Brett King hat sich freundlicherweise zu einem kurzen Interview bereit erklärt. Brett King ist Bestseller-Autor, Gründer der Movenbank und anerkannter Experte und Speaker zum Thema Bank 2.0. Auch wir haben Brett in diesem Blog schon häufiger erwähnt und zitiert. Umso mehr habe ich mich natürlich über das Interview gefreut.

Hi Brett, first thanks for the interview. What do you mean, which trends will impact the banking the next 5-10 years?

The most interesting trend will be the effort of banks to acquire customers more broadly as the branch funnel starts to fail – this will result in lots of interesting experiments in third-party collaborations, hybrids, JV models and contextualized banking. Additionally, as banks struggle to update core and legacy systems to cope with real-time demands, some new functionality will be leveraged via the cloud. Social and mobile will just become normal, and within 5 years we’ll see the mobile phone dominate day-to-day banking globally, resulting in a ratio of 300:1 for digital interactions versus face-to-face interactions. Banking will be dominantly a digital activity, and branch based interactions will be rare and cherished.

How should established, traditional banks respond to these trends? What have they done right so far? What do they have to improve?

The first requirement is really to reprioritize channel budgets, metrics and the organization structure to better serve the emerging customer. Right now branch investment outweighs digital in most banks 50 to 1. That will need to rapidly change.

In terms of what have banks done right so far? There’s no single bank that has everything right today. There’s isolated examples of some really innovative thinking that I admire, like BBVA’s ATM revamp with IDEO, NAB’s Ubank direct-online model, Che Banka, Virgin Money, OCBC Frank, DBS and Jyske bank branch re-designs, emerging voice recognition and automated teller systems, social integration at places like Citi and ASB in New Zealand, and so forth. There are some great examples of experimentation that generally occur outside of the traditional bank organization structure that work really well.

In terms of improvement, the list is too long here, but I would start with better online engagement and journeys (distributed), great mobile apps and mobile wallet schemes including in-store and P2P payments capability. Social media integration for support, crowdsourcing and brand dialog are simple hygiene factors too.

With movenbank you want to reboot the retail banking. Can you explain the concept of movenbank to our readers?

Movenbank is a branch-less, card-less, paper-less bank that focuses on connecting consumers with their money in smarter ways. We provide advice at scale via the handset every time you make a payment or interact with us, and we get rid of all the friction. Our customers never have to fill out an application form, they simply maintain a central profile and all product decisions are leveraged off that profile, which we build on over time as more ID&V or details are required.

We’ve made huge changes in the way we interact. The apps and interfaces for Movenbank are very visual and engaging. We don’t separate internet banking from the main bank website either. We just have one website and we have various states of engagement depending on your relationship with us.

What are the next steps of the movenbank?

We’ll be launching in the US in the coming months, and looking to expand into Europe in 2013, and possibly Asia also.

Finally, a future prediction: What will the leading online bank in 2020 do better than its competitors?

They will be a distributed bank giving you your bank functionality when and where you need it – anticipating your needs and watching for triggers based on behavior, location or some other key data point. The best banks of 2020 won’t wait for a customer to come to them to solve a problem, they’ll be there and ready to help you when you most need it, and the friction of old around application forms, credit risk assessment, etc will be removed because based on what I know about you I’ll be able to make all those decisions as required in real-time. Whether I want to buy a home, buy a car, travel, go shopping or invest in my future, the bank will be a seamless part of my life and geared towards being a ever ready financial assistant, rather than a place I go to speak to a banker. Banking will no longer be a place you go, but just something you do….

Thank you, Brett!