him when to go to the doctor for advice (and his insurer will require him to wear it), he’ll live in a smart house where robots clean and fridges or a household AI order groceries (delivered by a robot), he’ll never use a plastic card or chequebook to pay for anything (and likely no cash either) and he’ll interact with hundreds of computers every day that won’t have a mouse or keyboard. Thomas is part of the so-called Generation Z which is growing up in a world so dramatically different from the world that their grandparents were born into that if you had predicted these changes 100 years ago, it would have simply been called science fiction.”
― Brett King, Augmented: Life in The Smart Lane

“If the institution were to step back from the day-to-day operations and actually look at how a customer interacts with them, they’d realise that from a product, process and channel perspective, the customer is totally agnostic. They just want to get their banking task done...”
― Brett King, Bank 3.0: Why banking is no longer somewhere you go, but something you do

“where the user just exits the taxi without having”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“ATMs in 2016? (Source: ATMMarketplace.com)”
― Brett King, Bank 3.0: Why banking is no longer somewhere you go, but something you do

“We live in a hyperconnected world.”
― Brett King, Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do

“That led through feasibility to successful pilot, to this gigantic system that you see now, which is utterly stunning. The way it works is this: When you get a phone that has M-Pesa, you basically have an extra menu in your phone, which says, “Send money.” If I wanted to send you some money, I would choose the menu on my phone which says, “Brett”; I put in the amount of money I want to send; I put in a PIN; I hit “okay”; and then you get a message on your phone. It looks like I’ve texted the money to you, but that’s not quite what’s happening under the hood. The text message is going to a central server, which moves the money from one pot to another pot within the M-Pesa central account, and then it sends you a text message. But, to the customer, it looks like the money’s gone from one phone to another by text.”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“The key skill sets in this new world will belong to the data scientists who understand when, why, and how customers use bank products, and the storytellers who can place the product or service in the customer’s life when and where they need it. Not those who attempt to pull me into a branch so I can jump through the risk hoops to prove I am worthy of a product.”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“The new bank account is being defined by a different set of rules. Low friction, engaged customer base, differentiated distribution (no branches), and strong digital (mobile and web) support are all the rage, but at the core is a new approach to the basic day-to-day bank account.”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“Now for the other—more controversial—reason why robots need emotions; so they won’t kill us all. This”
― Brett King, Augmented: Life in the Smart Lane

“The future of the payment is not in the payment itself or the payment mechanism, but in what the payment does for the customer and the merchant contextually. First, we’ve been through a cycle in”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking

“Right now, we track about 60 different efforts around the world to develop improved batteries and some of them hold some long-term promise. We rate all of them from one to five, where five is we should be doing business with them and one is complete BS.” Elon Musk, CEO of Tesla, Tech Insider, 10th”
― Brett King, Augmented: Life in the Smart Lane

“I have read thousands of pages of robot uprising stories, and think our chances of getting through the next few hundred years intact are slim, and that the sooner we start treating robots with respect, the better.”
― Brett King, Augmented: Life in the Smart Lane

“To put that in perspective, between 1838, when the oldest known photograph was taken, and the year 2000 some 85 billion photos were taken, but we generate the same number of photos every 90 days or less today.2”
― Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking