For eBusiness & Channel Strategy Professionals

European Banking Customers Continue Migrating Away From The Branch

Branches Are Losing Their Role As The Heart Of The Customer Relationship

by Alexander Hesse, October 28, 2009

The number of consumers visiting branches each month is falling slowly but steadily across Europe. Branch users tend to be lower-value customers who use branches mainly for day-to-day transactions like depositing and withdrawing money. Although online . . .

For eBusiness & Channel Strategy Professionals

How UK Banking Customers Use Different Channels

by Benjamin Ensor, October 9, 2009

The steady growth of online banking in the UK over the past decade is changing the way people use other banking channels. Half of UK adults still visit a branch each month, although the number of regular branch users has fallen. Banks' efforts to persuade . . .

For eBusiness & Channel Strategy Professionals

Case Study: Royal Bank Of Canada Provides A Blueprint For A Next-Generation Sales Site

A Major Web Site Overhaul Drives Sales And Reduces Abandonment

by Brad Strothkamp, September 29, 2009

Royal Bank of Canada (RBC) topped Forrester's Canadian bank public Web site rankings in 2009. Key to RBC's success in this year's ranking was a stronger focus on online sales delivered through a revamped credit card and accounts Web site. The work took . . .

For Consumer Market Research Professionals

Technographics® Survey Highlights: Online Banking Usage And Customer Journey For Financial Products  (439 KB PPT)

by Olesia Klevchuk, September 15, 2009

This highlight deck summarizes the key findings related to financial services from Forrester's European Technographics Benchmark Survey, Q2 2009. This is the third survey highlight in a series from the European Technographics Benchmark Survey, Q2 2009.

For eBusiness & Channel Strategy Professionals

iPhone Apps Fill Mobile Banking Gaps

Forgotten Functionality Holds Clues To What Banks Should Do Next

by Emmett Higdon, Alexander Hesse, September 15, 2009

Apple's iTunes App Store now offers more than 1,000 personal finance applications from banks and third-party developers for download. While today's iPhone apps from the largest banks add little value beyond what is already delivered through online banking . . .

For Consumer Product Strategy Professionals

Case Study: Bank Of America Makes The Most Of Mobile Banking

A Mobile POST Case Study

by Julie A. Ask, Seth Fowler, September 3, 2009

Bank of America's mobile strategy aims to offer customers control of their accounts and convenient information through the most advanced mobile services available. Connectors and SuperConnecteds, whose cell phone habits include using productivity-enhancing . . .

For eBusiness & Channel Strategy Professionals

2009 Canadian Bank Secure Web Site Rankings

RBC Posts Solid Scores In All Areas Of Forrester's Review

by Emmett Higdon, August 25, 2009

Forrester again this year evaluated the secure Web sites of the seven largest Canadian banks and credit unions — Bank of Montreal, CIBC, Desjardins, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Canada Trust — using our Competitive Site . . .

For eBusiness & Channel Strategy Professionals

European Online Banking Holdouts Want Security Guarantees

Net Users Still Need Security Guarantees And Incentives To Bank Online

by Alexander Hesse, Lauriane Camus, August 21, 2009

More than half of Western Europeans who use the Internet regularly — about 92 million — bank online. Thirty-two percent of European adults could bank online but don't do so — or have stopped doing so. Typically, these online banking holdouts mention security . . .

For eBusiness & Channel Strategy Professionals

European Online Banking Users Employ Few Features

Online Banking Is Mostly Used For Information And Routine Transactions

by Vanessa Niemeyer, Ph.D., Lauriane Camus, August 20, 2009

The number of Europeans who bank online has grown by 30% from 69 million in 2006 to nearly 92 million in 2009. Despite that growth, the behavior of online banking users hasn't changed much. Checking account balances, looking at statements, and viewing . . .

For Customer Experience Professionals

Best And Worst Of Financial Services Brand Building Web Sites, 2009: Banks

by Ron Rogowski, August 14, 2009

The banking industry features some of the most recognizable brand names in the US, like Bank of America, SunTrust Bank, U.S. Bank, and Wells Fargo. But how good are the brand experiences offered by major banks' Web sites? To find out, we graded the sites . . .

For eBusiness & Channel Strategy Professionals

Case Study: How Commonwealth Bank Of Australia Redesigned The Secure Site For Sales

by Vanessa Niemeyer, Ph.D., August 13, 2009

In the course of its "Finest Online" project, Commonwealth Bank of Australia redesigned its NetBank Internet banking service with the objectives of building an excellent customer experience and driving online sales. The bank has implemented new content . . .

For eBusiness & Channel Strategy Professionals

US Teen Millennials Underscore The Vital Nature Of The Online Channel To Financial Services

Profiling The Financial Attitudes And Behavior Of US Online Teenagers

by Brad Strothkamp, Peter Wannemacher, August 13, 2009

There are roughly 20 million Teen Millennials — individuals between 13 and 17 years old — in the US. As consumers, Teen Millennials tend to be loyal to brands but mistrustful of financial providers. Forrester's data shows that despite educational efforts . . .

For eBusiness & Channel Strategy Professionals

Case Study: Sovereign Bank Improves Multichannel Selling With Online Advice Tool

by Chad Mitchell, August 10, 2009

Sovereign Bank knew that more small business customers were going online, but its Web site had only static content with no online application. New accounts could only be opened in branches. Many of the leads Sovereign did get online were unqualified, . . .

For eBusiness & Channel Strategy Professionals

How The iPhone Has Changed Mobile Banking

The iPhone Is A Catalyst For Mobile Banking Adoption And Innovation

by Alexander Hesse, August 4, 2009

The iPhone is a powerful catalyst for mobile banking adoption and innovation. It improves the mobile Internet browsing experience, removes uncertainty about mobile browsing costs, makes it easier to download mobile applications, and unleashes a wave of . . .

For eBusiness & Channel Strategy Professionals

US Online Banking Forecast, 2009 To 2014

Slower Growth Overall Magnifies Gen Y's Impact

by Emmett Higdon, July 31, 2009

Between 2009 and 2014, the total number of US online banking households will increase from 54 million to 66 million. Most of this growth will be fueled by an influx of Gen Y (ages 18 to 29) households, whose numbers will finally match the hype usually . . .

For eBusiness & Channel Strategy Professionals

US Internet Banking Forecast, 2009 To 2014

As Overall Growth Slows, Gen Y Will Drive Growth

by Edward Kountz, July 31, 2009

Online banking is maturing in the US. Between 2009 and 2014, the total number of US online banking households will increase from 54 million to 66 million. Much of this growth will come from Gen Y (ages 18 to 29) user households, as Gen Y will adopt online . . .

For eBusiness & Channel Strategy Professionals

The State Of US Small Business Banking

Nearly Two-Thirds Of Small Businesses Use The Web For Financial Transactions

by Brad Strothkamp, Peter Wannemacher, July 21, 2009

There are more than 25 million small businesses — firms with fewer than 500 employees — in the US, and more than one in 10 US online consumers is a small business owner. The recession has had a profound effect on these firms, yet small business owners . . .

For eBusiness & Channel Strategy Professionals

Driving Sales On Banks' Secure Sites — Global Best Practices

by Vanessa Niemeyer, Ph.D., July 20, 2009

Many retail banking eBusiness executives have realized that the secure online banking Web site is a good place to sell products to existing customers. To do so, eBusiness managers have to overcome a series of organizational and technical obstacles. Executives . . .

For eBusiness & Channel Strategy Professionals

Case Study: BBVA's Tú Cuentas Shows What Next-Generation Online Banking Will Look Like

by Alexander Hesse, July 14, 2009

BBVA's Tú Cuentas online personal finance management service was launched in late 2008. It lets the bank's online banking customers see their account balances and transactions from different providers in one place, categorize their transactions, and benchmark . . .

For Consumer Market Research Professionals

Technographics® Survey Highlight: North American Technographics Banking Online Survey, Q1 2009 (US)  (718 KB PPT)

by Corina Matiesanu, June 22, 2009

This highlight deck summarizes the key findings from Forrester’s North American Technographics Banking Online Survey, Q1 2009 (US).

For eBusiness & Channel Strategy Professionals

How Italian Banking Customers Use Different Channels

by Vanessa Niemeyer, Ph.D., June 1, 2009

Italian banking customers' channel use differs from that of most other Western Europeans. While customers elsewhere in Europe migrate from the branch to the Web, branch use in Italy keeps growing and online banking use remains low. eBusiness and channel . . .

For eBusiness & Channel Strategy Professionals

How Swedish Banking Customers Use Different Channels

by Alexander Hesse, May 27, 2009

With only 12% of Swedish banking customers using branches, Sweden has the lowest branch use in Europe. Swedish banks have successfully migrated the majority of their customers to ATMs and online banking — 83% and 71%, respectively. When they move customers . . .

For eBusiness & Channel Strategy Professionals

Case Study: Citibank Perfects Online Account Opening

A Four-Year Effort Results In Significant Cost Savings And Revenue Generation

by Brad Strothkamp, May 21, 2009

Citibank has topped Forrester's US bank public Web site rankings for the past two years. Citibank's success is due in part to an online checking account opening process that is an industry best practice. The account opening process took four years to . . .

For eBusiness & Channel Strategy Professionals

Trends 2009: European Retail Banking eBusiness And Channel Strategy

The Financial Crisis And The Recession Have Changed Priorities For Executives

by Benjamin Ensor, May 12, 2009

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 . . .

For eBusiness & Channel Strategy Professionals

2009 Canadian Bank Public Web Site Rankings

Royal Bank Of Canada Blazes A Path Others Will Follow

by Brad Strothkamp, May 4, 2009

For the fourth year in a row, Forrester evaluated the Web sites of the seven largest Canadian banks and credit unions — Bank of Montreal, CIBC, Desjardins, National Bank of Canada, RBC Royal Bank, Scotiabank, and TD Canada Trust — using our Competitive . . .