Law of Alignment- Influence On Banking Sector?

Could The New Economy, 3rd Paradigm Entrepreneur Be Leading The Way?

Jennie Armato is The 3rd Paradigm Entreprenenur in the new economy

 
The world and the world of business has changed forever!  Each one of us 3rd Paradigm, Enlightened Entrepreneurs are recreating and realigning our personal and professional future economic structures and models, impacting the broader economic structures of how business is done in this new world. 
 
Is it possible to influence the restructure through realignment of the banking sector too?
 
The new economy is made up of many ultra small businesses, organized in powerful networks (many that you and I belong to) and what makes them powerful is our ability to transcend the old economy model of ‘doing it all’ and moving to shared responsibility, collaboration, leverage and business growth with ease. The “banks” that will thrive in this paradigm alongside us will align with that same concept and mirror their customer base and how we operate in this new structure and system of exchange and support too.
 
They will have to learn how to apply conventional rules in the network context of this new economy – where supporting each other’s business is the foundation of successful value exchange. The good news for them and us is this will enable them to keep their costs low, their ROI high and will enable them to align better to those they serve (us).
 
The 3rd Paradigm Entrepreneur - Networks play a strong part
 
[In the past], sound banking was aligned to its customers by scale and by model, inclucing local connection and support.

This alignment or realignment is a key element as we look into the future – the invisible bank just does not ‘cut it’ anymore.

Most banking customers are small and personal. About three quarters of all U.S. business firms have no payroll. Most are self-employed persons operating unincorporated businesses, and may or may not be the owner’s principal source of income.

Their banker has to be aligned to this reality.

A person can only have a relationship with another person. What people need is not more services and products but rather, care and personalized attention. They need a person who serves their interests and so serves their own and their bank’s too.

Banking customers will be many tiny nodes aggregated into networks. This is the new market.

So if this new economy marketplace is founded on the abolition of hierarchies and moreso about networks – then so must banking be the same.

It must itself be a fractal mirror of this. It too must be made up of small local nodes that are similar in scale to the nodes of the networks where the power lies in the future.

A major part of the new economy customer is the health of our networks. This was true in the past for banks too but not true for many banks now. (They operate in a disconnected, paralell universe to the realities of most entpreneurs of today.’

The connectivity, support and power of the networks of our banking institutions will play a part in their relevance and value to us in this new economy. WE ALREADY KNOW how to add relevant value and we also know how we need to be served … by the banks particularly.

The Twist – Could our networks lead the institutions to realign to our needs? What a refreshing and exciting (and empowering) twist that would be.

The Law of Alignment by Jennie Armato

(Slightly modified extract from a great article on:
http://queenstreetcommons.org/2011/11/20/the-coming-revolution-in-banking/)

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