Banks have invested in these different capabilities in the name of choice, but in doing so, they’ve shifted the burden of managing that complexity to the customer.
Services like Netflix and Pandora took the complexity out of choosing movies and music.
The bank of my dreams would use its superpowers to be one step ahead of me.
I remember the day when I Googled “United Airlines” and a little card popped up with the details and current flight status of the recent flight I bought.
But when you ask people about their dreams you often hear about money.
Financial issues are the leading cause of stress in relationships and are frequently linked to health issues.How cool would it be if my bank could use all the rich transaction data is has to improve the quality of my life.Imagine if exchange rates, flights delays, ATM locations and directions from my Airport to hotel were all delivered to me by my bank.But the banks that exist today choose to stand on the sidelines protecting the business they have today and leveraging technology merely as a cheaper customer acquisition and servicing tool.I’ve spent alot of time recently thinking about what the bank of my dreams would look like, and I’d like to share that dream.I have an imagination or should we say a picture of my dream house and I would like to discuss that: Here is the image of my dream house and I am pretty sure that by God’s grace I will definitely fulfill my dream of building such a house.And people should also watch such kind of dreams because by watching such dreams, we get a kick of moving ahead in our lives and getting to a good position in our careers.On a more serious note, my bank would use this data to predict the future and be proactive in managing my cashflow.The concept of overdraft or a surprise bill will quickly become a distant memory as my bank would use the information and tools it has to keep me in the green.She may be a robot, an algorithm or a real person, but she will be there with me 24/7 ensuring I have all the information I need to make smart decisions and sleep well.The bank of my dreams would get rid of the insanity of decades of duct taped together identity and payment technologies.