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For eBusiness & Channel Strategy Professionals

How Executives At Financial Services Firms Can Get More From The eBusiness Solutions Market

We Apply Forrester's STEP Methodology To The eBusiness Solutions Evaluation Process For Financial Services Providers

July 12, 2011


Why Read This Report

eBusiness executives at financial services providers have many roles, and one of the more critical is choosing technology solutions that meet their firm's technology-agnostic business problems. Financial services companies have specific client relationship needs and unique legal and compliance requirements, yet the existing process for selecting technology solutions suffers from the same difficulties found in other industries: an approach driven by requests for proposals (RFPs) that fail to clearly identify and articulate the key objectives, dilute the business needs by casting too wide a net, and too often miss the needs of providers and their clients. Forrester endeavored to develop a better line of attack for getting the most from the solutions market. What came about is a scenario-based technology evaluation process — what we call the STEP methodology — which involves three stages: preparation, evaluation, and decision. To illustrate the usefulness of this new approach, we have outlined how an eBusiness executive at a financial services provider might use this methodology to select a mobile banking solution for the provider's retail banking customers.

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Tools And Templates

Best Practice Assessments

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  • Sample STEP Scenarios For Financial Services eBusiness Teams

Models and Calculators

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  • Sample Scorecard For STEP Evaluation

Table of Contents

  • It's Time To Change How Financial Firms Select eBusiness Technology Solutions
  • Enter The STEP Methodology: A Scenario-Based Evaluation Process

  • Planning Is Half The Battle: Start With A Single Team And A Strong Strategy
  • Supplemental Material
  • Related Research Documents

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