Bank 2.0

A STAGGERING 90 per cent of daily transactions are executed electronically today. Institutions that hold on to the belief that physical branches remain at the core of what the brand does, will not adapt easily to the customer of tomorrow who rarely visits a branch or the customer who sees no need for an over-the-counter transaction with cash or cheques. Those who still classify the Internet, ATM and iPhone applications as “alternative” channels will be playing catch up for the next decade, while intermediaries will increasingly capture niche service opportunities. This is where BANK 2.0 starts.This book is not for traditional bankers who want to stick to the status quo. This book is designed for managers of change who need to argue change vigorously within the institution and show the hard facts that make such change inevitable. But there is an upside. That is, BANK 2.0 will show bankers that such changes, although inevitable, will bring reduction in costs, longer-term and more profi table customer relationships, and will improve the effectiveness of the organisation structure. It just may be extremely painful for those who don’t get the future, despite all the benefi ts.