Electronic Payments, Mobile Commerce, and Virtual Banking: AGuide to Innovation, Partnering, and Regulation takes ahands-on approach to competing in the modern banking environment.Former PayPal Head of Financial Innovation Dan Schatt explores thereasons behind the massive consumer migration away from traditionalbanks, and provides clear, actionable guidance on beating newbanking models at their own game. Digital payment is the hottesttopic in banking today, and is set to define the future of theindustry.
Consumers are rapidly abandoning traditional banks in favor ofinstitutions that are lower-cost and more consumer-centric. Betweenthe pace of financial regulatory reform and the cloud computingrevolution, the old banking model is on the fast track toextinction. Electronic Payments, Mobile Commerce, and VirtualBanking provides the information banks need to compete in thisnew environment, and details the integral implementation actionsthat will allow them to thrive. The book discusses real-worldinnovations from banks, non-banks, and up and comers, and the heavycompetition from the new outsource bank model. Topics include:
- The changing POS landscape and the need for digital walletpartnerships
- Shifting gears to greenfield market opportunities versusnon-profitable markets
- Digital channel best practices for superior customerexperience
- When to outsource, and what capabilities to truly own
Case studies including PayPal, Google, Square, Facebook,Twitter, and more illustrate acceleration of innovation throughbanking partnerships, as well as the mechanics behind banking'sbiggest, scariest threats. The trick to surviving the paradigmshift is to embody innovation while providing a superior customerproposition. Electronic Payments, Mobile Commerce, and VirtualBanking: A Guide to Innovation, Partnering, and Regulationprovides the inside track on managing the shift and dominating thenew marketplace.