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Digital Human Book : Banking for Humanity

David Ramakers

David Ramakers

6 min read

DynaFin was recently present at The Banking Scene 2019.

One of the 2 major items tackled was the topic “Banking For Humanity”. In fact, to live up to customer and societal expectations, banks need to embrace new technologies. But just being digital isn’t good enough. Consumers expect a personal service, a human touch and relevance. Choosing the right path to sustainable relationships is essential. On top of that, banks need to aim for so called Financial Inclusion, providing access to financial services to everyone and especially the poor. One of the global experts in this area is Chris Skinner, who wrote a book on this theme, called “Digital Human”.

ABSTRACT Summary of the Book

We are in the fourth age of humanity.  The first phase was becoming human, as homo sapiens created language and beliefs.  The second was becoming civilized, when we created money; and the third was becoming commercial, when we created banks during the industrial revolution. In this fourth age of humanity, technology is proving to be so pervasive in our lives that we are changing behaviors and becoming digital humans.  The way digital humans relate to each other is a revolution. It is changing the way in which we talk, trade and transact and changing the way in which we make business, make friends and make love. This book explores the way in which human and business relationships are changing in this digital age, and provides clear lessons in how to evolve existing businesses to be digital businesses relating to their digital human customers. Specifically, Digital Human explores what the fourth age of humanity means for business, banking, society and government.

The themes explored include how bitcoin and the network are altering and challenging government and control mechanisms; the rise of global digital giants, and how the Chinese giants are far more imaginative than their American counterparts; the rise of the most fundamental innovations being notable in Sub-Saharan Africa, the Philippines and other emerging markets, and how these markets will educate those of Europe and America over time; and the challenge to govern a globalized world when we live in nation states.

The book concludes with the world’s first in-depth English case study of Ant Financial and Alipay, the largest payments processing company on Earth. The company has a stated ambition of bringing onboard all of those people excluded from financial services today. That’s two-thirds of the world’s population, around 4.5 billion people. This is the core of the change we are seeing in the Digital Human age: that everyone can be included in a network thanks to low-cost mobile coverage. As a result, everyone on the planet can not only talk, trade and transact digitally, but they can be raised out of poverty through inclusion.

CONTENTS of the Book

  • The revolutions of Humanity: Digital Humans and the evolution of the Digital Age
  • The rise of platforms and marketplaces
  • The rise of robots
  • The rise of a new financial structure (FINTECH)
  • The fall of banks
  • A glimpse of the Future of banking
  • Case Studies on Ant Financial & AliPay
David Ramakers

David Ramakers