ADAM PARTNERS

CONVERSATIONS # 4

In CONVERSATIONS, Uncategorized on July 8, 2011 at 8:59 am
Reaction to Irish banking and financial crises...

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As a matter of course, as the Great Banking Corporations continue to grow larger and larger, both as a result of endless acquisitions and mergers and as a result of the phenomenal rise in computing power and the complete collapse of the costs of data storage, their appetite for revenue becomes more and more frenzied, their management, especially the bean counters become more and more alienated from the real world environment of banking & clients towards an abstract world hitherto only imagined in fiction, a world where the only means of viewing the vast banking operation is through the matrix: through vast networks of income streams and cost analysis, a world where customers do not exist and are never mentioned. In fact, it’s a world where the memory, the understanding that money is brought to the matrix by people called clients, is almost completely forgotten. Income is no longer seen as payment by people for services rather than as something spinned of from revenue streams divided by newer platforms realising anticipatory needs from affluent adopters. In such an abstract world, it’s quite understandable that world banking has had several very weird almost Harry Pottersized  disasters in the recent past.

And its all because of the rise of the machine. Unrivalled computing power makes it possible for inter-continental investment banks to run many variations of their day-to-day operation in a black cloud, testing and experimenting to see which one yields the best results at the day’s end. And the one that supply the most milk by end of day, is the cow of the day – and the fools we as the public are, we are easily parted from our money.
The second factor, is the predictive abilities, and the cybernetic systems, which is not as much predictors of the client’s needs and wants, as espionage facilities that can use systemic discrimination against certain behavioural and statistical tendencies amongst individuals, and that can use number crunching to outline (and yes, red line under black box conditions) groups of people who are treated vastly different from one another, as to maximise the per capita income derived from clients in the “neural system”.
Hence, as the record shows, women paid much more for cars as men, and several finance companies made huge fortunes on the back of the fact that their neural networks predicted that most females has no natural sense of automotive value and were mostly dependant on the advice offered by the sales representative. Due to the control gained by the standardised platform dashboard, the salesmen were dependent on the “system” to draw quotes for these women after their personal details were fed into the system. The sales representatives did not even have to participate in this game of control system deceit and had no knowledge that their wives and girlfriends were paying vastly more than their male counterparts, because the neural network predicted it.
To get back to careful analyses of what Brett King is saying in this context, one has to pursue the following:

“High-net-worth investors are amongst the earliest adopters of technology; they are the most demanding in respect to service; and they are responsible for the highest profit of any customer group within the retail bank.” (BANKING ON THE FUTURE, P.19)
In “Old-speak” this means that the bank will maximise its profits if it engages something like the 80-20 principle. First, they need methods to seek out the rich – HNWI in Newspeak, and this has to be done quickly, immediately and on site, seeing that no personal relationships are any longer tolerated by the bank between employees and the customers, and hence, no one that walks into a bank knows or is known on any personal level, by anyone there. Banking has become the unknown engaging the rotation. This helps the bank because it prevents their personnel becoming bogged down by the unethical and downright immorality of a great many standard banking practises.Hence, they need to identify the HNWI as they enter the branch, because this is no longer a service centre. It has now become the palace of hard sales. Identify the wealthy, and sell, sell, sell.
Increasingly HNWI’s are highly mobile, are time-poor, and require their bank to be able to respond in real-time to their needs. It sounds very much like they need a much more integrated, connected banking experience today where the bank really is about anticipating their needs before they happen. (BANKING ON THE FUTURE, P19)
If we cut to the chase, the bankers are actually saying the following: we need to land this sucker within 10 minutes after he walks into the bank. We need to figure out who the hell he is, what he’s got, and what he wants, or at least, what we want him to want, and then we need to manipulate the environment to such an extent that he is forced through the lines of have-nots, such as not to infuriate him to the degree that he no longer wants to buy all the products we can create because he had to wait so long or was so uncomfortable.

If you imagine a McDonald’s outlet with the capability to measure your weight as you enter, then calculate the statistical probability – – what someone with that bodyweight dressed in the manner you are, will eat, and then peeping into your wallet to see what denomination notes and change is available, before you get to the counter to order. And then based on this information, the menus are quickly changed, digitally, to cater specifically for the sale they plan to make with you: and they offer you a meal, in line with your statistics, that cost exactly as much as the largest banknote in your purse. Sorry, no change is available for a smaller meal. This if you start getting hot under the collar, is an indication of the banking ideal.
The challenge for banks these days is to know which customers are the most important as they walk in the branch. Today we don’t know who you are until you identify yourself — and if you’ve been standing in a line for 20 minutes waiting to speak to someone, you may not be in the mood to engage in a conversation that is about deepening your relationship with the bank.
(Banking on the future, P 21)

And this is of course, why they are now employing these intrusive mental robotics, the neural networks, that follow you, wherever you go, making small notes, writing it all down, and adding it all to the identity they are building you, and which identity will become your prison later on.

To be continued in Conversations 5

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