Brett King's book "Bank 4.0: Banking Anywhere, Never at a Bank" might be of interest to you if you're curious about the future of banking and how technology is changing the way we handle our finances. This book is the final volume in King's BANK series, which explores the radical changes that are happening in the banking industry due to changing consumer behaviors, new regulations, and disruptive innovations.
King makes the case in this book that the old banking model, which is built on tangible branches, goods, and transactions, is quickly becoming outmoded. According to his forecast, voice-based smart assistants, smart glasses, and other gadgets that provide us individualized and relevant financial advice will become a part of our daily lives. He also looks at how the value proposition of banks is being challenged by low-friction, smooth, and convenient experiences provided by fintech and internet giants.
King also covers the impact that identity, value, and asset evolution will have on banks' social obligations. He describes how the use of cash and credit cards will become obsolete as we transition to a future where blockchain, biometrics, augmented reality, digital currencies, and artificial intelligence will make it possible to swap value for new kinds of currency. He also discusses how these technologies may affect regulation, security, privacy, and financial inclusion.
The book is divided into four parts:
- Part I: The Evolution of Banking - This section recounts the history of banking from its inception to the present and identifies the major forces and obstacles that have formed the sector. Also, it introduces the idea of "instant, intelligent, and pervasive banking," or "Bank 4.0."
- Part II: The Future of Banking - The new trends and technologies that are altering the banking industry are examined in this section, including fintech startups, tech behemoths, platform ecosystems, digital identities, contextual interaction, money moments, and embedded banking. The effects of these shifts on regulators, established players, and consumers are also covered.
- Part III: The Future of Money - This section examines the evolution of money and value in the digital age and how it impacts the function and role of banks. It includes subjects including cryptocurrencies, stablecoins, digital currencies issued by central banks, tokenization, smart contracts, and programmable money.
- Part IV: The Future of Advice - In the era of artificial intelligence, data analytics, and personalization, this section focuses on the future of financial counseling and asset management. It examines how augmented reality, chatbots, digital assistants, and robo-advisors might improve client experiences and outcomes.
The book is presented in an interesting and educational tone, and King's points are well-supported by numerous examples, stories, and statistics. Anybody who is interested in learning about the trends and forces influencing the future of banking and finance should read it. It is also a helpful tool for academics, regulators, policymakers, investors, bankers, fintech, and other professionals who want to remain on top of the latest developments and foresee the potential and difficulties that Bank 4.0 will present.
The book has 352 pages and was published by John Wiley & Sons in December 2018. It is available in hardcover, paperback, e-book, and audiobook formats. You can purchase the book on the following link:
The book has 352 pages and was published by John Wiley & Sons in December 2018. It is available in hardcover, paperback, e-book, and audiobook formats. You can purchase the book on the following link:
