BrightLearn - Bank 2.0 by Brett King

In "Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services," Brett King explores the profound transformation occurring in the banking industry, driven by evolving customer behavior and technological advancements. He argues that the traditional banking model, centered around physical branches and paper transactions, is rapidly becoming obsolete, as 90 percent of daily transactions are now electronic. King emphasizes that banks must adapt to the digital age, where customers prefer the convenience of online banking, ATMs, and mobile apps over in-person visits. The book highlights the growing dissatisfaction with high fees and poor service, amplified by social media, which is pushing customers to demand change. King predicts the phasing out of cheques and the rise of mobile banking as the dominant channel, while traditional media and marketing methods will give way to more personalized and direct digital interactions. He introduces the concept of the "Prosumer," a customer who both consumes and creates content, underscoring the importance of trust and engagement in the digital space. Ultimately, King contends that the future of banking lies in leveraging technology to build strong relationships and deliver a seamless, integrated customer experience across all platforms, with mobile payments poised to revolutionize transactions. Banks that embrace these changes will thrive, while those that resist will struggle to remain relevant.

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Find a copy of this amazing book here: https://www.amazon.com/Bank-2-0-Customer-Technology-Financial/dp/9814302074