Technology is permanently transforming the banking industry, and
digital payments are the key
Electronic Payments, Mobile Commerce, and Virtual Banking: A
Guide to Innovation, Partnering, and Regulation takes a
hands-on approach to competing in the modern banking environment.
Former PayPal Head of Financial Innovation Dan Schatt explores the
reasons behind the massive consumer migration away from traditional
banks, and provides clear, actionable guidance on beating new
banking models at their own game. Digital payment is the hottest
topic in banking today, and is set to define the future of the
industry.
Consumers are rapidly abandoning traditional banks in favor of
institutions that are lower-cost and more consumer-centric. Between
the pace of financial regulatory reform and the cloud computing
revolution, the old banking model is on the fast track to
extinction. Electronic Payments, Mobile Commerce, and Virtual
Banking provides the information banks need to compete in this
new environment, and details the integral implementation actions
that will allow them to thrive. The book discusses real-world
innovations from banks, non-banks, and up and comers, and the heavy
competition from the new outsource bank model. Topics include:
* The changing POS landscape and the need for digital wallet
partnerships
* Shifting gears to greenfield market opportunities versus
non-profitable markets
* Digital channel best practices for superior customer
experience
* When to outsource, and what capabilities to truly own
Case studies including PayPal, Google, Square, Facebook,
Twitter, and more illustrate acceleration of innovation through
banking partnerships, as well as the mechanics behind banking's
biggest, scariest threats. The trick to surviving the paradigm
shift is to embody innovation while providing a superior customer
proposition. Electronic Payments, Mobile Commerce, and Virtual
Banking: A Guide to Innovation, Partnering, and Regulation
provides the inside track on managing the shift and dominating the
new marketplace.
