The Past, Present, and Future of Money, Banking and Finance

The First Age: The Creation of Shared Beliefs

Shared beliefs is the core thing that brings humans together and binds them. It is what allows us to work
together and get on with each other, or not, as the case may be.

The Second Age of Man: the Invention of Money

down. It broke down because of humankind settling into larger groups and farming. The farming and
settlement structures introduced a revolution in how humankind operated. Before, people foraged and
hunted; now they settled, and farmed together.

The Third Age: the Industrial Revolution

appeared from the 1600s, and were organized as government-backed entities that could be trusted to
store value on behalf of depositors. It is for this reason that banks are the oldest registered companies in
most economies.

The Fourth Age of Man: the Network Age

The reason for talking about the history of money in depth is as a backdrop to what is happening today.
Money originated as a control mechanism for governments of Ancient Sumer to control farmers, based
upon shared beliefs.

We share a belief in banks because governments say they can be trusted, and governments use the
banks as a control mechanism that manages the economy.

The Next Age of Moneykind: The Future

Having covered four ages of moneykind—barter, coins, paper, chips—what could possibly be the fifth?

When we are just at the start of the Internet of Things (IoT), and are building an Internet of Value
(ValueWeb), how can we imagine something beyond this next ten-year cycle?

2116. What will the world of 2116 look like?

Well there are some clues. We know that we have imagined robots for decades, and robots must surely
be pervasive and ubiquitous by 2116 as even IBM are demonstrating such things today. A century from
now we know we will be travelling through space, as the Wright Brothers invented air travel a century
ago and look at what we can do today.
 The bank service culture,

customer handling and communication, adminstrative issues

How customer communications management is changing the banking industry

Forms, correspondence, written statements, contracts, subscription forms, informational and in-depth
materials, service delivery receipts, transactional documents: The content that has conveyed corporate
communications over the years has always enabled banks and financial services companies to interact
with their customers.

In banking, as in many other industries, digital transformation is profoundly redefining business models
and business processes, especially those related to communication.

Customer communication management (CCM) in banking fits right in with this change, providing
financial institutions with an effective and efficient tool to offer increasingly digital customers the
opportunity for a true multichannel journey.

The digital revolution in banking: challengers and the impact on branches

According to Statista.com, the use of online contact modes and the preference for mobile banking will
increase steadily through 2024. The trend will assume remarkable dimensions in the Asian market (Far
East and China), which will see the number of active users jump from 805 million (2020) to one billion
(2024). Although Asia represented the largest market for online banking in 2020, the countries with the
highest penetration rates are all European (South Korea ranked sixth, with a penetration rate of 74%).

The trend toward widespread digitization of banking services thus seems unstoppable and it’s
helping impose a new logic in the design of bank-customer relationships.

The Benefits of Customer Communication Management in Banking

Customer Communication Management is a strategy through which organizations streamline and

accelerate the way they create, distribute, store, and update their communications with customers.

Banks, insurance companies, and other financial service providers generate a variety of communications
every time they interact with their customers: correspondence, company policy updates, account
statements, sending claims, renewal notifications, and informational materials about new products and
services. With effective Customer Communication Management, communication becomes a factor in
competitive advantage.

A CCM enables service desk or front office staff to generate and distribute personalized customer
communications in real time.

The bank system functional enviroment & itsrequired space

Modern Bank Interior Design

Online banking has impacted the financial industry overall, including bank interior design.
Because many banking transaction services are accessible online, accommodating non-
transactional services, like those pertaining to loans, mortgages, investments and business
services, remain major considerations for today’s bank interiors, it’s critical to understand the
services being offered, how customers will access these services, the kinds of relationships
customers seek from bank professionals alongside the ancillary services the institution will offer.

Here are a few notable trends in modern bank interior design that enhance the customer
experience

Less Paper, Display and Storage Space

Most transactional banking can be done via laptops and personal computers, reducing pen and
paper transactions.

. This frees customer service reps and tellers to greet customers at the front door — something
that isn't possible when they're planted behind a solid teller line.

This trend helps to create an accessible, inviting space for customers. It also allows the bank’s
interior to focus on comfort and accessibility that aligns with the bank’s signature brand and
appeals to customers.

Wide Open Spaces

Modern banks use warm, welcoming designs and open transaction areas to create an experience
worth remembering. This trend is certainly impacted by less pen and paper transactions, but also
by changing technology. However, customers that come in today for loans, investments,
mortgages or business services want privacy and require closed offices.

Modern Banking Offices

Digital access, technology changes and remote working capabilities are several trends impacting
a global quest to explore the question, “what is an office?” The banking industry is continually
exploring this question
 Today’s bank office spaces must provide privacy for customers seeking confidential
discussions.

Key Concepts of Bank Design

People visit banks for many of the same reasons they did decades ago. To manage their finances,
secure loans and plan their financial futures.

six key concepts that come together to influence the overall success of a bank branch:

Image and Design

Customer Demographics

Location

Interior Space

Exterior Space

Functionality

Image and Design

Designing Your Bank’s Public Image

It’s difficult to overstate the importance of a bank’s image. From small-town banks to larger
metropolitan branches, financial institutions provide a sort of community identity for their
patrons.

Things like culture, community and history can be designed into a bank from the very beginning.

What is a Community Bank?

A community bank is a financial institution that primarily serves a small geographic area.
Community banks are locally owned and operated, as opposed to belonging to a large bank
corporation.

Customer Demographics
Using Customer Demographics in Bank Design

Understanding your customer base is a game-changing advantage in today’s competitive

financial market. People from different generations bank differently.

People with different socioeconomic statuses bank differently. People from different
neighborhoods bank differently. And in an ideal scenario, all of these differences would
influence your bank project.

Attracting Bank Customers Through Design

As you look into the various demographics your bank is meant to serve, it will uncover what
types of experiential—and technological—offerings to include in your design.

Keeping your customers, and their demographics, in mind as you design your bank will help
ensure your design is attracting the bank customers you’re after. When you understand what they
expect and need from their financial institution, you can build those services and experiences
right into the design of your branch.

Location

The Importance of Bank Location

Too many banks have been—and are still being—built in the wrong locations. Unlike a lot of the
other concepts in this guide, which are made up of many smaller decisions, choosing a bank
building location is a single decision that carries a lot of weight.

The Science of Site Selection

Instead of leaving bank location selection up to chance, consider following a mathematical

model that statistically determines the best possible location for a new branch. By analyzing
factors like distance from relevant businesses, accessibility, signals of economic growth and
more, you can give your next bank location the best possible shot at being successful.

Interior Space
Understanding Bank Interior Design

Bank interiors carry a lot of responsibility. Today’s customers are looking for convenient and
overall positive experiences, and they’re going to build relationships with institutions that
provide those things

Modern Bank Interiors Attract Talent Too

Including assets like those listed above have a secondary benefit of enabling you to hire more
qualified staff who can do more than smile and process a transaction.

Overall, providing personal touches and experiences for your customers will keep them coming
back to you to be their trusted financial advisor.

Functionality

Technology and Banking Functionality

When it comes to providing a great customer experience, functionality has a massive impact.
Think of it this way: when a customer takes the time to come into your branch, every second you
have their presence is an opportunity to strengthen the relationship they have with your bank.

Banking technology can enable customers to complete their own transactions by making certain
resources accessible, like:

ITMs and full-function ATMs

Self-service coin counters

Tech islands

Deposit automation

Cash recyclers