From Alior Sync's social banking for Polish Gen Y, and Spain's La Caixa loved by the people of Catalonia … to Moven's money management concept launching in New York, and Zidisha enabling peer-to-peer lending for African entrepreneurs … the future of banking goes beyond money, to being about what people do with their money.
In the past, every local community had its own bank, with a queue of people and bars between you and your money. In fact you were lucky to even get there, given that they only opened when everyone was at work. Even today, most banks still seem antiquated. They work hard to hide the best deals from customers, and simple processes, like an international payment, can take a week. Whilst it was the greed and incompetence of corporate banking that drove the world to financial crisis, most customers see the whole banking system as opaque, bureaucratic and not to be trusted.
The next generation of banks does things differently.
They have no time for these out-dated practices. They design their services around the customer, less interested in outwitting innocent account holders with complex schemes and random charges, instead focused on (as a Visa ad campaign said) helping your money to flow smoother, and life to flow better. They focus on adding value to ...