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