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Apple’s Partnership With Goldman Sachs Will Drive Seismic Shifts In The Banking Industry

Alyson Clarke March 26, 2019
Apple and Goldman Sachs are partnering to deliver a new credit card. The industry seems to be quick to dismiss the partnership, especially the rewards program — but we think they’re missing the bigger picture. There’s an awful lot more at stake here than credit card rewards. The bigger concern for digital banks, traditional banks, […]
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Small Business Banking Has Been Disrupted (And There’s No Going Back)

Peter Wannemacher February 19, 2019
Bankers around the world are rightly worried about the threats posed by digital disruptors getting in between them and their retail banking customers. But Forrester’s newest research reveals that executives should be just as worried — perhaps even more worried — about another market that is being upended: small business banking. Small- and medium-sized businesses […]
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Forrester’s Global Financial Services Architecture Online Survey

Luis Deya January 16, 2019
We’ve Kicked Off Some New Research, And We Need Your Help.  An important part of Forrester’s research process is gathering input from financial services companies so that we can advise our clients on the latest trends in the market. We’re currently fielding a survey for vendors, end users, and experts that will provide the key […]
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PODCAST

A Seat At The Table: How CX Leader Navy Federal Builds A Culture Of Member Obsession

What It Means December 6, 2018
For three years running, Navy Federal Credit Union has been the top-ranked multichannel bank in Forrester’s CX Index. In this podcast episode, Navy Federal’s SVP Pam Piligian explains the customer experience strategy that drives the bank’s member obsession. 
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Competition Heats Up In Banking Transformation Services

Oliwia Berdak December 4, 2018
After a few quiet years, Thought Machine, the fintech behind a new core banking platform called Vault, is stealing the limelight, first with its announcement of a strategic partnership with Lloyds Banking Group, then with a similar partnership with the digital bank Atom. And today we’ve learned about another partnership, this time with IBM. We […]
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Predictions 2019: Financial Services Firms Shift Their Focus To Operational Efficiency

Benjamin Ensor November 7, 2018
In the decade since the global financial crisis, much of the financial services industry has made a strong recovery. While many governments are still nursing large debts, most banks, investment management firms, and insurance companies have long since returned to good health. Growing economies, rising interest rates, and increased trading activity have delivered strong earnings […]
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The Forrester Banking Wave™: Global Mobile Apps Summary, 2018 — BBVA Offers World-Class Mobile Banking Services

Aurelie L'Hostis September 28, 2018
Digital banks are not eating the incumbent banks’ lunch (yet!), but they’re certainly demonstrating voracious appetite. In the UK, Monzo recently hit the one-million-customer mark, while Revolut has almost tripled its customers to 2.8 million in a year. Lifestyle app Alipay, the digital wallet and payments solution operated by Ant Financial, now has 700 million […]
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Wanted: Fintech Expert

Oliwia Berdak September 19, 2018
Financial services firms are on the hunt. They’re hunting unicorns. As firms like Revolut and TransferWise attain valuations of $1 billion or more, the pressure to find the Stripes of this world before their value skyrockets has never been stronger. But it’s not just the unicorns that firms are hunting. They’re also chasing the wolpertinger. […]
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Customer Experience Index Reveals Brands Lack Human Connection

Victor Milligan September 5, 2018
Forrester’s 2018 Customer Experience Index (CX Index™) results continue to show that companies are struggling to create and sustain a human connection with their customers. This is not a question of delighting customers as an endgame or some fluffy sense of emotional attachment; this is a crass and clear story of financial risk. Taking a step […]
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Banking CX Is Stagnating

Alyson Clarke June 19, 2018
Customer experience leaders grow revenue faster than CX laggards, drive higher brand preference, and can charge more for their products. Based on a survey of more than 110,000 US adult customers in 2018, Forrester’s Customer Experience Index (CX Index™) methodology measures how well a brand’s customer experience strengthens the loyalty of its customers so that […]
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How USAA Differentiates In Mobile Banking

James L. McQuivey May 31, 2018
Take another not-so-random walk with me, this time as my colleague Peter Wannemacher and I explore what makes USAA a standout performer in our Mobile Banking Benchmark assessment. As we did before when exploring The Home Depot’s success in our “The Forrester Retail Wave: US Mobile Web, Q4 2017” report, we invited executives from USAA […]
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PODCAST

USAA: Excellence In Mobile Banking

What It Means May 31, 2018
Forrester Vice President and Principal Analyst James McQuivey interviews two USAA employees — Christy Rogers, VP of digital strategy and content operations, and Shauna Brown, AVP of bank digital channels — on USAA’s success in mobile banking.
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Countdown To Forrester’s 10th Annual CXNYC Forum June 19–20

Harley Manning May 18, 2018
Back in 2009, Forrester launched its first customer experience forum. We picked New York as the location because for years we’d put on a financial services event there, and we knew that our attendees from the banking, brokerage, and insurance industries all had CX on their minds. We didn’t know how well the new event […]
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Open Banking And PSD2 — The First 100 Days Have Been A Slow, Fragmented Start

Jacob Morgan April 25, 2018
TL;DR: It has been a slow, fragmented start to open banking, but the pace will accelerate. Fintechs are forging ahead with innovation, and a new set of intermediary service providers is growing. Banks need to become outside-in fast to thrive with open banking, building operating model competence for an externally oriented business. Few Banks Place […]
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Bank Of America Lowers Security, Removes One-Time Passwords At Payee Add/Change

Andras Cser April 24, 2018
With the latest change to the BofA online banking bill pay service (which added all sorts of unnecessary and distracting icons and ugly fonts), the bank decided to remove the one-time password two-factor authentication (OTP 2FA) requirement to force the customer to perform a one-time password-based step-up authentication before allowing the change. Instead, by default, […]
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Amazon Flirts With Banks And Their Customers: Here’s What You Should Do

Peter Wannemacher April 3, 2018
Like a football team captain at a junior high dance, Amazon just sauntered up to a big group of people and started dropping hints about its sweet moves on the dance floor . . . Okay, that’s not exactly what’s happening here, but it sure felt like that to many bank executives who heard the […]
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How To Ride The Technology Wave (And Not Get Swept Away)

Oliwia Berdak March 29, 2018
AI, blockchain, chatbot, digital identity, etc. — there’s enough emerging technology in financial services to fill a whole alphabet book. And it’s difficult not to get swept off your feet by visions of bionic men, self-executing smart contracts, and virtual assistants that anticipate our every need. Investing in emerging technology is one of the main […]
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The Fintech Industry Has Grown Up

Oliwia Berdak March 12, 2018
Having trekked between the ExCel convention center and central London for most of last week – Finovate Europe moved to this larger and more remote location from the historical Old Billingsgate Hall this year – I can’t help but think that the changed location and format of the event reflect the wider changes happening in […]
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Who Currently Offers The Best Online Banking Services in Europe?

Aurelie L'Hostis December 13, 2017
Online banking is currently the most frequently used banking touchpoint in Europe, with 70% of European online adults now using online banking on a desktop or laptop at least once a month.[i] Most people use online banking for routine tasks such as checking their transaction history, transferring money between accounts, and paying bills. But online […]
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The US Banking Customer Experience Index, 2017

Dylan Czarnecki October 16, 2017
In this year’s Customer Experience Index, Forrester ranked and measured CX quality of 28 US direct and traditional retail banks brands. The research is based on Forrester’s CX Index methodology, which measures how well a brand’s CX strengthens the loyalty of its customers. After analyzing the new data, we found that two stalwarts of CX […]
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