The Black Mirror Effect in Banking

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Watching TV series has ingrained into our DNA; the type or genre doesn’t matter. Especially, as the number of platforms that facilitate access to TV series, the number of those who talk about this subject is also increasing. Everyone is asking each other which series they have started to watch. I recently had the opportunity to watch the much-praised Black Mirror series from beginning to end which I had missed out for some time, and I must say it’s very intriguing. However, the series was not that gripping for me, and the reason for that was my desire to take notes every 5 minutes. In brief, for those who don’t know, it is a British mini series featuring the genres of science fiction, drama, suspense, mystery, comedy, and horror, that you can analyze each episode, and be amazed at the end of each episode. I can say that it is a real black work which the basic approach is based on dystopia.

So what would happen if a Black Mirror episode only about banking was shot? Everyone’s dystopia is different, in my eyes it would be like this:

  • Experience is the most important subject of the new era. We will talk about experience management, not digitalization. Forget about the mobile banking application which we believe that currently offers the best experience. Furthermore, there is no need to do banking with wearable glasses and watches. Now, you will be able to turn the contact lenses on your eyes into a place where you can perform all your banking transactions, by converting any surface you look at into a screen. Moreover, many gestures you do with your finger by pulling right or left will be done on any surface. You will be able to send money by selecting a friend and dropping the money on him/her. We are talking about a world where there are no phones.

• Now, you no longer have to check the availability of your customer representative. They will be instantly with you when you call. And not only as video chat; if you say that I’m old-fashioned, I want to talk face to face, your banking representative, of which the chatbot version is updated every month, will be at your house to make your money more valuable for an annual fee of 499 TL.

• Are you not happy with your banker? All you have to do is to give a low rating on the app store. The performance of your banker will not be determined by how much he/she sells, but his/her rating on social media and app stores. Perhaps, psychological rewarding will be the expansion of social media in all sectors.

• When it comes to money, security is the first thing that comes to mind. Now the primary concern is not a virus infecting your computer. Bee-sized drones may be waiting for you around ATM’s or different places to steal your information. Perhaps, the new hackers will be AI-based drones.

• You don’t have to shop to earn bonus. You can earn bonus by looking around at the stores you visit. Augmented reality has reached another level with Pokemon Go. In this new world, picking up opportunities by eyes is quite possible.

I don’t want to give out more spoilers for those who haven’t watched the series. Maybe you liked some of the things you’ve heard, and believe me, some gives even me the creeps. Although 2017 is still early to see these, we are going towards that point at a quick pace. 2016 was a year mobile was talked about; 2017 will be a year that experiences will be talked about more than platforms. On Black Mirror, you can find hundreds of points on this subject that will make you think about.

Mox Bank CEO and Board of Director

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