Emotional Banking: Fixing Culture, Leveraging FinTech, and Transforming Retail Banks into Brands

Banks must understand the principles behind Emotional Banking to survive and thrive in the age of FinTech. This book discusses the history of the space, an overview of FinTech, the state of banking today, and the concept of Emotional Banking and Brand as an answer to the problems outlined. It concludes with examples of best practices and a hands-on approach to change the inertia, become a brand, and make customers fall in love with their bank.

Format: Hardback
Length: 159 pages
Publication date: 27 March 2018
Publisher: Springer International Publishing AG

Banking is facing significant threats despite the availability of fast-paced technology known as FinTech. An outdated business model and internal organizational paralysis hinder the creation of a truly beloved brand and impede change. To survive and thrive in the face of growing competition, banks must grasp the principles of Emotional Banking, a cultural change concept that centers around reimagining banking products and delivery to prioritize the consumer.

This book begins by tracing the history of the space, followed by an overview of FinTech. It then delves into the current state of banking, featuring insights from industry giants. The concept of Emotional Banking and Brand emerges as a solution to the challenges outlined. The book concludes with examples of best practices and a practical guide on how to overcome inertia, establish a brand, and win the hearts of customers.

Some of the questions addressed in this book include:

• Why don't banks "care"?
• How many banks will survive?
• What is FinTech, and why does it matter?
• Can banks become beloved brands and find their way into the consumers' hearts?
• Why is there a disconnect between what we say and what we do in the industry?
• Is inertia in banking a result of broken internal culture?
• Which big brand or challenger will dominate the industry in the next five years?

By embracing Emotional Banking and implementing these strategies, banks can position themselves for success in an ever-evolving financial landscape.

Weight: 448g
Dimension: 164 x 251 x 19 (mm)
ISBN-13: 9783319756523
Edition number: 1st ed. 2018