Banking

Banks face many challenges: declining customer loyalty, an emergent fintech class, and commerce platforms that continue to inch toward providing financial services. Read our insights on how the banking industry is changing and how banks can transform and thrive amid unprecedented disruption.

Insights

Blog

Open Banking Adoption Is On The Cusp Of Robust Growth In Europe

Jacob Morgan 2 days ago
Forrester’s European open banking forecast predicts a doubling of the adoption of open banking across countries, and use cases, from 2022 to 2027.
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Predictions 2023: Organizations That Maintain Trust Will Thrive

Enza Iannopollo November 15, 2022

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Customer Trust Was Weak Across US Financial Services Brands In 2022

Alyson Clarke November 8, 2022
How well did US financial services firms rank in terms of customers’ trust in 2022? Our new research reveals the scores and rankings of 54 US brands across auto and home insurance, banking, credit card issuers, and investment firms, analyzed as part of Forrester’s US Financial Services Trust Index, 2022. Overall, customer trust was relatively […]
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Financial Services Firms Need To Learn How To Earn Customers’ Trust

Alyson Clarke November 8, 2022
Winning trust is imperative to financial services firms' success. Yet it's lacking, Forrester’s Financial Services Customer Trust Index shows.
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Banking Functionality Doesn’t Differentiate Banking Software Anymore, But Technology And Ecosystems Do

Jost Hoppermann 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.
Blog

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

Alyson Clarke November 1, 2022
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.
Blog

European Predictions 2023: Cloud

Dario Maisto October 27, 2022
In 2023, European banks and governments will accelerate their cloud plans while Kubernetes will see increased interest, as well. Learn more in our 2023 cloud predictions for EMEA.

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Get our Predictions 2023 Guide to see the 12 big-impact dynamics that leaders will have to navigate in the coming year.

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How Exploration Drives Breakthrough Digital Business Strategies

Peter Wannemacher October 26, 2022
A confluence of factors makes digital business inherently fast-moving. Systems of exploration can help digital business strategies evolve and drive growth. Learn more.
Blog

Customer Experience In UK Banking Improved Significantly In 2022 — But Not Across The Board

Oliwia Berdak October 19, 2022
In 2022, we benchmarked CX quality at 10 leading UK banking brands. This year, the average CX quality in the UK banking industry improved significantly compared to 2021.
Blog

CX Index för svenska banker 2022: Vad vill kunderna ha?

William Dahlgren October 18, 2022
Forrester har länge undersökt Customer Experience (CX) och hur kunder upplever interaktionen med företag i olika branscher och geografier. För första gången görs ett CX index på svenska banker som en del av det europeiska CX indexet. Varför spelar CX roll? Och varför just nu? I vår forskning syns en tydlig korrelation mellan företags tillväxt […]
Blog

How Should Financial Services Respond To The Cost-Of-Living Crisis?

Aurelie L'Hostis September 20, 2022
Banks should address the current, intense cost-of-living pressures as they did the pandemic — with empathy, flexibility, and creativity.
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Will The UPI Credit Card Hookup Be A Game-Changer?

Pushpa Marwal September 12, 2022
UPI is now India’s de facto method for online payments. The exponential increase in transaction value, from ₹3.8 million in July 2016 to ₹10.63 trillion in July 2022, reflects this. Indians love UPI — no bank details needed; just a mobile phone number is enough! It is simple, quick, and safe to use. I love […]

See Why 2023 Fortune Favors The Bold And Focused

Explore our 2023 Predictions to see where strategies are shifting – and where opportunities for bold moves exist.

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US Banking CX In 2022: Who Does It Well And Why It Matters

Alyson Clarke August 16, 2022
For a large multichannel bank, a 1-point improvement in its CX Index™ score can lead to an incremental $123 million in revenue. For a direct bank, it can lead to an incremental $92 million in revenue. Discover the results of the 2022 CX Index™ for US banks.
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US Banking Customers Will Soon Demand These Features. Does Your Mobile App Offer Them?

Peter Wannemacher July 25, 2022
Customers’ digital banking expectations have shifted. We look at three features that are now key in customers' minds.
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Mox Bank Drives A High-Performance Operating Model To Deliver New Digital Banking Experiences In Hong Kong

Meng Liu July 7, 2022
Get a detailed look inside the bank's strategies and approaches for bringing a new generation of digital experiences to customers in Hong Kong.
Blog

Customer-Centricity And Personalization In Banking Need Product Externalization

Jost Hoppermann 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.
Blog

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

Tom Mouhsian July 1, 2022
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.

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What’s New In EMEA Mobile Banking

Oliwia Berdak June 21, 2022
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.
Blog

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

Jost Hoppermann May 23, 2022
Modern banking platforms allow banks to elevate their customer experience and deliver more business value more seamlessly and more effectively. Banks and their technology teams can leverage market dynamics to make digital transformation more feasible both architecturally and economically. Find out about the key trends in the 2021 banking platform software market.
Blog

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

Alyson Clarke May 17, 2022
The “buy now, pay later” (BNPL) market is hotter than ever. 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. While the concept is nearly a century old, Forrester has been tracking the “reemergence” of […]
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