THINK Week in Review: The “THINK 18” Edition

Why we talked about the Race to Excellence at THINK 18:  Divine Discontent: Disruption’s Antidote. “In fact, though, consumer expectations are not static: they are, as Bezos’ memorably states, “divinely discontent”. What is amazing today is table stakes tomorrow, and, perhaps surprisingly, that makes for a tremendous business opportunity: if your company is predicated on delivering the best possible experience for consumers, then your company will never achieve its goal.”

Why we talked about Open Banking and Ecosystems at THINK 18: Data Analytics and the death of the Modern Banking Industry. “In the future, consumers will have complete control of their personal identity, and access only those services that enhance their daily lives based on the value transfer provided in exchange for their transaction and behavioral insights. Winning brands will not be segmented based on specific products, but on how much they are trusted on a personal, and emotionally-engaged, level.

It is a future where sectors (retail, hospitality, travel, healthcare, etc.) are a quaintly old-fashioned and irrelevant concept. In the new consumer ecosystem, banks must find their place – before others find it for them.”

Why we focused one half-day on payments: Amazon.com is going all-in on Amazon Pay. "Some SMB merchants may very well add Amazon Pay to their website if the economic incentive is large enough, but we think the bigger challenge for Amazon Pay is on the consumer side – for a consumer who is already an active user of PayPal, why would they switch to Amazon Pay?" Kupferberg says. "The value proposition is simply unclear, and it is notoriously hard to change consumer behavior."

Why we invited Tamara Levitt: How to bring mindfulness to your career. ““Paying attention to our emotions at work doesn’t mean work is a therapy confrontation group from the ’70s where everyone is yelling and screaming and freaking out,” says Weiss. “It means we know what we’re feeling. When we have that knowledge, we can decide how we want to process it and if we want to express it. And if we do want to express it, we can do that intentionally.” (Will review for the THINK Library)

And, one blogger writes: In the Race to Excellence, here's why credit unions may be winning. "THINK18 was full of excellence. Most notable was Chatzky’s interview of Olympian Michael Phelps, who shared personal insight in his journey to excellence. Among many touching moments, Phelps shared insight on his struggles with depression. Melanie Lockert, of the Dear Debt blog, asked for his advice on helping people who are suicidal, as those who die by suicide are eight times more likely to have debt. Phelps responded, “Simply reach out to people who seem depressed, and talk with them. They need to know someone’s there.”"