Bank 4.0: Banking Everywhere, Never at a Bank - Hardcover

by Brett King (Author)

Winner of best book by a foreign author (2019) at the Business Book of the Year Award organised by PwC Russia

The future of banking is already here -- are you ready?

Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world's best banks have been forced to adapt to changing consumer behaviors; regulators are rethinking friction, licensing and regulation; Fintech start-ups and tech giants are redefining how banking fits in the daily life of consumers. To survive, banks are having to develop new capabilities, new jobs and new skills. The future of banking is not just about new thinking around value stores, payment and credit utility -- it's embedded in voice-based smart assistants like Alexa and Siri and soon smart glasses which will guide you on daily spending and money decisions. The coming Bank 4.0 era is one where either your bank is embedded in your world via tech, or it no longer exists.

In this final volume in Brett King's BANK series, we explore the future of banks amidst the evolution of technology and discover a revolution already at work. From re-engineered banking systems, to selfie-pay and self-driving cars, Bank 4.0 proves that we're not on Wall Street anymore. Bank 4.0 will help you:

• Understand the historical precedents that flag a fundamental rethinking in banking
• Discover low-friction, technology experiences that undermine the products we sell today
• Think through the evolution of identity, value and assets as cash and cards become obsolete
• Learn how Fintech and tech "disruptors" are using behaviour, psychology and technology to reshape the economics of banking
• Examine the ways in which blockchain, A.I., augmented reality and other leading-edge tech are the real building blocks of the future of banking systems

If you look at individual technologies or startups disrupting the space, you might miss the biggest signposts to the future and you might also miss that most of we've learned about banking the last 700 years just isn't useful.

When the biggest bank in the world isn't any of the names you'd expect, when branch networks are a burden not an asset, and when advice is the domain of Artificial Intelligence, we may very well have to start from scratch. Bank 4.0 takes you to a world where banking will be instant, smart and ubiquitous, and where you'll have to adapt faster than ever before just to survive. Welcome to the future.

Front Jacket

Praise for BANK 4.0

"From Bank 2.0 to 4.0, Brett has not only been tremendously accurate in predicting where the ball is going in the future of money, but, more importantly, he's been actively shaping how it will get there. Here's a tip: don't bet against him."
--Alex Sion, Co-founder, Moven; General Manager, Mobile Channel, JPMorgan Chase

"Banking is being disrupted on a global basis and Brett's book helps to navigate through these rapid transformations. A must-read in the new era of banking."
--Valentin Stalf, CEO and co-founder, N26

"Yet again, Brett King brings together some of the most knowledgeable and experienced figures in global FinTech for this authoritative guide to the very latest mega trends."
--Anne Boden, CEO and founder, Starling Bank

"In Bank 4.0, Brett moves our thinking along in financial services from rethinking the bank model to pointing to how to build the new model using first principles thinking. This book brings together not only his own thoughts, but the thinking of many of us who are trying to create the next generation of finance using technology, or FinTech. Anyone involved in finance, technology, money and banking who doesn't pick up this book is missing the key to their future and, as a result, might not have one."
--Chris Skinner, Bestselling Author of Digital Human; Chairman of the Financial Services Club

"As the banking industry continues to disrupt at an ever-accelerating pace, this unputdownable book paints a future that is both exciting and inspiring. This is Brett, the King of futurism, at his compelling best! Speaking as a banker, you must read Bank 4.0."
--Suvo Sakar, Senior EVP and Group Head of Retail Banking and Wealth Management, Emirates NBD

Back Jacket

The future of banking is already here. Are you prepared?

Bank 4.0 explores the radical transformation already taking place in banking, and follows it to its logical conclusion. What will banking look like in 30 years? 50 years? The world's best banks are responding to this transformation; regulators are rethinking friction, licensing and regulation; FinTech start-ups are redefining what it means to bank today. Banks are being forced to develop new capabilities, new jobs and new skills--and it's a whole new world. The future of banking is not about new value stores, payment and credit utility--it's embedded in voice-based smart assistants like Alexa and Siri, available 24/7 to pay, book, transact or enquire. Bank 4.0 means that either your bank is embedded in your world, or it isn't.

The final volume in the BANK series, this book explores the future of banks amidst the evolution of technology and highlights the beginnings of this revolution already at work.

"Brett's best yet! While one may not agree with all his assertions, the fundamental insights--that banking needs to be reimagined from first principles, that it must be embedded into daily lives, that data, AI and voice are game changers in this regard--cannot be argued against. Bank 4.0 is a tour de force that opens your eyes to what already exists, and your mind to the imminent possibilities. A must-read." --Piyush Guptav, Group Chief Executive Officer, DBS Bank

Author Biography

Brett King is an international bestselling author, a renowned commentator and globally respected speaker on the future of business. He has spoken in over 50 countries, to more than a million people, on how technology is disrupting business, changing behavior and influencing society. He advised the Obama White House, the FED and the National Economic Council on the future of banking in the United States, and advises governments and regulators around the world. He appears regularly on US TV networks like CNBC, where he contributes on Future Tech and FinTech.

King hosts Breaking Banks, the world's leading dedicated radio show and podcast on technology impact in banking and financial services (150-plus countries, 6.5 million listeners). He is also the founder of the neo-bank Moven, a globally recognized mobile start-up, which has raised over US$42 million to date, with the world's first mobile, downloadable bank account.

Named "King of the Disruptors" by Banking Exchange magazine, King was voted American Banker's "Innovator of the Year," "The world's #1 Financial Services Influencer" by The Financial Brand, and was nominated by Bank Innovation as one of the top 10 "coolest brands in banking." He was shortlisted for the 2015 Advance Global Australian of the Year Award for being one of the most influential Australians living offshore.