banking industry

Banking

The banking industry is opening up — literally. Whether through regulation or market forces, open banking is now a reality. Banks face many challenges: declining customer loyalty, an emergent fintech class, and commerce platforms that continue to inch toward providing financial services. The tried-and-true banking business model is fracturing, and strategic decisions loom.

banking industry

Banking Solutions

The Future Of Digital Banking

Traditional competitive and industry lines are fading into the background as fintech providers and commerce platforms offer a greater array of banking services. Fintech represents both risk and opportunity: the risk that fintech providers will poach margin-rich or relationship-oriented business and the opportunity to partner with or buy those companies that have a more natural mindset to innovate. Like any startup community, the fintech market can be volatile. Some will evolve gracefully, some will crash, some will soar, and some will be acquired and be a new strategic threat to you. On the other hand, commerce platforms can scale — rapidly. You will need to be digitally astute and nimble to win in a market that is often digital-first.

Learn More

Growth In A Customer-Led Market

2017 and 2018 CX Index results show that the banking industry is struggling to create and maintain a human connection with customers. If customer loyalty is an economic engine, that engine is sputtering. This erosion of loyalty is happening while fintech providers and commerce platforms move more aggressively into banking services. Banks need to embrace open banking, unleashing the power of data and scale. But job No. 1 is to rebuild the relationship with customers.

Learn More

Real-Time CX

It’s a reality. Discover the new FeedbackNow.

Digital Financial Services In Asia Pacific

Understand your empowered customer and navigate the future financial services ecosystem.

Banking Insights

VIDEO

Customers Don't Think Bank Experiences Are Improving

Customers aren't impressed by banking experiences. Learn why.
Watch Now
BLOG

Virtual Banks In Hong Kong Are Set To Rekindle The Retail Banking Experience

Eight more digital-only banks are set to launch in Hong Kong by the end of 2020. Find out what sets them apart and what incumbent banks must do to compete in the region.
Read More

Our Banking Team

Zhi Ying Barry

Zhi-Ying Barry

Senior Analyst

Jacob Morgan

Senior Analyst

Huard Smith

Vice President, Principal Consultant

Sustained Growth Depends On Loyalty — Get The Guide

Forrester’s CX Index results show a bleak outlook: Customers see the utility that many brands have to offer, but most don’t feel rewarded for their loyalty.

Download our complimentary guide to understand what the CX Index results reveal about how well you are connecting with customers.

Thank you!

Download the Report

Ready to talk? Give us a call, or get in touch with us about becoming a client.
+44 (0) 2073 237741 (Europe)
+1 615-395-3401 (United States)
+65 6426 7006 (Asia)