The future of banking

“Bank 3.0: Why banking is no longer somewhere you go, but something you do” by Brett King

According to the author, Brett King, there are 4 phases of behavioural disruption in banking: 1. The arrival of the internet 2. The emergence of smart device or app phone 3. Our switch to mobile payment on a broad scale (which is where we currently are) 4. Banking no longer being somewhere we go, but something we just do.

Published in 2013, this book is largely about the road to the 4th disruption. It shows an exciting glimpse of what the future may look like and how banks will play their role in it. It is a world where “someone else owns the customer, [while] banks become the manufacturers, networks and processes that support the utility of banking.”

The book ultimately takes us through the evolution of banking, which are illustrated by abundance of data and statistics to provide us with the contextual trend, where now by the time I read it in 2021 I can see how plenty of the predictions by King have already happening.

An essential read for bankers or those who are interested to learn about the banking industry.