Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Will the "Bank" Disappear?


Published on

Brett King, Founder/CEO, Moven, USA

Published in: Economy & Finance, Business
  • Be the first to comment

Will the "Bank" Disappear?

  1. 1. BБанкankWill the “Bank” Disappear?The emergence of smarter, faster banking and the death of advice in the branch Innovator of the Year 2012@brettkingbrettkingauthor
  2. 2. This is still what most bankers think is great service
  3. 3. This is how customers measure great service today
  4. 4. this is the touch and feel or the brick and mortar generation
  5. 5. This is how banks think they need to talk to customers
  6. 6. So... bankers are trying to create better places to talk
  7. 7. But this is how consumers talk to each other everyday
  8. 8. We now generate 5 Exabytes of content every three days
  9. 9. In 2007 we uploaded 7 hours of video every minute
  10. 10. Today we upload more than 300 hours of video every minute
  11. 11. is the world’s second most popular search engine
  12. 12. 1 billion views, 3m views per week
  13. 13. this is the see and hear generation
  14. 14. Their instinct is not to visit a branch...
  15. 15. 80% of Y-Gens have bought a brand based on a friend’s recommendation
  16. 16. 66% of Y-Gens have visited a store/restaurant based on a friend’s ‘check-in’
  17. 17. 70% of YGensWill be Mobile Banking‘first’ by 201550% of ALL bank customers will use MobileBanking as their primary channel by 2016**source: Gartner
  18. 18. But you might need to help them understand theconnection between these two things
  19. 19. why you used this to message your friends
  20. 20. And why you had to rewind this beforeyou returned it to the store...
  21. 21. And why you used this stuff for banking!
  22. 22. 2016 digital interactions with banks willoutnumber branch interactions 350-to-1Mobile20-30 Times per monthATM3-5 Times per monthATM$Call Centre, IVR & Voice Response5-10 Times per yearWeb/Tablet “Screens”7-10 Times per monthBranch1-2 Times per year
  23. 23. Not internet banking on a smaller screen,or putting a plastic card in a wallet
  24. 24. Behavior will drive risk assessment... in real-time
  25. 25. The friction of old processes will be removed
  26. 26. Financial Services will become contextual...
  27. 27. CAN I AFFORD IT?WISH LISTFIND A BETTER DEAL?CAN I AFFORD IT?Shoes Price$ 565Spent on Clothes to date$ 373.42Available Cash$ 435.28 (low)You’ve Spent$ 591.33so far this month(Average $ 482)You’re in theREDSET A SAVINGS PLANPRADA SUEDEPLATFORM SHOE(Similar)ON SALE ATNEIMAN MARCUS$ 335PRADA SUEDELEATHER11cm Heel ShoeSAVINGS GOAL$ 565SAVE NOW $ 50US$ 621Special OfferUS$ 565
  28. 28. The best advice won’t be in a branch anymore
  29. 29. Banking is no longer a place you go,it’s just something you do@brettkingbrettkingauthor