A banks nightmare competitor is Google

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A banks nightmare competitor is Google

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A banks nightmare competitor is Google

  1. 1. A Banks nightmarecompetitor is Google<br />By Paul Brink, March 2011<br />
  2. 2. A Banks nightmare competitor is Google <br />Sounds weird? Let me explain…<br />
  3. 3. Companies can roughly be divided into two groups<br />Companies that move atoms<br />Companies that move bits<br />See: Being Digital, 1995 by Nicholas Negroponte<br />
  4. 4. 1. Companies that move atoms<br />Companies that move atoms are companies that produce or transport physical products<br />For example: Philips, Heineken, KLM<br />
  5. 5. 2. Companies that move bits<br />Companies that move bits (zeros and ones) are companies that produce or transport bits of information, in other words: produce or use software 1)<br />For example: Microsoft, Google, Amazon<br />1)Software is: zeros and ones that change zeros and ones into other zeros and ones<br />
  6. 6. Companies that move atoms and bits<br />Most companies are moving bits one way or the other, but not all companies move atoms<br />Nowadays a bank doesn’t move atoms anymore, they only move bits<br />The same goes for insurance companies<br />
  7. 7. Therefore a bank has become<br />a sort of software company<br />
  8. 8. Like…<br />
  9. 9.
  10. 10. But what makes a bank different from Google?<br />
  11. 11. Not their customers<br />Most customers of a bank are using Google,<br />most users of Google are customer of a bank<br />
  12. 12. No, their products makes them different<br />
  13. 13. What does Google do?<br />Google Inc. is a company investing in Internet search, cloud computing, and advertising technologies<br />Google hosts and develops a number of Internet-based services and products like: Google search, Docs, Gmail, Maps, Chrome, Books, Health, AdSense, etc. etc.<br />
  14. 14. What does a Bank do?<br />A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets<br />A bank connects customers with capital deficits to customers with capital surpluses<br />
  15. 15. But if Google can make a search engine covering the entire internet, can make an operating system for your desktop, an e-mail system serving millions of users…<br />Why can’t they make a banking application?<br />
  16. 16. Ultimately a banking application is much easier to make than an operating system or a platform that connects thousands of people<br />And…<br />
  17. 17. Google is offering most of these services for free!<br />So…<br />
  18. 18. If I were a bank managerI would be worried<br />
  19. 19. …be very worried!<br />
  20. 20. So dear bank manager have a good night sleep and think how your Bank is better then .<br />
  21. 21. …or Facebook!<br />
  22. 22. Don’t let Google become your nightmare competitor<br />
  23. 23. Sweet dreams!<br />
  24. 24. “...”<br />
  25. 25. “Maybe it’s...”<br />
  26. 26. “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”<br />Peter Drucker<br />
  27. 27. “Because the purpose of business is to create and keep a customer, the business enterprise has two, and only two, basic functions: marketing and innovation.”<br />“Marketing and innovation produce results;all the rest are costs.”<br />Peter Drucker<br />
  28. 28. The Hedgehog Concept: Three overlapping circles: What makes you money? What could you be best in the world at? and What lights your fire?<br />James C. Collins<br />The 4th of the seven characteristics of companies that went from good to great. From thebook “Good to Great: Why Some Companies Make the Leap... and Others Don't”, 2001<br />
  29. 29. Technology Accelerators: Using technology to accelerate growth, within the three circles of the hedgehog concept<br />James C. Collins<br />The 7th of the seven characteristics of companies that went from good to great. From thebook “Good to Great: Why Some Companies Make the Leap... and Others Don't”, 2001<br />
  30. 30. Paul Brink<br />Website http://paulbrinkfotografie.nl<br />LinkedIn http://www.linkedin.com/in/pauljohanbrink<br />Flickr http://www.flickr.com/photos/paul_brink/<br />
  31. 31. DisclaimerThis is my personal private opinion, not the opinion of the website managers, director or editors or the organization I work for. <br />My goal is to challenge my personal opinion to the opinion of others. “The many are smarter than the few.” So feel free to respond.<br />

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