Redefining Financial Services explores the fundamental redefinition of the role of financial intermediaries in the new century. Combining empirical knowledge with a historical approach, the author reveals that seven centuries of advances in technology have changed the nature of financial services very little. Examining the state of financial services today in the context of the new economy's evolution, Joe DiVanna investigates what changes are happening in the financial industry, where they are occurring, how they are materializing and, more importantly, why.

Joseph A. Divanna is CEO of Maris Strategies Ltd.

List of Figures

ix

Preface

xi

Acknowledgements

xv

Part I Introduction to Value Propositions

1

(8)

Part II The Future of Banking Services

9

(84)

Designing the Twenty-first-century Financial Institution for Value

15

(9)

The Future of Banking: E =mc3

24

(13)

Pervasive Computing: Really Getting to Know Your Toaster

37

(11)

Convergence and the Changing Landscape of Financial Services

48

(10)

elnsurance: Staking a Claim in the New World of Insurance

58

(6)

Capital Markets: Global Aspirations, Regional Values and Local Fears

64

(5)

Introducing eMarketplaces

69

(7)

Web Projects, Infrastructure and Value Propositions

76

(8)

Dot-com Lessons Learned: To Be or Not To Be, Value is the Question

84

(9)

Part III Global Viewpoints

93

(64)

Developing Trust, Brands and Services in African Banking

101

(5)

The Asian Advantage: A Modular Approach to Business Agility

106

(4)

Taiwanese Collaborative Product Commerce

110

(4)

Lifestyle Banking from Down Under

114

(4)

The European Synconomy

118

(5)

The Scandinavian Approach to mBanking

123

(6)

Eastern Europe Inc. Even Shakespeare said 'What's in a Name?'

129

(13)

Developing a Twenty-first-century Middle Eastern Financial Services Agenda

142

(6)

Diaspora Financial Services for Mobile Populations

148

(3)

Globalization: One Size Does Not Fit All

151

(6)

Part IV The Future of Payment Systems

157

(40)

An Evolution to the Exchange of Value

163

(5)

Anticipatory Technologies and Customer Centricity

168

(5)

Globalization, Social Adoption, International Regulation and the Evolution to Bankruptcy

173

(6)

Privacy: Big Brother Meets the Marketing Mavens

179

(11)

Valagents: Digital Indentured Servants in the Age of eMoney

190

(7)

Part V eMarketplaces: The New Frontier for Services

197

(45)

Introducing New Financial Products and Services

199

(12)

Now to Approach the eMarketplace Space

211

(12)

The Evolution of eMarketplaces

223

(2)

Opportunities for Financial Institutions in eMarketplaces

225

(4)

Creating a Value Proposition

229

(4)

Developing Centres of Competencies

233

(4)

Selecting the Right Partners and Managing Relationships

237

(3)

Moving into Action

240

(2)

Conclusion: Developing a Twenty-first-century Agenda

242

(3)

Notes

245

(9)

References

254

(2)

Index

256

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