Pandemic drives over half of consumers to shop more locally; bank data key in enabling SMEs to compete with big businesses

Retail Technology Review

That’s according to new research released by Pollinate, the global software business that partners with banks to help them deepen and extend relationships with their business customers, in which over 4,500 consumers were surveyed across the UK, US, Australia, and Brazil. Over half of consumers globally (53%) believe it is more important to shop with local businesses now than it was before the pandemic.

What’s New In EMEA Mobile Banking

Forrester Digital Transformation

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.

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Wise vs Monzo: Which Online Bank Is The Best?

Ecommerce Platforms

Mobile banking and transferring money online have never been more convenient. Two popular online banking and international money transfer services are Wise and Monzo. In contrast, Monzo is a fully-fledged digital bank. Wise vs Monzo: About Monzo Bank.

Banking Functionality Doesn’t Differentiate Banking Software Anymore, But Technology And Ecosystems Do

Forrester Digital Transformation

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.

Qonto Review (Feb 2022): Forward-Thinking Banking

Ecommerce Platforms

In this Qonto review, we’re going to be introducing one of the latest banking tools to hit the market, designed to support modern businesses. If you’re looking for a flexible and transparent banking solution, this challenger from France could be ideal. Articles Banking

Bank of England unveils new £50 note

TalkingRetail

The Bank of England has revealed the design of the new polymer £50 banknote featuring the scientist Alan Turing. This story continues at Bank of England unveils new £50 note. Industry News Bank of England banknotes Cash convenience stores money

Predictions 2022: Banks Will Double Down On Innovation

Forrester Digital Transformation

To compete and survive in an increasingly unpredictable, post-pandemic world, banks will invest heavily in technology, talent, and sustainability in the coming year. Age of the Customer Banking financial services fintech infrastructure & operations predictions

Predictions 2023: Banks Will Batten Down The Hatches But Prepare For The Upturn

Forrester Digital Transformation

Inflation, rising interest rates, and the war in Ukraine are creating a challenging landscape for the banking sector, yet wise firms will invest with the long term in mind. Age of the Customer Banking financial services predictions promoted

CBD Banking and Financing Your CBD Venture: Where are the CBD-Friendly Banks?

BigCommerce

Hemp-derived CBD products: you can’t avoid them anymore. From the CBD edibles at your local pharmacy to the hemp moisturizing… Payments

Mox Bank drives a high-performance operating model to deliver new digital banking experiences in Hong Kong

Forrester Digital Transformation

While the Hong Kong market is mature in terms of traditional banking products, Forrester has found that digital banking’s pre-sale and post-sale journeys there lag those in other advanced economies. Age of the Customer Banking fintech

After Retail Banking Now Banks Must Transform Their Corporate Banking!

Forrester's Customer Insights

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.

Customer Centricity And Personalization In Banking Need Product Externalization

Forrester Digital Transformation

Application architectures in banks cannot afford to treat product-centricity as a stepchild, but need to focus on it as much as on customer-centricity. Product externalization helps banks move in this direction.

What’s New In European Mobile Banking

Forrester Digital Transformation

Forrester reviewed the mobile apps of 13 European banking brands in June and July of 2021 for both functionality and user experience. Age of the Customer Banking Europe mobile technology user experience (UX

Three Features That Will Set Your Mobile Banking App Apart

Forrester Digital Transformation

Forrester has been tracking emerging capabilities, products, services, and features that customers will expect and demand on banks’ apps in the next three years.

Post Office unveils latest additions to banking framework

TalkingRetail

Wealth manager and private bank Coutts has joined the Post Office’s Banking Framework, allowing its customers to use services such as making cash withdrawals, deposits or paying in cheques at any of the Post Office’s 11,500 branches.

The Future Of Banking Has Arrived

Forrester's Customer Insights

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 Future Is Here: Google Moves Forward With Its Banking Marketplace

Forrester's Customer Insights

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 […]. The future is here.

Banks Must Stop Acting Ad-Hoc If They Want To Earn And Keep Customers’ Trust

Forrester Digital Transformation

As custodians and lenders of money, banks cannot exist without their customers' trust. But why do so few banks around the world actually track and measure it? We've examined how banks themselves look at trust, and even more importantly - what they actually do about it.

Banking Software Vendors Won’t Differentiate With Just Functionality For Long

Forrester's Customer Insights

A few days ago, Forrester published two Forrester Waves, one focusing on retail banking, the other on corporate banking. With these Forrester Waves, we separated off-the-shelf banking back ends for retail and corporate banking for the first time.

Physical Banking is Dead — Long Live Physical Banking!

Retail Archives

Physical banking (as in walking into an actual brick-and-mortar branch office and speaking with real people) is going the way of 8 Track Tapes, dial telephones and Dodos. Physical Banking is Dead. The storm clouds gathering on the horizon for physical banking are considerable.

Banks Must Align Strategy And Technology To Succeed With Personalization

Forrester Digital Transformation

Banks need a customer-led strategy to govern cross-functional personalization efforts and to determine the right technology investments. Age of the Customer B2C Marketing Banking customer experience digital business financial services personalization

Success Of New-School Vendors Shows That Lean Core Banking Is Finally Here

Forrester Digital Transformation

Modern banking platforms allow banks to elevate their customer experience and deliver more business value more seamlessly and more effectively. Find out about the key trends in the 2021 banking platform software market.

Monzo Review (Feb 2021): Does This Digital Bank Live Up to The Hype?

Ecommerce Platforms

Mobile banking is the new and improved alternative to challenger banks. With everything digitalized, online banking services provide intuitive money management features from the convenience of your smartphone. We’ve already covered other banks like Revolut.

A Glimpse Into The Future Of Banking

Forrester's Customer Insights

COVID-19 is recasting the foundations of the future of banking and reshaping the digital agenda and priorities for many banks. Alyson Clarke and I have been interviewing financial services experts around the globe as part of our upcoming research report on the future of banking.

The Future Of Banking: Invisible, Connected, Insights-Driven, And Purposeful

Forrester's Customer Insights

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.

Bank Hacking for Store Owners

eCommerceFuel

I’m going down the rabbit hole of banking, lending, and financing with Bill D’Alessandro, founder and CEO at Elements Brands and frequent co-host of this podcast. You’ll learn: The balance of diversifying your banking experience. (6:45). Truist Bank.

Virtual Banks In Hong Kong Are In A Race To Win, Serve, And Retain Customers

Forrester Digital Transformation

In the past three years, eight virtual banks have started operations in Hong Kong and have achieved early results in customer acquisition. Age of the Customer Banking fintech

Building A Private Bank For The Next Generation

Forrester's Customer Insights

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.

UK Banks’ Mobile Apps Have Stalled In Terms of Functionality

Forrester's Customer Insights

Mobile apps have become the main touchpoint of banking relationships for millions of people and the starting point for many financial decisions and activities. Forrester data shows that 53% of UK online adults have done their banking on a mobile website or app in the past month.

Have The Most Remarkable Corporate Banking? Let’s Talk

Forrester Digital Transformation

The digital transformation of retail banking has been ongoing for the last few years. Banks have transformed retail banking to offer enhanced digital experiences, digitize operations, build digital ecosystems, and drive digital innovation.

Retail NI concerned by Bank of Ireland branch closures

TalkingRetail

The Bank of Ireland is to close 15 branches in Northern Ireland, which is more than half of its branches currently operating in the region. Industry News bank closures convenience stores Northern Ireland Retail NI

Mobile Banking Apps Take Center Stage As Australians Embrace Digital Banking

Forrester's Customer Insights

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.

Crypto-Commerce: Banking on Blockchain for B2B Payments

GetElastic

distributed , with records verified by a network of computers versus by one party or bank, and visible to all parties versus held in a central database. Blockchain cuts central banks out of the process, dramatically speeding up settlement.

We Evaluated Banks’ In-App Messaging On COVID-19: Five Brands Stood Out

Forrester's Customer Insights

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.

Co-op brings human banking back to Falkirk town

TalkingRetail

Denny’s Co-op, Falkirk, today (15 December) launches a OneBanks kiosk in-store, giving customers and businesses access to any bank or building society. The kiosk will offer everyday banking from cash withdrawals, deposits, payments, transfers, to support and face to face conversations.

Banks: Your Customers’ Cross-Channel Experiences Are Shoddy (Or Worse)

Forrester Omnichannel

The other day, I stopped by my bank's ATM to get some cash. After entering my card and PIN and while waiting for my money ( during which I was a captive audience ), I was presented with an ad for a new service from the bank. Unfortunately, the ad's call-to-action was a message telling me to call the bank's 1-800 number to find out more. And as a result, the bank also failed to cross-sell me any products or services. banking. cross-channel banking.

The BNPL Opportunity For Banks: How To Tap Into This Growing Market

Forrester Digital Transformation

With a strong presence on major retailers’ websites and increasing brand awareness among consumers, BNPL is receiving growing attention from the world’s top banks, lenders, and credit card providers. Age of the Customer Banking digital business financial services fintech Retail Trends

There’s Still Time for Retail Banks to Get Out Ahead of Open Banking

Retail Archives

Open banking is coming , and its arrival is not a question of if, but when. and savvy banks in the U.S. But for savvy banks that get ahead of the curve, open banking can offer new opportunities to offer seamless customer experiences. banks to prepare for open banking.

Forrester 2018 Mobile Banking Industry Wave™: BBVA Offers World-Class Mobile Banking Services

Forrester's Customer Insights

Digital banks are not eating the incumbent banks’ lunch (yet!) banking benchmarks digital business digital money management mobile apps mobile services user experience Banking Digital Banking Industry Wave Mobile Bankingbut 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.

Bankrupt Christopher & Banks Finds Potential Buyers for Ecommerce Business

Retail TouchPoints

Women’s apparel retailer Christopher & Banks has generated interest in its ecommerce business, even as it continues to wind down its brick-and-mortar operations and shutters its Plymouth, Minn. According to court documents, Christopher & Banks and its advisors B.

Revolut vs Monzo (Feb 2021): Which Online Bank’s Best?

Ecommerce Platforms

They both provide a range of services designed for busy people that can be conveniently accessed via their mobile banking apps. We'll answer all these questions below to help you decide on the right digital bank for you. Revolut vs Monzo: Overall Digital Banking Service.

N26 vs Monzo (Feb 2021): Which Mobile Bank Is Better?

Ecommerce Platforms

The increasing popularity of online banking is nothing new. So-called challenger banks / neobanks are giving traditional banks a run for their money. It’s easy to see why consumers might opt for banking apps. This Berlin-based bank has been around since 2013.

Lean Isn’t Always Lean: There Are Lean Cores And Lean Cores In Banking

Forrester's Customer Insights

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.