Speed, Change and Mobile Banking

the revolution and upcoming demolition of traditional banks in light of mobility.  

–           In 1980 – credit cards took 14 days to approve, personal loans 7-14 days, home mortgages 30+ days.

–          In 2008 – credit card were instantly approved, personal loans pre-approved/24 hours, home mortgages 24 hours.

The increase in speed between 1980 and 2008 was primarily the result of the internet evolution and e-commerce.
Now jump forward to 2013, and mobility is the cause of the next increase in tempo.
People with mobile devices want instant access to their personal account information.
They want their business relationships and shopping experiences to be wonderful, convenient, digitized and instant.
Do we directly associate  the brand quality with thier mobile app quality.

We are quickly coming up on a time when banks need to completely rethink their purpose and retool.
Many of us receive our paychecks electronically.  We receive and pay our bills electronically.
We use debit and credit cards for most transactions.  This is the digitization of banking.
The less cash we use, the less need for ATMs, and the less need for bank buildings.

Our mobile banking apps become our bank, and banking is a service that is offered by our mobile apps.
Research shows we access our banking information many times more in a year via a mobile app than through our bank branch.
The unstoppable trend is already here.

Once banking becomes “unhinged” from a physical building, banking becomes a “thing” that can be offered by many different kinds of companies.
Suddenly banks find themselves competing with a new and massive number of different companies offering a variety of traditionally bank only services.


Traditional banks need to immediately understand the mobile app is the new bank, and services will include
mobile banking, mobile payments, e-wallets, financial services, advice, social interactions, guidance, gamification of our financial plans,
Big Data comparisons with others in our demographic etc.

Competition will come from companies far outside of traditional banking circles.



read: Bank 3.0 by Brett King (http://www.banking4tomorrow.com/)


Yves Kallaert

Business Develompent Manager

Yves is a Mobile Strategist, with over 10 years of experience in mobile innovation and strategy. As co-founder of the Belgian Mobile Monday community, Community gatekeeper Mobile at IAB Belgium and Member of STIMA Digital Marketing Expert Group, he organizes and co-organizes mobile events in Belgium. Yves is keynote speaker, organizes workshops and lunch-and-learn events on mobile and mobile 2.0. His healthy passion for people, Heisenberg’s Uncertainty Principle, quantum physics and The Hitchhiker’s Guide to the Galaxy make him an unorthodox out-of-the-box thinker. He helps brands, agencies and media agencies in Belgium understand how to leverage Mobile and how to properly deploy mobile business capabilities across their organizations, while focusing on user-relevance and user-experience. Enthusiast networker an avid user of social media. When he isn't working, networking, hanging out with his kids or visiting a Sci-Fi convention, you can probably find him horseback riding in some remote desert or scuba diving in the red sea . Specialties: mobile strategy, marketing strategy, communications strategy, mobile applications, developer marketing, app marketing, new business development, brand development, value engineering, business strategy, event planning, strategic advisor, mobile 2.0, networker, blogger.

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