"Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking" by Brett King is a comprehensive exploration of how technology and changing consumer behavior are transforming the financial industry. The book delves into the history of lending, highlighting how ancient Mesopotamian merchants used silver and barley as currencies, and contrasts this with the current landscape, where lending has become widespread and often burdened by high default rates, as seen in the 2008 financial crisis. King introduces innovative solutions such as Lending Club and Zopa, which leverage technology to offer more transparent and efficient lending options, achieving significantly lower default rates compared to traditional banks. He also discusses companies like Lenddo, which use community vouching systems to provide financial services to underserved populations. The book emphasizes the shift towards frictionless payments, exemplified by the seamless transactions of platforms like Uber. It highlights the importance of automation, real-time decision-making and the integration of community and social media in building trust and engagement. Finally, King argues that banks must adapt to a future where technology is the key enabler or risk becoming obsolete in a rapidly evolving market.

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