Banking

Superior service and low or no fees are more important to customers than specific banking products themselves. To acquire and retain customers in a competitive field, banks must build trustworthiness and invest in support capabilities.

Latest Research

  • For Customer Experience Professionals

    REPORT: The Australia Banking Customer Experience Index, 2018

    How Australian Banks Earn (And Lose) Loyalty With The Quality Of Their Experience

    April 11, 2019 Riccardo Pasto, Zhi-Ying Barry

    How well do leading banks earn loyalty with the quality of their customer experience (CX)? This year, we reveal the complete rankings of eight banks that we analyzed as part of the Australia Customer Experience Index (CX Index™). We also unveil trends in CX quality and the role that emotion plays in CX. Customer experience professionals can use this report to inform their ongoing improvement efforts.

  • For eBusiness & Channel Strategy Professionals

    REPORT: Take Concrete Steps To Improve Your Digital Banking Capabilities

    Learn From The Best Digital Experiences In The Industry

    April 9, 2019 Alyson Clarke, Aurelie L'Hostis, Peter Wannemacher, August Du Pont

    Building great digital banking experiences isn't easy. Some digital banking teams have made preventable mistakes that make digital touchpoints less effective or harder to use than they can be. Forrester has published a series of briefs — each labeled as a "digital feature fix" — about digital banking features to illustrate good practices from leading banks. This brief is a short overview that links to those digital feature fix briefs.

  • For eBusiness & Channel Strategy Professionals

    REPORT: Australian Financial Services Firms Need To Step Up And Fix Home Lending

    Let The Royal Commission Be The Catalyst To Advocate For Your Customers And Rebuild Trust

    April 8, 2019 Zhi-Ying Barry

    The Australian government's Royal Commission revealed major flaws in the country's home lending market. So far, the industry's response has been inadequate; financial services firms have yet to demonstrate how they will avoid conflicts of interest and put customers' interests first. Financial services leaders must step up by overhauling their corporate culture, selling or restructuring brokerage subsidiaries, and creating compelling direct-to-consumer offerings. This report examines the shortcomings in home lending in Australia and how leaders can rebuild trust.

  • For eBusiness & Channel Strategy Professionals

    REPORT: Use In-App Messaging To Drive App Updates

    Screen-Shot Examples Of In-App Messaging Highlight Best Practices

    April 5, 2019 Julie A. Ask

    One of the most frequently asked questions Forrester receives from mobile app product owners is, “What do I need to do to drive app updates?” In-app messaging is one method. Progressively urgent nudging trumps ultimatums, especially if switching costs are low. If you are in retail banking, being polite and persistent will yield results. If you’re in a nice-to-have, not need-to-have, category, you’ll have to work harder. This PowerPoint deck contains annotated screen shots from financial services and other brands that show how to do in-app messaging well.

  • For eBusiness & Channel Strategy Professionals

    REPORT: Use Your Contact Center To Deliver Great Banking Customer Experiences

    Great Customer Service Does Not Happen By Chance

    April 4, 2019 Aurelie L'Hostis

    We surveyed and interviewed executives at retail banks to understand the state of contact centers and customer service in retail banking. This report examines the findings from our survey and interviews of executives at banks who are members of Efma. It reveals retail banks' lack of maturity at managing customer service. The report also highlights good practices that customer service and digital business strategy professionals at banks can use to improve their customer service.

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