The Future of Banking 2015
At the Rotterdam School of Management MBA students Bas Bruijninckx, Marijn Hakker, Pieter Kappelhof, Rien Nijman and Bert Zwiers have as part of their assignment for the course New Global Business Environment looked at the future of Banking in 2015. To download their full report in PDF please click here.
Introduction: The official future
Banks are nowadays becoming more and more virtual. Shops are being closed; web sites and online banking facilities are introduced. “Trust” in a bank stands or falls with its virtual presentation, the (perceived) security as offered and the ease of use of its online banking application. Consolidation is a significant and ongoing industry process..
Scenarios
Ubiquitous financial services
In a world where trust is still mediated physically (but also experiences a lot of successful new entrants in the financial services industry), financial services become ubiquitous. Car dealers provide loans for your car; the grocery store gives you a credit card to finance your shopping in that store; etcetera.
eMoney© lines your eWallet©
Where trust is mediated and virtual players enter the arena of financial services, money will no longer need to be tangible. Financial services companies offer eWallets© that contain eMoney© which can be used for ePurchases as well eMoney© transfer to others and payment for products or services in brick and mortar shops.
The Butler Bank
New players in the industry are unsuccessful in providing financial services. The traditional banks keep on reigning in the world of personal finance. However, banks focus on smaller segments of clients and provide more than just banking services to them. In effect, banks become their clients’ Butler.