Revolut Secures Its Banking License – Crowning A Decade Of Digital Banks
Forrester eCommerce
JULY 25, 2024
Digital banks are gaining traction among consumers, globally. Learn what incumbent banks should do to compete.
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Forrester eCommerce
JULY 25, 2024
Digital banks are gaining traction among consumers, globally. Learn what incumbent banks should do to compete.
Forrester eCommerce
SEPTEMBER 30, 2024
In the rapidly evolving financial landscape, banks are facing challenges that require them to adapt and innovate. Trust is the foundation upon which successful banking relationships are built, and it will continue to be a crucial factor in shaping the future of the industry. […]
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Forrester eCommerce
SEPTEMBER 14, 2023
Open banking is imminent in the US, and banks must prepare now to be ready for the CFPB's Personal Financial Data Rights rule.
Forrester eCommerce
JUNE 17, 2024
Well, that’s how legacy, monolithic banking systems are: inflexible, siloed, and product-centric; closed, batch-based, unintelligent, and security-challenged — relics of a bygone era. Now, dramatically change their environment. Sounds like a recipe for extinction, right?
Forrester eCommerce
OCTOBER 31, 2024
Forrester recently evaluated mobile banking apps in Canada and the US in our latest Digital Experience Review™ (DXR). It shows that: Banks’ apps are barely keeping up with customers’ needs and expectations. Mobile banking usage is rising and evolving, and the pace of change has been accelerating since 2020.
Forrester eCommerce
SEPTEMBER 11, 2024
To gauge the ease and effectiveness of mobile banking experiences, Forrester evaluated the smartphone apps of the “big four” Australian banks.
Forrester eCommerce
SEPTEMBER 20, 2024
Forrester just published The European Net Promoter Rankings, 2024 with Net Promoter Scores℠ (NPS) for 60 banks across France, Germany, Italy, Spain, Sweden, the UK, Poland and the Netherlands.
Forrester eCommerce
OCTOBER 3, 2023
Mobile banking matters more than ever in the US and Canada. Online banking usage is trending down as mobile banking usage and engagement continue to rise. In mobile banking channels, customers demand a widening set of features and services — and these mobile experiences have a major impact on brand perceptions and preferences.
Forrester eCommerce
SEPTEMBER 30, 2024
Once again, the banking industry is on the cusp of transformative changes. But they also have the potential to shift the mindset of banking from a product-centric to a relationship-centric approach and earn greater […]
Forrester eCommerce
JULY 11, 2024
Explore Forrester’s digital banking processing platforms landscape report, highlighting 26 vendors and the transformative potential of these modern core banking systems for enhanced customer experiences and operational efficiency.
Forrester eCommerce
SEPTEMBER 4, 2024
In 2024, European banks joined other regions and industries to see a significant drop – a worrying sign with grave business implications.
Forrester eCommerce
SEPTEMBER 12, 2024
Read this report to understand where European banks’ mobile banking apps excel, where they fall short, and how to strengthen your own apps.
Forrester eCommerce
NOVEMBER 1, 2023
The year ahead may be relatively uneventful for the banking industry — but don’t count it out. Here are a few of the key trends to look out for.
Forrester eCommerce
FEBRUARY 25, 2021
Digital transformation is coming to Corporate Banking. Corporate banking today is antiquated due to its highly customized and complex product offerings; lack of challengers to drive innovation; and strong barriers to switching for clients. Enterprise clients have lived with a sub-par experience for far too long.
Forrester eCommerce
JUNE 11, 2024
While Money20/20 Europe had a number themes this year – including "A Customer Universe Of One" and "The Business Of Money" – AI and open banking payments did really steal the show.
Forrester eCommerce
SEPTEMBER 27, 2023
India is emerging as a powerhouse in mobile banking adoption. According to Forrester’s Asia Pacific Consumer Survey, 2023, a staggering 87% of online Indian adults expressed their desire to do all their banking on a smartphone. This statistic marks the highest percentage among the countries surveyed in the Asia Pacific region.
Forrester eCommerce
OCTOBER 8, 2024
In an era, where people have started doing everything on their phone: is your bank’s mobile app evolving at the pace of your customers’ expectations? Our latest Digital Experience Review of Indian mobile banking apps is just out. It reveals a landscape ripe with innovation yet marked by notable gaps in customer experience (CX).
Forrester eCommerce
JUNE 21, 2022
Mobile banking apps are a crucial component of the overall banking experience. To identify mobile banking best practices, we reviewed the mobile apps of 13 EMEA banking brands in March and April of 2022 for both functionality and user experience.
Forrester eCommerce
APRIL 22, 2021
Significant gaps continue to exist in private banking, forcing firms to rethink pricing and organizational models. As a result, high-net-worth clients are not fully benefiting from some of the digital innovations that are changing how customers interact with their private banks.
Forrester eCommerce
FEBRUARY 21, 2023
Over three quarters of banks are increasing their spending on emerging technologies, creating the potential for hype and fear of missing out. Forrester identified nine emerging technologies that should be on the list of every bank, either now or later.
Forrester eCommerce
JULY 29, 2020
Forrester’s view on the future of banking is here – examining the changes that we expect to play out over the next decade of retail banking. The drivers of the future are evolutions of the past – some playing out now, others that will be far more prominent by 2025 and table stakes by 2030. […].
Forrester eCommerce
OCTOBER 23, 2024
Banks need to get ready for a major challenge in 2025: a simultaneous decline in customer experience and worsening profitability. But fear not, because there is a solution to this double whammy: innovation.
Forrester eCommerce
SEPTEMBER 26, 2023
Our annual CX Index benchmarking study conducted in Malaysia since 2021 answers the question, “Which banks in Malaysia provide the best customer […]
Forrester eCommerce
FEBRUARY 9, 2023
India’s central bank, Reserve Bank of India (RBI), is now focusing on Central Bank Digital Currency (CBDC). The world of money is changing, and India has made impressive progress toward innovations in digital payments. Things have been a little hazy around the use of cryptocurrencies in India.
Forrester eCommerce
MARCH 28, 2023
The banking crisis will send ripples through the tech industry and budgets, which have already been weakened by layoffs in the first quarter of 2023.
Forrester eCommerce
OCTOBER 30, 2023
Recently, the Reserve Bank of India (RBI) has imposed a ban on Bank of Baroda’s mobile banking app – BoB World. But why did this happen, and what can we learn from it? Let us dive into the details. This unsettling issue involved a series of actions which led to fraudulent actions by some of […]
Forrester eCommerce
MAY 11, 2024
Today’s Indian customers are finding that their mobile banking apps are lagging behind digital trends. Banks must go beyond and be bold in […] Customers always want an experience better than the last one – and digital leaders need to understand that to stay relevant. And they might not wait around until the apps catch up.
Forrester eCommerce
NOVEMBER 7, 2022
Functionality in retail and corporate banking is not highly differentiating anymore. In the future, only those that can support partner solutions in their ecosystem seamlessly can fully cope with banking industry's expanding requirements.
Forrester eCommerce
JULY 26, 2023
Corporates source these cash management services from their corporate banking partners. Banks on the other […] In such an environment, it is imperative that they manage their cash flows well to finance their growth ambitions and mitigate financial risks.
Forrester eCommerce
APRIL 15, 2020
As Australian banking leaders roll out initiatives to help consumers and small business owners cope with the fallout from the coronavirus, they also face an impending deadline: to make consumer data available by July this year. Although open banking was announced two years ago, most Australian banks […].
Retail TouchPoints
FEBRUARY 15, 2024
Starbucks and Bank of America (BoA) have forged a new partnership designed to offer extra rewards to their most loyal customers. can link eligible accounts to earn 2% cash back from Bank of America (on top of the rewards and benefits they already earn on qualifying purchases) and one Star for every $2 spent at Starbucks.
Forrester eCommerce
DECEMBER 8, 2020
In a landmark announcement made on December 4, 2020 Singapore’s Monetary Authority (MAS) awarded banking licenses to four players, two of which will serve the retail banking market using a digital full bank license (DFB). known for […].
Forrester eCommerce
APRIL 23, 2020
What do consumers expect from their banks in response to the COVID-19 pandemic? We interviewed 40 customers of 14 banks to find out. We also asked them what they think of how their banks are handling the crisis so far. Their responses show that many banks are missing the mark by making COVID-19 content hard […].
Forrester eCommerce
AUGUST 5, 2020
As discussed in Forrester’s recent research on the future of banking, success for many banks will come from powering products and distributing through others’ marketplaces. Late last year, I blogged about Google’s move into banking and […]. And Google is now moving ahead with its plan to launch one of those marketplaces.
Forrester eCommerce
NOVEMBER 2, 2021
To compete and survive in an increasingly unpredictable, post-pandemic world, banks will invest heavily in technology, talent, and sustainability in the coming year.
Forrester eCommerce
AUGUST 7, 2020
A few days ago, I discussed application architecture in banking with a banking software vendor. Starting from there, we had a look at that vendor’s core banking solutions and further back-end systems such as trade finance. The vendor quickly suggested that its solutions align with Forrester’s concept of a lean core.
Forrester eCommerce
FEBRUARY 9, 2023
It’s no secret that in today’s business climate, corporate banks are feeling the squeeze. Now is the time when corporate banks change the way they serve clients. They struggle with an installed base of pre-modern applications and archaic processes.
Forrester eCommerce
DECEMBER 18, 2023
Customers in France, Italy, Spain, in the UK generally rate their trust towards their bank as "weak" or - at best - moderate.
Forrester eCommerce
MARCH 31, 2021
In our 2020 European Banking Customer Experience Index (CX Index™), mutuals and direct banks outperformed traditional banks in terms of CX in the UK, France, Italy, and Spain. Because mutuals and direct banks excel at the three E’s of customer experience: ease, effectiveness, and emotion. But they do it differently.
Forrester eCommerce
JULY 30, 2020
Leading banks are pivoting and rebooting their strategy — capitalizing on the pace of change and innovation and setting their course for the next decade. By 2030, banking will be invisible, connected, insights-driven, and purposeful.
Forrester eCommerce
JULY 15, 2020
How we bank has also changed dramatically. It’s mid-July 2020, and the world is a very different place than it was six and a half months ago! Just think of the ways we now interact with each other, carry out our daily activities, and buy and pay for products and services. With social distancing rules and […].
Forrester eCommerce
JULY 25, 2022
When a customer opens a mobile banking app, they are usually trying to complete a specific task: paying a bill, seeing how much money they have left for the month, finding a recent transaction, requesting money from a friend, etc. But banking customers increasingly want more and better features on these apps.
Forrester eCommerce
SEPTEMBER 27, 2023
India is emerging as a powerhouse in mobile banking adoption. According to Forrester’s Consumer Asia Pacific Survey, 2023, a staggering 87% of online Indian adults expressed their desire to do all their banking on a smartphone. This statistic marks the highest percentage among the countries surveyed in the Asia Pacific region.
Forrester eCommerce
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, whilst Revolut has almost tripled its customers to 2.8 million in a year.
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