{"product_id":"virtual-banking-isbn-9781118742471","title":"Virtual Banking","description":"\u003cb\u003eTechnology is permanently transforming the banking industry, and digital payments are the key\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eElectronic Payments, Mobile Commerce, and Virtual Banking: A Guide to Innovation, Partnering, and Regulation\u003c\/i\u003e 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.\u003c\/p\u003e \u003cp\u003eConsumers 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. \u003ci\u003eElectronic Payments, Mobile Commerce, and Virtual Banking\u003c\/i\u003e 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:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eThe changing POS landscape and the need for digital wallet partnerships\u003c\/li\u003e \u003cli\u003eShifting gears to greenfield market opportunities versus non-profitable markets\u003c\/li\u003e \u003cli\u003eDigital channel best practices for superior customer experience\u003c\/li\u003e \u003cli\u003eWhen to outsource, and what capabilities to truly own\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eCase 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. \u003ci\u003eElectronic Payments, Mobile Commerce, and Virtual Banking: A Guide to Innovation, Partnering, and Regulation\u003c\/i\u003e provides the inside track on managing the shift and dominating the new marketplace.\u003c\/p\u003e  \u003cp\u003eForeword xiii\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003eINTRODUCTION\u003c\/p\u003e \u003cp\u003eInnovating through Scarcity 1\u003c\/p\u003e \u003cp\u003eThe Influence of Cloud on Innovation 3\u003c\/p\u003e \u003cp\u003eThe Influence of Smartphones 4\u003c\/p\u003e \u003cp\u003eBig Data = Big Driver of Innovation 4\u003c\/p\u003e \u003cp\u003eTaking a Cue from Retailing 5\u003c\/p\u003e \u003cp\u003eThe Enemy of My Enemy Is My Friend 6\u003c\/p\u003e \u003cp\u003eReconciling Innovation and Regulation 6\u003c\/p\u003e \u003cp\u003eIn Search of New Payment Revenue Streams 8\u003c\/p\u003e \u003cp\u003eNew Skill Sets for a New Era 9\u003c\/p\u003e \u003cp\u003eA Road Map for This Book 9\u003c\/p\u003e \u003cp\u003eNotes 11\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 1 Consumer Empowerment Knocking at the Door 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eHow Mobile Is Reshaping Consumer Expectations in Financial and Retail\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Mobile Is Changing Consumer Behavior 15\u003c\/p\u003e \u003cp\u003eMobile Is Blurring the Lines between Digital and Physical 17\u003c\/p\u003e \u003cp\u003eMobile Learnings from PayPal and Square 19\u003c\/p\u003e \u003cp\u003eMobile Commerce through Tokenization 27\u003c\/p\u003e \u003cp\u003eThe Mobile Camera—It’s Not Just for Pictures Anymore! 29\u003c\/p\u003e \u003cp\u003eThe Mobile Microphone—Offers and Payments through Soundwaves! 30\u003c\/p\u003e \u003cp\u003eNFC’s Rebound and the Promise of Host Card Emulation 31\u003c\/p\u003e \u003cp\u003eApple’s Passbook 33\u003c\/p\u003e \u003cp\u003eThe Apps Phenomenon 35\u003c\/p\u003e \u003cp\u003eThe Uber-ization of Mobile 36\u003c\/p\u003e \u003cp\u003e“Top of Wallet” to “Top of Mobile” 38\u003c\/p\u003e \u003cp\u003eThe Case of Braintree and Simple 39\u003c\/p\u003e \u003cp\u003eThe QR Code 40\u003c\/p\u003e \u003cp\u003eWhat Banks Can Learn from Starbucks 41\u003c\/p\u003e \u003cp\u003eLeveling the Playing Field with LevelUp 43\u003c\/p\u003e \u003cp\u003eFrom Mobile Banking to Tablet Banking 45\u003c\/p\u003e \u003cp\u003eMobile Models for the Emerging Markets 47\u003c\/p\u003e \u003cp\u003eWhat’s Next? More of the Same 51\u003c\/p\u003e \u003cp\u003eNotes 52\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 2 Social and Financial Services 55\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eMaintaining Relationships and Relevance through Social strategies\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDigital, Data, and the Future of Banking 58\u003c\/p\u003e \u003cp\u003eSocial Media Experiences in Banking 60\u003c\/p\u003e \u003cp\u003eGamification 62\u003c\/p\u003e \u003cp\u003ePersonal Financial Relationship Mapping 63\u003c\/p\u003e \u003cp\u003eCapitalizing on Social Banking 65\u003c\/p\u003e \u003cp\u003eMoven: Delivering Banking through Social Context 66\u003c\/p\u003e \u003cp\u003eSocial Banking in Europe and Asia 70\u003c\/p\u003e \u003cp\u003eSocial Login, Sharing, and Top of Wallet 71\u003c\/p\u003e \u003cp\u003ePeer-to-Peer Lending: Blending Social and Banking 73\u003c\/p\u003e \u003cp\u003eBeyond the Hype: Partnering for the Future with Peer-to-Peer Lenders 74\u003c\/p\u003e \u003cp\u003eLending Club: A Win-Win for Banks and Their Customers 75\u003c\/p\u003e \u003cp\u003eTakeaways for Banks 79\u003c\/p\u003e \u003cp\u003eAn Investor’s Perspective on Social Banking and the Emergence of Bitcoin 80\u003c\/p\u003e \u003cp\u003eMessage To Banks: Be a Smaller Part of a Bigger Pie 85\u003c\/p\u003e \u003cp\u003eNotes 86\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 3 Connected Financial Commerce 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eLocation-Based Services, Mobile Commerce, and Digital Wallets\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe “Local” Digital Wallet 91\u003c\/p\u003e \u003cp\u003eThe New Retail Experience 91\u003c\/p\u003e \u003cp\u003eRetail 2.0 and Its Effect on Payments 93\u003c\/p\u003e \u003cp\u003eEntrepreneurs, Developers, and Financial Services 95\u003c\/p\u003e \u003cp\u003eContext Banking: The Next Step 96\u003c\/p\u003e \u003cp\u003eLow-Energy Bluetooth, Hardware, and the Future of Commerce 97\u003c\/p\u003e \u003cp\u003eiBeacon and EasyPay: The Future of In-Store Payments? 98\u003c\/p\u003e \u003cp\u003ePayPal’s iBeacon: Proximity and Context 100\u003c\/p\u003e \u003cp\u003eGoogle Glass for Finances 101\u003c\/p\u003e \u003cp\u003eIn Search of the Digital Wallet 102\u003c\/p\u003e \u003cp\u003ePersonal Financial Management 103\u003c\/p\u003e \u003cp\u003eCoupons 104\u003c\/p\u003e \u003cp\u003eShopping Tools 104\u003c\/p\u003e \u003cp\u003eLoyalty and Prepaid 104\u003c\/p\u003e \u003cp\u003eTickets and Passes 105\u003c\/p\u003e \u003cp\u003eThe Who’s Who of Digital Wallets 106\u003c\/p\u003e \u003cp\u003eGoogle 107\u003c\/p\u003e \u003cp\u003eLifeLock (formerly Lemon Wallet) 108\u003c\/p\u003e \u003cp\u003ePayPal 109\u003c\/p\u003e \u003cp\u003eCarriers 110\u003c\/p\u003e \u003cp\u003eRetailers 111\u003c\/p\u003e \u003cp\u003eSquare Wallet 113\u003c\/p\u003e \u003cp\u003eWhat’s Next? 113\u003c\/p\u003e \u003cp\u003eNotes 114\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 4 Innovating with Big Data and Open Platforms 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCompeting in a World of Unlimited Data and Storage\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Rise of Platform Services 121\u003c\/p\u003e \u003cp\u003eApplication Programming Interfaces (APIs) for Online and Mobile Commerce 122\u003c\/p\u003e \u003cp\u003eCoping Strategies for Banks 123\u003c\/p\u003e \u003cp\u003ePayPal’s Bold Bet: Unleashing Innovation through an Open Platform 125\u003c\/p\u003e \u003cp\u003eApp Stores for Banks: Will It Work? 133\u003c\/p\u003e \u003cp\u003eWhat’s Next? 139\u003c\/p\u003e \u003cp\u003eNotes 141\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 5 Math-Based Currencies 143\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eHow Bitcoin May Prove Transformational to the Financial Services Industry\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eEntering the Age of Context 143\u003c\/p\u003e \u003cp\u003eIntro to Math-Based Currencies 146\u003c\/p\u003e \u003cp\u003eWhy “Math-Based Currencies”? 147\u003c\/p\u003e \u003cp\u003eMBCs Are a Reality 147\u003c\/p\u003e \u003cp\u003eHistory of Digital Currencies 148\u003c\/p\u003e \u003cp\u003eMath-Based Currency Characteristics 148\u003c\/p\u003e \u003cp\u003eBitcoin: The First MBC 149\u003c\/p\u003e \u003cp\u003eBitcoin’s Brief History 150\u003c\/p\u003e \u003cp\u003eIs It Bitcoin, bitcoin, or Just BTC 150\u003c\/p\u003e \u003cp\u003eBitcoin Is a Powerful Concept 150\u003c\/p\u003e \u003cp\u003eHow Bitcoin Works 152\u003c\/p\u003e \u003cp\u003eDigging Bitcoin 154\u003c\/p\u003e \u003cp\u003eDigital Push Payments 156\u003c\/p\u003e \u003cp\u003eCounterfeiting No More 156\u003c\/p\u003e \u003cp\u003eMBCs Enable Programmable Money 156\u003c\/p\u003e \u003cp\u003eCompleting the Bitcoin Ecosystem 157\u003c\/p\u003e \u003cp\u003eBitcoin Exchanges 158\u003c\/p\u003e \u003cp\u003eBitcoin Wallets—Where to Store Your BTC 159\u003c\/p\u003e \u003cp\u003eMobile Wallets 159\u003c\/p\u003e \u003cp\u003eCloud-Based Wallets 159\u003c\/p\u003e \u003cp\u003eBitcoin Hardware Wallet 160\u003c\/p\u003e \u003cp\u003eBitcoin Vaults 160\u003c\/p\u003e \u003cp\u003eTrading Platforms 160\u003c\/p\u003e \u003cp\u003eBitcoin Use Cases in Payments 161\u003c\/p\u003e \u003cp\u003eMBCs as Payment Rails 161\u003c\/p\u003e \u003cp\u003eB2B Payments—The Known Counterparty 162\u003c\/p\u003e \u003cp\u003eBitcoin and Consumer Payments 162\u003c\/p\u003e \u003cp\u003eBuy Me a Beer 163\u003c\/p\u003e \u003cp\u003eE-Commerce and MBCs 163\u003c\/p\u003e \u003cp\u003eGetting Harder: Music and Video 164\u003c\/p\u003e \u003cp\u003eChallenges at the POS 164\u003c\/p\u003e \u003cp\u003eImproving Bitcoin Processes 164\u003c\/p\u003e \u003cp\u003eImproving the Bitcoin Protocol 164\u003c\/p\u003e \u003cp\u003eProgramming Bitcoin for a Special Case: Online Micropayments 166\u003c\/p\u003e \u003cp\u003eWallets 167\u003c\/p\u003e \u003cp\u003eRipple: The Second MBC 167\u003c\/p\u003e \u003cp\u003eMBC Use Cases in Banking 168\u003c\/p\u003e \u003cp\u003eInternational Remittance Rails 168\u003c\/p\u003e \u003cp\u003eInterbank Settlement 169\u003c\/p\u003e \u003cp\u003eBuilding Trust with MBCs 170\u003c\/p\u003e \u003cp\u003eAutomating Transaction Policies 171\u003c\/p\u003e \u003cp\u003eMoving Ahead with MBCs 172\u003c\/p\u003e \u003cp\u003eConclusion 174\u003c\/p\u003e \u003cp\u003e\u003cb\u003eCHAPTER 6 177\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eThe Smart Pipe\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eModels that Will Survive the Next Generation The Prepaid Model 178\u003c\/p\u003e \u003cp\u003ePrepaid Nation: Redefi ning What a Bank Can Be 179\u003c\/p\u003e \u003cp\u003eThe “Underbanked” and Opportunities for Innovation 184\u003c\/p\u003e \u003cp\u003eStockpile: An Example of Brokerage Innovation Through Partnering 185\u003c\/p\u003e \u003cp\u003eMoneyGram: An Example of Innovation through Partnering 186\u003c\/p\u003e \u003cp\u003eInnovative Ways to Expand Access—PayNearMe 189\u003c\/p\u003e \u003cp\u003eHow Innovative Banks Are Partnering for Innovation 190\u003c\/p\u003e \u003cp\u003eThe CEO-CIO Relationship Driving the Innovation of ING DIRECT Canada 190\u003c\/p\u003e \u003cp\u003eA Whole New Era 193\u003c\/p\u003e \u003cp\u003eHow Banks Can Compete in the Future 194\u003c\/p\u003e \u003cp\u003eThree Imperatives to Partner for Innovation 196\u003c\/p\u003e \u003cp\u003eA Venture Capitalist’s Look at the Future of Banking 198\u003c\/p\u003e \u003cp\u003eTechnology as an Enabler and Partner 205\u003c\/p\u003e \u003cp\u003eWhat the Next 50 Years Might Hold 206\u003c\/p\u003e \u003cp\u003eDigital 207\u003c\/p\u003e \u003cp\u003eRelationship Management 207\u003c\/p\u003e \u003cp\u003ePlatform and Identity Friendly 208\u003c\/p\u003e \u003cp\u003eThe Future Bank Bundle: Platform-Relationship-Utility 208\u003c\/p\u003e \u003cp\u003eNotes 209\u003c\/p\u003e \u003cp\u003eAbout the Author 211\u003c\/p\u003e \u003cp\u003eIndex 213\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eDAN SCHATT\u003c\/b\u003eis the former Head of Financial Innovations for PayPal, responsible for defining and executing on PayPal's initiatives with the financial services industry. Schatt has also been an advisor to CGAP, part of the World Bank, and an industry analyst with Celent. Prior, he worked in the Financial Institutions Group at Citigroup. He currently serves as Chief Commercial Officer for Stockpile.    \u003c\/p\u003e\u003cp\u003eConsumers 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. \u003c\/p\u003e\u003cp\u003e\u003ci\u003eVirtual Banking: A Guide to Innovation and Partnering\u003c\/i\u003e offers a hands-on approach to understanding and competing in the modern electronic banking environment. Written by Dan Schatt—the former Head of Financial Innovation for PayPal—this vital resource explores the reasons behind the massive consumer migration away from traditional banks and provides clear, actionable guidance for beating the new banking models at their own game. \t \u003c\/p\u003e\u003cp\u003e\u003ci\u003eVirtual Banking\u003c\/i\u003e is filled with the information and tools needed to compete in the burgeoning electronic, mobile, and virtual environments and details how to implement the proven strategies that will lead to success. The book discusses real-world innovations from banks, non-banks, and emerging platforms, and explains the changing point-of-sale landscape and the need for digital wallet partnerships. Schatt shows how to identify and shift gears to green field market opportunities and veer away from unprofitable markets. In addition, the book outlines the digital best practices that will ensure superior customer experiences and keep consumers coming back for more. The author also includes information on when to outsource and what capabilities are best to own. \t \u003c\/p\u003e\u003cp\u003eThe book is filled with illustrative case studies from such industry leaders as PayPal, Google, Square, and Facebook. These examples clearly show the acceleration of innovation through banking partnerships, as well as the mechanics behind banking's most credible threats. The trick to surviving the paradigm shift is to embody innovation while providing a superior customer value proposition. \t \u003c\/p\u003e\u003cp\u003e\u003ci\u003eVirtual Banking\u003c\/i\u003e gives bankers and anyone determined to tap into the power of digital payments the inside track on managing the shift and dominating the new marketplace.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990454976741,"sku":"NP9781118742471","price":60.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118742471.jpg?v=1761787900","url":"https:\/\/k12savings.com\/es\/products\/virtual-banking-isbn-9781118742471","provider":"K12savings","version":"1.0","type":"link"}