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Mobilebanking matters more than ever in the US and Canada. Online banking usage is trending down as mobilebanking usage and engagement continue to rise. So what […]
Bank executives and their teams face rising customer expectations, evolving needs and behaviors, and new competitive threats — and mobile experiences are at the center of it all. The share of consumers using mobile apps for banking has spiked (overtaking online banking).
Spain’s BBVA has come top in Forrester’s global mobilebanking app reviews for the third year in succession. Over the past few months, a team of Forrester analysts and other researchers has reviewed the functionality and user experience of 54 leading mobilebanking apps from around the world.
Mobilebanking apps are a crucial component of the overall banking experience. To identify mobilebanking best practices, we reviewed the mobile apps of 13 EMEA banking brands in March and April of 2022 for both functionality and user experience.
Digital banks are not eating the incumbent banks’ lunch (yet!) but they’re certainly demonstrating voracious appetite. In the UK, Monzo recently hit the one million customer mark, whilst Revolut has almost tripled its customers to 2.8 million in a year.
A new Android mobile malware dubbed Escobar has hit the cybercrime underground market. The post Escobar mobile malware targets 190 banking and financial apps, steals 2FA codes appeared first on TechRepublic. Read more about it and see how to protect yourself from this threat.
Some banking malware targets mobile devices and can quickly steal money from banking accounts. Meet Xenomorph, a new malware targeting Android and more than 50 banking and financial applications.
India is emerging as a powerhouse in mobilebanking adoption. According to Forrester’s Asia Pacific Consumer Survey, 2023, a staggering 87% of online Indian adults expressed their desire to do all their banking on a smartphone. This statistic marks the highest percentage among the countries surveyed in the Asia Pacific region.
For over a decade, Forrester has conducted an annual review of banks’ mobile apps. My colleague Gina Bhawalkar and I recently published our most recent research, in which we evaluated and scored the mobilebanking experiences on more than a dozen banking brands’ apps across the US and Canada.
Forrester’s view on the future of banking is here – examining the changes that we expect to play out over the next decade of retail banking. The drivers of the future are evolutions of the past – some playing out now, others that will be far more prominent by 2025 and table stakes by 2030. […].
(Coauthored with Riccardo Pasto, senior analyst, Nancy Lin, senior research associate, and Han Bao, senior research associate) It is the first time that Forrester has evaluated banks in Hong Kong SAR, the famous world finance hub.
[Note: This is about the findings from our US mobilebanking reviews and research, if you want to read about what we saw in Canada go here] Mobile apps have become the touchpoint of choice for millions of people to manage their finances.
Mobile apps have become the touchpoint of choice for millions of people to manage their finances and Forrester regularly reviews those of leading banks. We just published our latest evaluations of the apps of the big five Canadian banks: CIBC, RBC, BMO, Scotiabank, and TD Canada Trust.
A study of banking apps for iOS and Android found poor source code protection, cleartext storage of sensitive data, and other serious flaws that make it easy for attackers to break into accounts.
Banks across Europe are all working hard to build the killer mobilebanking app. They aim to keep pace with their customers’ needs and rising expectations as consumers’ appetite for banking on the go shows no signs of abating. Incumbent banks like […]. The drivers are manifold.
This ambitious initiative is poised to position ADIB-Egypt at the forefront of the digital banking revolution, transforming how customers interact with their financial services. The bank has been dedicated to enhancing its digital platforms and improving customer experience.
Beyond Bank Australia is one of the largest customer-owned banks in Australia and one of the leading B Corps in the country. Beyond Bank has a real focus on customers who are the members and owners of the bank. Beyond Bank has a real focus on customers who are the members and owners of the bank.
When a customer opens a mobilebanking app, they are usually trying to complete a specific task: paying a bill, seeing how much money they have left for the month, finding a recent transaction, requesting money from a friend, etc. But banking customers increasingly want more and better features on these apps.
What do consumers expect from their banks in response to the COVID-19 pandemic? We interviewed 40 customers of 14 banks to find out. We also asked them what they think of how their banks are handling the crisis so far. Their responses show that many banks are missing the mark by making COVID-19 content hard […].
For over a decade, Forrester has conducted an annual review of banks’ mobile apps. My colleague Gina Bhawalkar and I recently published our most recent research, in which we evaluated and scored the mobilebanking experiences of more than a dozen banking brands’ apps across the US and Canada.
It is the first time that Forrester has evaluated banks in Hong Kong SAR, the famous world finance hub. We benchmarked the usability and functionalities of five mobilebanking apps in Hong Kong: Bank of China (BoC), Bank of East Asia (BEA), DBS Bank Hong Kong, HSBC, and Standard Chartered Bank.
Leading banks are leveraging mature and emerging technologies, customer insights, and data to enhance customer experience, increase customer engagement, and drive business growth.
Super-apps are versatile mobile or web applications integrating multiple services and functionality into a unified platform experience. The demographic landscape continues to change, with younger generations favoring mobile solutions that offer immediacy and convenience. The trend is most pronounced in financial services and payments.
Mobile apps have become the main touchpoint of banking relationships for millions of people and the starting point for many financial decisions and activities. Forrester data shows that 52% of Italian and 42% French online adults have done their banking on a mobile website or app in the past month.
Among the fastest-moving frontiers in enterprise cybersecurity: mobile, the internet of things (IoT), and operational technology (OT) systems. of people access the internet with a mobile device, while 59% of internet traffic is generated by mobile devices. Top mobile and IoT/OT targets 5. Today, 96.5%
Mobile apps have become the main touchpoint of banking relationships for millions of people and the starting point for many financial decisions and activities. Forrester data shows that 53% of UK online adults have done their banking on a mobile website or app in the past month.
How we bank has also changed dramatically. It’s mid-July 2020, and the world is a very different place than it was six and a half months ago! Just think of the ways we now interact with each other, carry out our daily activities, and buy and pay for products and services. With social distancing rules and […].
Take another not-so-random walk with me, this time as my colleague Peter Wannemacher and I explore what makes USAA a standout performer in our MobileBanking Benchmark assessment.
On April 18th, T-Mobile officially launched its T-Mobile MONEY checking account, after a soft launch late last year. This is not the first time we’ve seen a telecommunications firm enter the banking space – it’s already been happening for years in Europe and Asia, with large telcos such as Orange and KDDI.
As discussed in Forrester’s recent research on the future of banking, success for many banks will come from powering products and distributing through others’ marketplaces. Late last year, I blogged about Google’s move into banking and […]. And Google is now moving ahead with its plan to launch one of those marketplaces.
Recently, the Reserve Bank of India (RBI) has imposed a ban on Bank of Baroda’s mobilebanking app – BoB World. But why did this happen, and what can we learn from it? Let us dive into the details. This unsettling issue involved a series of actions which led to fraudulent actions by some of […]
Along with nearly every other industry, banking is facing greater competitive pressure than ever. As banks continue to face this reality, they’re also tasked with addressing a variety of rapidly changing issues, including those surrounding data protection, adoption of cryptocurrency, and anonymizing data (AI models). .
Forrester recently evaluated mobilebanking apps in Canada and the US in our latest Digital Experience Review™ (DXR). It shows that: Banks’ apps are barely keeping up with customers’ needs and expectations. Mobilebanking usage is rising and evolving, and the pace of change has been accelerating since 2020.
Forrester just published new research outlining the future of small and midsize business banking (also called SME banking to refer to SMEs, or small- and medium-sized enterprises). If you’re an executive at a traditional bank, it contains some grim and gloomy predictions.
Leading banks are pivoting and rebooting their strategy — capitalizing on the pace of change and innovation and setting their course for the next decade. By 2030, banking will be invisible, connected, insights-driven, and purposeful.
Today’s Indian customers are finding that their mobilebanking apps are lagging behind digital trends. Banks must go beyond and be bold in […] Customers always want an experience better than the last one – and digital leaders need to understand that to stay relevant. And they might not wait around until the apps catch up.
The bigger concern for digital banks, traditional banks, […]. The industry seems to be quick to dismiss the partnership, especially the rewards program – but we think they’re missing the bigger picture. There’s an awful lot more at stake here than credit card rewards.
Today, with the cloud, mobility, and the rise of hybrid work, an organization’s attack surface has exponentially expanded. The stages of a cyberattack are analogous to that of a bank robbery. In the cyber world, the bank represents your external attack surface—the part that’s visible to threat actors.
Mobile apps have become the touchpoint of choice for millions of people to manage their finances, this is especially true for China where the customers are among the most empowered in the world.
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