Bye bye banks?
Subtitle: how retail banks are being displaced, diminished and disintermediated by tech startups and what they can do to survive
By: James Haycock with Shane Richmond
Contributors: Richmond, Shane, author
Publisher: WunderKammer
Published: 2015
Place of publication: Melbourne, Victoria
Language: eng
Number of pages: 107
ISBN-13: 9780993220647
Copyright date: 2015
Subjects: Banks and banking; Technological innovations; Financial institutions; Internet banking; Nonbank financial institutions; High technology services industries
Other titles: Export and investment facilitation under the microscope
Description: Tech companies have disrupted retailing, media, transit and travel. Now the retail banking business model looks set to be transformed too. In Bye Bye Banks? James Haycock and Shane Richmond describe these startups, and to which areas of the banking industry they are laying siege. It shows that this assault is already well underway and that many incumbents are poised to be displaced, diminished and disintermediated. It draws on extensive research and on-and-off the record interviews with senior executives in some of the biggest banks. Haycock and Richmond conclude with the recommendation that traditional banks need to reinvent themselves by launching a 'Beta Bank': a lean, stand-alone organisation fit for the future for which they provide a ten-point operating model.