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.

Banking 195

Banking Management Customer Other 195

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.

Banking 506

Banking Customer Financial Services Customer Experience 506

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.

Banking 288

Banking Retail Customer Financial Services 288

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. […].

Banking 454

Banking Retail Other Financial Services 454

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.

Digital Currency 260

Digital Currency Banking Cryptocurrencies Payment Services 260

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.

Banking 195

Banking Technology Retail Financial Services 195

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.

Banking 195

Banking Financial Services Customer Experience Customer 195

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.

Banking 281

Banking Information Technology 281

Forrester eCommerce

SEPTEMBER 28, 2023

*This blog post is co-authored by Sohm Gough Small and mid-sized businesses (SMBs) have been battered over the past three years by the continuing to face headwinds of inflation, supply chain interruptions, macroeconomic uncertainty, and disruptive technologies that threaten market upheaval.

Banking 414

Banking Supplies Blog Operations 414

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 […].

Banking 308

Banking Telecommunications Retail Marketing 308

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 […].

Banking 468

Banking Consumer Customer Customer Experience 468

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.

Banking 454

Banking Financial Services Customer Technology 454

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.

Banking 276

Banking Customer Experience Customer 276

Forrester eCommerce

JULY 7, 2022

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. Forrester […].

Banking 195

Banking Operations Marketing Other 195

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.

Banking 297

Banking Technology Financial Services Operations 297

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 […].

Banking 294

Banking Mobile Other Financial Services 294

Forrester eCommerce

SEPTEMBER 11, 2020

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.

Banking 327

Banking Retail Other Customer Experience 327

Forrester eCommerce

MARCH 27, 2023

Read on for a look at Forrester’s evaluation of the 13 most significant open banking intermediaries: The Forrester Wave™: Open Banking Intermediaries, Q1 2023.

Banking 195

Banking Financial Services Payment Services Information 195

Forrester eCommerce

JULY 13, 2021

The digital yuan, the central bank digital currency (CBDC) of China, has already been tested in several major cities across the country. With further rollouts in 2021/2022, we expect to see this digital currency significantly impact a variety of B2C and B2B industries across financial services, retail, transportation, and entertainment.

Digital Currency 276

Digital Currency Banking B2C Financial Services 276

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 […].

Banking 322

Banking Consumer Financial Services Customer Experience 322

Forrester eCommerce

AUGUST 12, 2020

For over a decade, Forrester has conducted an annual review of banks’ mobile apps. My colleague Gina Bhawalkar and I recently published our most recent research, in which we evaluated and scored the mobile banking experiences on more than a dozen banking brands’ apps across the US and Canada.

Banking 354

Banking Mobile Customer Experience Financial Services 354

Forrester eCommerce

JANUARY 28, 2021

Banks are transforming their organizations with digital technologies. Forces such as emerging technology, fintechs, changing customer behavior, and the decomposition of the banking industry are influencing banking technology investment trends. To learn how banks are planning to prioritize their technology […].

Banking 301

Banking Technology Customer Financial Services 301

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.

Banking 343

Banking Blog Other Financial Services 343

Forrester eCommerce

JULY 16, 2020

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. We see four clear themes forming in the research.

Banking 276

Banking Financial Services Customer Loyalty Customer Experience 276

Forrester eCommerce

JULY 1, 2022

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.

Banking 195

Banking Customer Technology Management 195

Forrester eCommerce

JUNE 15, 2022

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. Now, the same digital urgency is reaching corporate banking.

Banking 195

Banking Retail Operations Customer 195

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.

Banking 320

Banking Financial Services Customer Experience Customer 320

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.

Banking 373

Banking Payment Services Mobile Operations 373

Forrester eCommerce

NOVEMBER 28, 2022

Forrester’s European Open Banking Forecast predicts a doubling of the adoption of open banking across countries, and use cases, from 2022 to 2027.

Banking 195

Banking Financial Services Customer Management 195

Forrester eCommerce

NOVEMBER 15, 2022

Forrester has been tracking emerging capabilities, products, services, and features that customers will expect and demand on banks’ apps in the next three years. Here are three mobile banking features from the second of two reports we’ve recently released: Carbon footprint tools and green financial products.

Banking 195

Banking Mobile Customer 195

Forrester eCommerce

JULY 28, 2021

Banks don't need new core banking systems, they need new paradigms to deliver core banking capabilities - and they need them today or tomorrow.

Banking 294

Banking Financial Services Customer Technology 294

Forrester eCommerce

JANUARY 25, 2023

Blockchain has added value for banks when filling white spaces or replacing inadequate solutions. Fully operational systems are few and far between.

Banking 195

Banking Technology Operations Customer 195

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.

Banking 218

Banking Mobile Customer Technology 218

Forrester eCommerce

DECEMBER 29, 2022

The Asia Pacific (APAC) region is at the forefront of central bank digital currency (CBDC) development. Most APAC countries are proactively exploring and experimenting with CBDCs. China, South Korea, India, and Thailand are proactively piloting retail CBDCs.

Digital Currency 195

Digital Currency Banking Retail 195

Forrester eCommerce

AUGUST 28, 2019

It is the first time that Forrester has evaluated banks in Hong Kong SAR, the famous world finance hub. We benchmarked the usability and functionalities of five mobile banking apps in Hong Kong: Bank of China (BoC), Bank of East Asia (BEA), DBS Bank Hong Kong, HSBC, and Standard Chartered Bank.

Banking 233

Banking Mobile Customer 233

Forrester eCommerce

JULY 9, 2020

For banks, open banking implementation is not straightforward – differing standards, specifications, and deployments result in the need to resolve complexity across interfaces. VCs poured over […].

Banking 318

Banking Financial Services Technology Management 318

Forrester eCommerce

JUNE 11, 2020

As Japanese leading banks roll out initiatives to help consumers and SMEs cope with the fallout from the COVID-19 pandemic, they also face an urgent need for digital transformation to serve […]. It has been a year since Japan moved to a new era: “Reiwa” and quite a lot has happened during the past 12 months.

Banking 343

Banking Consumer Customer 343