Bank 3.0 - Why Banking is No Longer Somewhere You Go, But Something You Do

by Brett King

The first edition of BANK 2.0 took the financial services world by storm and became synonymous with disruptive customer behaviour, technology shift and new banking models. In BANK 3.0, Brett King looks at the latest trends that are redefining financial services and payments. From the global scramble for dominance of the mobile wallet, the expectations created by tablet computing, the operationalizing of the cloud and the explosion of social media he explores:
li>How Social Media has exposed pricing, over-regulation, outdated processes and poor policy,
How mobile technology is completely changing the context of banking,
How customer advocacy is killing traditional brand marketing,
The growth of the ‘de-banked’ consumer who doesn’t need a bank at all; and
Why Banking is no longer a place you go, but something you do
BANK 3.0 shows that the gap between customer and financial services players is rapidly growing, leaving massive opportunities for new, non-bank competitors to totally disrupt the industry.

Genres: Business, Nonfiction, Finance, Banking, Economics, Technology, Money

399 pages, Hardcover

First published October 1, 2012

About the author

Librarian Note: There is more than one author by this name in the Goodreads database.

Reviews

[Jobin Thomas · Rating 1 out of 5]

The book basically says this - "People are doing all transactions online and through cards. Hence it does not make sense to have physical branches."

This is a very long (360 pages) and a boring read. I thought I could learn something new about FinTech - but, I was wrong.

I won't recommend this book.

[Amy · Rating 2 out of 5]

I read this with my team at work. Given that we work in the banking industry, it was interesting to think through the future of banking and how we, in our day to day work, can help shape the future of the bank we support. But, it's not a very enjoyable read although it's not difficult. A lot of the stats are used over and over which became a bit monotonous. But, all in all, it was OK. Worth a read if you're passionate about banking or if you are particularly interested in how banks are changing.

[Cigno · Rating 3 out of 5]

The first 2/3rds of the book were fascinating for someone such as myself who is in the banking industry. The last third of the book became very redundant. But overall, very informative and a good read for bankers.

[Lea Bech-Sjøthun · Rating 3 out of 5]

Well, definitely some great ideas... but after 2.0 this somehow felt a bit like iPhone5. It's 2.0 with a few new chapters...

[Eric · Rating 5 out of 5]

Pas toujours une lecture de chevet mais tout de même très inspirante. Nous retenons ici que la source de la vraie valeur pour la banque est l'intelligence client en temps réel pour offrir un service vraiment personnalisé "one to one".

Les changements à venir sont susceptibles d'être plus soudains que les changements passés. Et pour y parvenir, il faut des innovateurs et des créateurs !

[Sérgio Viana · Rating 3 out of 5]

Probably a very good book when it was published, but obsolete when I read it on 2018.

[Edwin Setiadi · Rating 4 out of 5]

The future of banking

According to the author, Brett King, there are 4 phases of behavioural disruption in banking: 1. The arrival of the internet 2. The emergence of smart device or app phone 3. Our switch to mobile payment on a broad scale (which is where we currently are) 4. Banking no longer being somewhere we go, but something we just do.

Published in 2013, this book is largely about the road to the 4th disruption. It shows an exciting glimpse of what the future may look like and how banks will play their role in it. It is a world where “someone else owns the customer, [while] banks become the manufacturers, networks and processes that support the utility of banking.”

The book ultimately takes us through the evolution of banking, which are illustrated by abundance of data and statistics to provide us with the contextual trend, where now by the time I read it in 2021 I can see how plenty of the predictions by King have already happening.

An essential read for bankers or those who are interested to learn about the banking industry.

[Thắng Nguyễn tuấn · Rating 5 out of 5]

Thật sự ấn tượng với tác giả Brett King với những dự đoán chính xác của ông trong cuốn sách Bank 3.0 Why Banking is No Longer Somewhere You Go, But Something You Do.ngay từ năm 2012 về tương lai của thanh toán di động và phương thức ngân hàng tương tác với khách hàng. Cuốn sách không chỉ hữu ích đối với những người làm trong ngành ngân hàng mà còn cung cấp những góc nhìn mang tính định hướng đối với những nhà đầu tư có ý định đầu tư lâu dài vào ngành ngân hàng. Cuộc chơi của ngành tài chính bán lẻ đã hoàn toàn thay đổi cùng với thế hệ Gen Y và điện thoại thông minh và tốc độ thay đổi ngày càng nhanh. Do đó một ngân hàng muốn tồn tại và tiếp tục phát triển bền vững cần tầm nhìn của người lãnh đạo đúng như tên gọi của cuốn sách biến dịch vụ ngân hàng thành một hoạt động thiết yếu hàng ngày của người tiêu dùng chứ không chỉ đơn thuần là một điểm đến.

[Filipa · Rating 4 out of 5]

Brett King has written a thought-provoking book about the future of banking, which explores the impact new technologies have on our everyday life but also how these new technologies affect the daily banking operations we all engage in.
He has painted a very clear picture of what's in store for this industry but that was not all. He talks about customer behaviour, customer expectations and how brands should interact with customers in new emergent channels of communication.
His writing is clean, direct and assertive and that made this book enjoyable as well as educative. I'm glad he has already published the next installment of the series because I'm definitely curious to read about what he believes is the next step for the banking industry and for experience economy in general.

[Joseph · Rating 4 out of 5]

I've worked in banking for the past 36 years, and never have I seen as much change occur in as short a time as in the past several years. The US banking industry has admittedly lagged behind the rest of the world in adopting innovative technology (this book was written in 2013) but I don't see how the industry can continue to ignore the reality of how younger consumers want their financial services delivered.

[Daniel Wagner · Rating 4 out of 5]

This book had a lot of good information that is still relevant at the time I am reading it. The main downside for me was the repetition, and explanation of technology that we probably didn't need all of the details for.

[Асет Нурпеисов · Rating 4 out of 5]

Книга рассказывает о том, как банку стать современным для работы с физическими лицами. К сожалению про работу с юридическими лицами затронуто совсем мало. Одна из немногих книг по финтеху, но слишком много теоретизирования и мало практики.

[Ezequiel Fanelli · Rating 4 out of 5]

Excelente lectura

Escrito en 2012 tiene una vigencia impresionante.
Buenos conceptos para repensar la transformación digital que está inmersa la industria financiera.
Excelentes frases para replantearse paradigmas.
Recomendado. Voy ahora por el Bank 4.0.-

[Amanda · Rating 5 out of 5]

Well written book on how the channels of retail banking is changing rapidly via smart phone. It’s amazing how developing countries like Kenya can grow and innovate using a mobile payment system. Looking forward to completing Bank 4.0.

[Manish Gupta · Rating 4 out of 5]

Informative. A bit long and repetitive though.

[Saber Khosravi · Rating 5 out of 5]

All bankers and fintech activists should read this book

[Xepec · Rating 2 out of 5]

Сборник банальностей.

[Liutauras · Rating 3 out of 5]

Just same same

[Louis · Rating 4 out of 5]

Brilliant For Bankers and Customers Alike

[Thanh Mai]

vietnamese audiobook https://thuviensachnoihuongduong.com/...

[Lana · Rating 4 out of 5]

This book elucidates the future of banking, centred around the new, hyper-connected, immersed in social media breed of consumer. As smartphones and tablets become more pervasive, consumer behaviour is changing rapidly, including the way we bank. Whilst most industries are embracing this digital revolution with open arms, the banking sector seems to be trailing behind.

The author offers a glimpse into what banking may look like in the not so distant future, as we move towards a cashless world, and provides advice on how to think strategically and structure the organisation in a way that will meet these demands.

Contextual marketing, social media and mobile banking are some of the recurring themes throughout the book. Being published in 2012, it’s a testament to the fast-changing, technology-driven landscape, as we seem to be a step closer to realising the author’s vision today.

It’s definitely an interesting read for anyone in the banking industry, but preeminently for the traditionalist bankers, set in their ways.

[Lana · Rating 4 out of 5]

This book elucidates the future of banking, centred around the new, hyper-connected, immersed in social media breed of consumer. As smartphones and tablets become more pervasive, consumer behaviour is changing rapidly, including the way we bank. Whilst most industries are embracing this digital revolution with open arms, the banking sector seems to be trailing behind.

The author offers a glimpse into what banking may look like in the not so distant future, as we move towards a cashless world, and provides advice on how to think strategically and structure the organisation in a way that will meet these demands.

Contextual marketing, social media and mobile banking are some of the recurring themes throughout the book. Being published in 2012, it’s a testament to the fast-changing, technology-driven landscape, as we seem to be a step closer to realising the author’s vision today.

It’s definitely an interesting read for anyone in the banking industry, but preeminently for the traditionalist bankers, set in their ways.

[Neyaz · Rating 4 out of 5]

This is quite an interesting book reflecting the way banks should change and move to deal with the ever changing and increasingly demanding customers of today and the near future.

Although some of the points seems too good to be true, it is nonetheless just a glimpse on how the future of banking might possibly look like. With the advent of smart devices and internet, the world has become a global village, opening doors and creating opportunities for people everywhere. People's view of the world is changing, their view of life is changing, their thinking processes, expectations and demands are all changing. And so the financial institutes can't remain adamant with their present processes of doing business. This book serves as a guideline on which direction banks need to go and how they need to change.

[Waithera · Rating 5 out of 5]

If you love FinTech, this is DEFINITELY a book you would enjoy. Brett manages to communicate seamlessly on usability and overall user experience of products and being a big advocate of these aspects, I took great interest in particular sections of the book. Overall an informative read.

[R L · Rating 4 out of 5]

Just like a compiled case studies about the innovation and the tech growth in financial services Industry. The index were well-coordinated. The examples were updated yet still couldn't provide the possible advancement of the tech features in the industry. Just showing what's currently happening in the industry right now. You can catch it all up just by reading articles about fintech daily.

But this book is still essential for people that want to grasp the idea on what's happening near the future of financial services with in-depth business cases like the idea and implementation of P2P System and POS.

[Jari Pirhonen · Rating 4 out of 5]

This book explains why traditional branch-based banking strategy doesn't work anymore. Even though banks are present online, many still have old-fashioned thinking. Customer behavior is changing rapidly because of new technology. Banks need to change as well - or become insignificant. There are many hungry startups creating innovative solutions to replace banks' offering. Message of the book is that banking is essential, banks are not. Banking is at the high risk of disruption.

[Serri · Rating 3 out of 5]

Interesting insight into the future of the banking industry. A nice follow up to Banking 2.0 but contained mostly similar concepts. If you've read Banking 2.0, might want to wait for Banking 4.0 (if they end up updating it again) before reading this.

[Judy Williams]

I'm not rating this book because I didn't finish it. About once every two years I tell myself I should read a business book, and I try. And I fail. This is a good book, I just can't finish it. I'm sure I'll forget this lesson again in about two years.

[Vincent Lam · Rating 3 out of 5]

Good thinking but a bit aged

Just as the author said, the pace technology is advancing is becoming faster and faster. While the thinking in this book is good, the information presented is a bit outdated now. It urgently needs an update.

[Farid Samadov · Rating 3 out of 5]

All of us we face aspects shown in the book ad hoc, with more increasing features daily. What does this book a good one - it gives a holistic, systematic, aggregated view on these ad-hoc, decentralized aspects of future banking perspectives.