More about 'Mobilisation and The Art of War in Transaction Space'.
Whether online or in a branch - people DON'T WANT TO 'BANK' - it's just a necessary evil.
The main reason that banks don't feature in the
brand love game is because people don't like to bank.
People like easy money.
- Easy to keep safe, ie. 'The burglar can find it under my mattress and the mugger can take all of it from me in the street - is it safer with your bank?'
- Easy to spend- 'If I keep it with you, will I be able spend it anywhere I like, at any time of the day or night?'
- Easy to count - 'I need to know how much I can spend and how much I have left' - just part being
easy to spend.
- Easy to make money from my money = 'Yes, if you give me the 'easy to keep, spend and count' I'll let you make some
easy money using my money, if you give me some, so long as it's easy.'
Consumers want to protect their money, transact, spend it easily, and have their money earn them
easy money. Retail Banking is all about easy money - even credit cards and loans - it's all about
People put their money in the modern concept of a bank out of habit and the lack of any real alternative. Given the opportunity of using a mobile for banking what do they do first? Check their balance and head for their bank's ATM. Why? Because they want
to spend their money without being charged by both their bank and some random bank. That is not
In the mobilisation age easy money will suddenly become easier than ever before, and the possibilities may shake a few foundations.
The 'big easy' brought on by the mobilisation of money will be the ease with which we'll be able to participate in other
easy money - making money from money.
I'll expand on the new paradigm in coming blogs but part of the revolution coming is the mobilisation of the Prosper's and 'community' shared risk loan systems.
Once we have easy money and ID on enough mobiles it'll just be a blink to the point where consumers will be able to micro-manage their money with ease.
If you want a loan you'll just put it into the system and it'll go out into the 'ether' along with millions of others. On handsets and screens anywhere, your offer will appear with the option to bid for financing part of your loan. Your credit worthiness
details will be there to see, but absolutely no personal ID. You'll have ID - It'll be directly tied to your mobile money and to have any financial credibility you'll have to use mobile money, especially if you're a traveling or migrant worker.
That's easy money.
If we give your family back home a mobile, so they can easily spend some of the money you earn, will you be more loyal? Consumers will be a better risk proposition if they're a mobile money user. We might reward you with talk-to-your-family-time.
Consumers will be able to determine how they manage their surplus cash and 'invest' directly in loans to other consumers and spread their risk over thousands of loans in a multitude of locations. You'll be able to decide what country, tribe, village or person
you want to help by investing in localised loans.
Investors will be able to easily select a risk mixture and have even a small investment automatically spread across a portfolio of loans types.
You'll be able to resell your investments to other investors.
Your easy money income will just go straight back into your mobile easy money and so around it goes.
Sound like a bank?
Mobilisation - it's all about easy money.