banking

Privacy regulations can seem like a hassle. But if you want to grow customer affinity, privacy can be a strategic strength. Lloyds Banking Group Experience Strategist Laurent Christoph and Forrester VP and Principal Analyst Fatemeh Khatibloo explain how Lloyds uses privacy as a differentiator.

The closure of Finn does bring up some important lessons for other digital bank startups or digital offshoots of the major bank brands.

If you’re a fan of the old TV show “Happy Days,” you know Fonzie and Potsie. If you don’t know the show, here’s a quick sum-up of the two characters: Both were good dudes, but while one (Potsie) managed to, at best, fit in with the crowd, the other (Fonzie, also known as “The Fonz”) […]

I have recently released a new report looking at the second phase of the Payment Services Directive (PSD2) and its security requirements along with my colleagues Jacob Morgan and Andras Cser. Banks and financial institutions are currently hard at work building APIs and testing their Strong Customer Authentication (SCA) solutions. Banks need to comply with […]

Mobile apps have become the touchpoint of choice for millions of people to manage their finances, and Forrester regularly reviews those of leading banks. We just published our latest evaluations of the apps of the big five Canadian banks: BMO, CIBC, RBC, Scotiabank, and TD Canada Trust. Overall, they’ve raised the bar, striking a good […]

On April 18th, T-Mobile officially launched its T-Mobile MONEY checking account, after a soft launch late last year. This is not the first time we’ve seen a telecommunications firm enter the banking space – it’s already been happening for years in Europe and Asia, with large telcos such as Orange and KDDI. And this isn’t T-mobile’s first foray into banking either. So should banks be worried? Watch below to learn more.

Apple and Goldman Sachs are partnering to deliver a new credit card. The industry seems to be quick to dismiss the partnership . . . but there’s an awful lot more at stake here than credit card rewards.

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 […]

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 […]

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. 

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

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.

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 […]