May 12, 2009

Trends 2009: European Retail Banking eBusiness And Channel Strategy

The Financial Crisis And The Recession Have Changed Priorities For Executives

This is the fifth document in the "2009 eBusiness And Channel Strategy Trends" series.

by Benjamin Ensor

with Vanessa Niemeyer, Ph.D., Alexander Hesse, Courtney Tincher

Executive Summary (This is a document excerpt)

Under the impact of the financial crisis and the recession, eBusiness and channel strategy executives at European retail banks will focus on retaining customers and increasing efficiency in 2009. In this environment, we expect to see eBusiness and channel strategy professionals promoting online self-service to lower costs, investing to improve the Web site and multichannel customer experience, and looking for ways to encourage product sales on the secure site. While most eBusiness and channel strategy executives are planning their next generation of online financial services, budget limitations will force many to put those plans on hold and focus instead on making the most of the people and assets they already have. Executives will continue to track and test emerging technologies like mobile devices and social media, though most will defer serious investments in these technologies into next year.

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