The Invisible Bank

A Customer-focused Banking Future

How would you feel if a bank said to you, “We want you to stop thinking about us”?

Many people associate banking with confusing email communications, relentless advertising, and paper statements. Most have more important things to do in their lives than making sense of banking products. But what if, banks provided simple financial care? In order to compete in a rapidly changing industry, incumbents must rethink their customer experience, because the future of banking will be one where customers don’t even think about it. It will be invisible.

Financial companies are doing everything they can to draw attention to themselves – with new offers, interest rates, products and services. Yet, as they provide a surplus of options, fintech disruptors are showing that a simpler experience can entice customers away from traditional banks.

If we take the concept of ‘simple’ further, can we imagine an environment where these services just happen, completely removing all pain points?

Ways an invisible banking experience could operate in the future:

THE NEW JOB

It’s your first day on the new job, you’re anxious to prove yourself and want to dig in. Instead of having to fill out forms before a dollar moves and pay cycles line up, your pay simply appears in your bank via direct deposit – no need to enter routing or account numbers.

Pension, or superannuation funds roll over automatically with the invisible bank, selecting the right investments for your life stage and risk appetite. As you learn more, you are prompted to update or change desired options, but your initial level of financial care is covered – and communicated.