Final Thoughts on Bank 3.0: What Brett King Got Right and Wrong
Book: Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do Author: Brett King ISBN: 978-1-118-58963-2 Publisher: Wiley (2013)
Book: Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do Author: Brett King ISBN: 978-1-118-58963-2 Publisher: Wiley (2013)
Thirteen posts later, here we are.
We started this series with a simple question. Why is it so hard for small businesses to get a loan? Charles H. Green spent 30 years in banking, founded his own bank, and then wrote a book that basically answers that question by saying: the system was never built to work for you.
Mortgages are simple. You want a house. You need a loan. The loan has a rate, a term, and a monthly payment. That’s why LendingTree worked. Plug in your numbers, get offers, pick the cheapest one.
Banks take months to decide if you’re worth lending to. Online lenders figured out how to do it in hours.
The ATM was invented in the 1960s. It took 25 years before most Americans actually used one. That’s how slow banking technology moved. Meanwhile, Amazon went from selling books online to becoming the most trusted checkout system on the internet in a fraction of that time.
Book: Bank 3.0: Why Banking Is No Longer Somewhere You Go But Something You Do Author: Brett King ISBN: 978-1-118-58963-2 Publisher: Wiley (2013)
Small business funding used to be simple. You walked into a bank, sat down with a loan officer, and either got the money or you didn’t. Then 2008 happened. And everything changed.