'We can’t solve problems by using the same kind of thinking we used when we created them '~ Albert Einstein
This week I read 'Bank 4.0: Banking Everywhere. Never at a Bank' by Brett King. This book was first published in 2018 and since then crypto, blockchain, and fintech as a whole has evolved so much.
When incumbent banks initially thought of digital transformation they designed by analogy. But what we have seen from fintech's over the past few years is designed by first principles.
What I found most interesting about this book is the idea of banking embedded in our lives. Everything will revolve around the customer experience and will be totally contextual to that current moment.
We have already seen the start of this with buy-now-pay-later and Robo advisory. It will be interesting to see how open banking, supported by AI will remove friction and enhance the customer experience even further in the future.
"Banking is not somewhere you go, but something you do. "
What book did you read this week?
This week I read 'Bank 4.0: Banking Everywhere. Never at a Bank' by Brett King. This book was first published in 2018 and since then crypto, blockchain, and fintech as a whole has evolved so much.
When incumbent banks initially thought of digital transformation they designed by analogy. But what we have seen from fintech's over the past few years is designed by first principles.
What I found most interesting about this book is the idea of banking embedded in our lives. Everything will revolve around the customer experience and will be totally contextual to that current moment.
We have already seen the start of this with buy-now-pay-later and Robo advisory. It will be interesting to see how open banking, supported by AI will remove friction and enhance the customer experience even further in the future.
"Banking is not somewhere you go, but something you do. "
What book did you read this week?
