banking

Banks face many challenges: declining customer loyalty, an emergent fintech class, and commerce platforms that continue to inch toward providing financial services. Read our insights on how the banking industry is changing and how banks can transform and thrive amid unprecedented disruption.

Insights

VIDEO

Kicking Off Our New Research On Autonomous Finance: FORR/3 Video

Peter Wannemacher September 6, 2019
Forrester has recently kicked off some new research focusing on services and companies that make financial decisions and take action on behalf of consumers. You can take a very short survey on this topic here. I’m psyched to present here our first FORR/3 video episode on this topic (see below)! In it, Oliwia Berdak and […]
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Temenos Acquires Kony — Two Leaders Unite

Jost Hoppermann August 29, 2019
Yesterday, Temenos announced its acquisition of US vendor Kony. Both Kony and Temenos are Leaders in the recent “The Forrester Wave™: Digital Banking Engagement Platforms, Q3 2019.” This acquisition adds Kony Quantum, a low-code development platform, and Kony DBX to Temenos’ digital front-end product portfolio. Kony DBX is a digital banking engagement platform (DBEP), a […]
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The Banking Business Model Is Fracturing

Whether it's the future of digital banking or trying to grow in a customer-led market, strategic decisions loom for banks.

VIDEO

Hong Kong Banks Must Raise The Bar In Mobile Banking

Meng Liu August 28, 2019
For the first time, Forrester has evaluated banks in Hong Kong, the famous world finance hub. We benchmarked the usability and functionality of the mobile apps of five banks in Hong Kong.
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BLOG

Digitally Evolving Customer Mindsets Will Reshape India’s Financial Services Landscape

Arnav Gupta August 22, 2019
Read four findings from a recent survey of 3,000 online adults in India.
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VIDEO

Apple Card Will Be Popular — Here’s Why

Alyson Clarke August 7, 2019
Apple Card has the right mix of benefits to entice consumers. Learn why.
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BLOG

Why Temenos’ Acquisition Of A Small AI Software Vendor Is Relevant Beyond The Size Of Its Business

Jost Hoppermann July 17, 2019
Temenos has announced that it has acquired Logical Glue, a small vendor of financial-services-specific AI software covering use cases like credit scoring and underwriting. While Logical Glue has been successful on its own, Temenos has not acquired the firm because of the size of its business: Temenos is positioning the acquired software capabilities as an […]
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PODCAST

How Lloyds Uses Privacy As A Differentiator

What It Means June 20, 2019
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.
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Lackluster CX & The Risk For Banks

CX Index results show banking CX is stagnating.

VIDEO

Chase Closes Finn: Lessons For Other Digital Banks

Alyson Clarke June 10, 2019
The closure of Finn does bring up some important lessons for other digital bank startups or digital offshoots of the major bank brands.
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Is Your Bank’s Mobile App A Fonzie Or A Potsie?

Peter Wannemacher June 4, 2019
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”) […]
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BLOG

PSD2 Security Requirements Are Restricting Fintech Innovation

Paul McKay May 30, 2019
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 […]
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BLOG

The Good, The Bad, & The Ugly Of Canadian Mobile Banking Experiences In 2019

Gina Bhawalkar May 15, 2019
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 […]
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VIDEO

T-Mobile MONEY’s Checking Account: Game Changer?

Alyson Clarke May 3, 2019
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.
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BLOG

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 . . . but there’s an awful lot more at stake here than credit card rewards.
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BLOG

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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BLOG

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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BLOG

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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BLOG

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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BLOG

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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BLOG

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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