Free Kindle Bye Bye Banks?: How Retail Banks Are Being Displaced, Diminished And Disintermediated By Tech Startups And What They Can Do To Survive ebooks Download

                
              
Free Kindle 
Bye Bye Banks?: How Retail Banks Are Being Displaced, Diminished And Disintermediated By Tech Startups And What They Can Do To Survive ebooks Download
Tech companies have disrupted retailing, media, transit and travel. Now the retail banking business model looks set to be transformed too. In Bye Bye Banks? James Haycock and Shane Richmond describe these startups, and to which areas of the banking industry they are laying siege. It shows that this assault is already well underway and that many incumbents are poised to be displaced, diminished and disintermediated. It draws on extensive research and on-and-off the record interviews with senior executives in some of the biggest banks. Haycock and Richmond conclude with the recommendation that traditional banks need to reinvent themselves by launching a 'Beta Bank': a lean, stand-alone organisation fit for the future for which they provide a ten-point operating model. This short book is a bold, urgent and timely analysis of the forces shaping the future of financial services. Its message to industry leaders in the sector could not be more simple: adapt or prepare to be disrupted. "This work accurately and concisely captures the effects of the disruption brought to the banking industry by the digital revolution. The comments by other banking and innovation professionals about their own experiences are particularly intriguing." - Alessandro Hatami, former Innovation Executive at Lloyds Banking Group "James Haycock is a key voice for how the banking industry should and will change." - Tom Hopkins, Product Innovation Director, Experian Consumer Services "If you are an incumbent retail bank, read it, get on with it, make it happen." - Lee Sankey, former Group Design Director, Barclays
Paperback: 130 pages
Publisher: Wunderkammer (June 29, 2015)
Language: English
ISBN-10: 0993220649
ISBN-13: 978-0993220647
Product Dimensions:  5.5 x 0.3 x 8.5 inches
Shipping Weight: 5.6 ounces (View shipping rates and policies)
Average Customer Review:  4.1 out of 5 stars  See all reviews (7 customer reviews)
Best Sellers Rank: #244,595 in Books (See Top 100 in Books)   #47 in Books > Business & Money > Industries > Financial Services   #262 in Books > Business & Money > Economics > Banks & Banking
There are many good points covered in this book but I feel it’s too rooted in a banker’s perspective. The authors’ survey what’s out there or in development to attract people away from traditional banks? With the exception of blockchain and P2P lending I don’t see any of the ‘innovations’ being developed by non-banks as ‘killer apps’ which would compel me to make radical changes to how I interact with banks on a day to day basis.But beyond day to day banking my motivation to change is still quite strong and stems from what I think are compelling reasons to avoid banking in its current state.My concerns with current banking are:• Safety• Reward for risk• Security of personal information.One of the traditional functions of money is that it has been a safe way of holding a portion of one’s wealth. However from the GFC, we know how perilously close some banks came to collapse and in the case of Cyprus foreign account holders took a haircut on their deposits to preserve the liquidity of the banks. Since the GFC, these provisions have become reasonably common internationally and could be invoked should another crisis occur.So if bank deposits aren’t as safe as we thought then why are interest rates so low? Interest was traditionally seen as a reward for risk and for postponing consumption into the future. But since the GFC we have seen interest rates decline to near zero and cheap credit has led to massive inflation in the price of housing in many countries. Should interest rates rise, many mortgages will be in default, endangering the liquidity of banks again.Furthermore, where I live there is no explicit guarantee on bank deposits.
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