Luigi Wewege

The Digital Banking Revolution (eBook, ePUB)

How financial technology companies are rapidly transforming the traditional retail banking industry through disruptive innovation.

• Format: ePub

Produktbeschreibung

Over the past decade financial service innovations have contributed to a completely new way in which customers can bank, threatening the status quo of traditional retail banks, and redefining a banking model which has been in place for generations. These new technological advancements have facilitated the rapid emergence of digital banking firms and FinTech companies, leading to established banks being forced to swiftly increase their pace of digital adoption to stay relevant and stop mass client attrition to these agile financial start-ups. These threats come at an inopportune time for banks due to mature markets currently experiencing stagnant growth. This coupled with decreasing profit margins due to the competitive pricing of new entrants, and financial customer loyalty becoming ever increasingly more tenuous.

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Produktdetails

• Verlag: Palmetto Global Ventures
• Seitenzahl: 144
• Erscheinungstermin: 16. Januar 2017
• Englisch
• ISBN-13: 9781483592510
• Artikelnr.: 47564306

Autorenporträt

Luigi Wewege is the President and CEO of Vivier Group a multinational financial group of companies, providing its services worldwide through representation in jurisdictions across Africa, Asia, Oceania, Europe and South America. The group of companies is comprised of: Vivier & Co, Vivier Capital, Vivier Developments, Vivier Investments, Vivier Ventures, and launching shortly Vivier Growth Fund. Outside of Vivier he serves as the Non-executive Chairman of Nikau Global an international trade and development firm, as Partner/Director of Palmetto Global Ventures a bespoke financial management consultancy firm headquartered in South Carolina, and is an invited member of Boston, Massachusetts based non-profit organization the Young Entrepreneur Council.

Inhaltsangabe

Introduction

1. Overview

The past provides lessons

Brief history of banking

Banking in the modern era

Select major international events in banking history

An imperfect system - Financial crises

The financial crisis of 2007-09

Financial innovation and complexity

Regulatory overhaul

A new potential role



2. Rapid transformation

The customer shift

Fintech overview

Fintech outlook

The financial disruptors

PayPal

Square

Amazon

Facebook

Google

Skrill

TransferWise

Alibaba

Bitcoin



3. The digital financial revolution

Specific changes which redefined a banking model

Loss of customer trust

Better service experience

The millennials have arrived

Mass adoption of smartphones

Regulation for the financial consumer

More efficient financial services

Economics 101 - supply and demand

An industry transformed



4. A new era of banking

The rise of digital banking firms

Banking on the go

Contactless cards

Check imaging technology

Could social media shape the industry?

The world of FinTech wearables

Notable financial innovators

Paym

Midata

Are bank branches disappearing?

Unlocking data for customers

From incremental change to total reinvention



5. Financial innovations from around the world

Global FinTech

Australia

Turkey

Iceland

New Zealand

Norway and Sweden

Asia region

Africa

The Republic of Ireland

Poland

United States



6. A digital blueprint for banks

Digital banking value?

Maximize use of existing technology

Apply minor technology interventions

Identified areas for sweeping transformation

Cross-Selling in the Digital Era

Human resources in the digital era

Optimizing structure and incentives

Emphasis on business outcomes

Devise a new strategy for staff



7. The future of banking

References

Rezensionen

"The Digital Banking Revolution captures the effects of disruption brought to the banking industry by emergent financial technology businesses. The author provides a fascinating examination of several companies who have recently developed new financial innovations and how they are demonstrably significant to the consumer."-Victor von Gierszewski, Managing Director, TNS Global

"The Digital Banking Revolution is an informative read focused on the transformational changes facing traditional retail banks worldwide. It covers insightful well-researched analysis on: big data, customer engagement, disruptive technologies, mobile payments, and the changing financial behaviours of consumers, in particular millennials."-Michael A. C. Hart, Chairman and CEO, TPS Capital

"The Digital Banking Revolution provides a unique take on the consumerization of retail banking services. It elucidates on how banks are facing increasing pressure from digital competitors, and how by recognizing these threats they can now go on the offensive by developing innovative technologies of their own."-Reginald D. Jele, Chief of Staff to the Minister of Finance, Republic of South Africa

"The Digital Banking Revolution should be considered a survival guide for bank leaders, providing those in the industry with a strategic blueprint on how to adapt, evolve and succeed in this digital age."-G. Paul Warner, Former Private Bank Director, National Australia Bank

"The Digital Banking Revolution is an insightful look at how financial technology has brought welcome changes to the banking industry. This is essential reading not only for the next generation of retail bank customers, but also for those who want to fully understand how financial services will be conducted going forward."-Thomas J. O'Rourke, Assistant Director, Banking, The Bermuda Monetary Authority

"The Digital Banking Revolution is an absolute must read for those who wish to gain a deeper understanding of how innovative technologies are shaping the future of financial services."-Boris Simic, Senior Manager-Business & Financial Strategy, Klarna Inc.