Citi And Royal Bank Of Canada Earn The Top Spots In Our 2012 Bank Secure Website Rankings

Late last year, Forrester reviewed and ranked the secure websites of the 12 largest retail banks in the US and Canada. The full reports can be found here (US) and here (Canada). Overall, banks' secure websites earned an average score of 70 points (out of 100), demonstrating a level of quality that meets customers expectations but also leaves room for improvements. Here are some of the highlights:

  • Citi moves to the top of the US rankings with a website overhaul. In July 2011, Citi launched its first tablet banking app. Based in part on insights gleaned from that process, the bank rolled out a newly redesigned secure website, followed by additional digital features and functionality for online bankers, mobile bankers, and tablet bankers. As a result, Citi moved from second-to-last in our ranking to the top spot this year.
  • RBC pulls off a historic sixth-straight win among Canadian banks' secure sites. For a record sixth year, RBC earned the top spot in our Canadian rankings. Two factors drive RBC’s digital banking success: First, the bank's secure website offers a wide array of secure site features, including eBills, tax management tools, and more; second, the bank continues to innovate, this year adding customizable money management dashboards and new mobile features such as foreign exchange and mortgage payment calculators on its iPhone app.
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Even The Best Mobile Banking Strategy Can Be A Victim Of Poor Execution

My latest research on Building Next Generation Mobile Banking Solutions has been published for a few days now.  I’ve already gotten phone calls from clients stating this research is not only timely, but speaks to the very challenges their organization is facing when considering how to build next generation mobile banking solutions.   The resounding theme, as my latest research uncovers: Even the best mobile strategy can be a victim of poor execution.  Digital banking executives are feeling the pain of their current mobile banking platform.  While most are plagued with the realization that their current mobile banking platform may not be scalable or flexible enough to deliver next generation mobile banking solutions, others are facing a more disruptive challenge—dealing with the vendor acquisition and consolidation aftermath. Regardless of your current plight, digital banking teams should consider the following as they build next generation mobile banking solutions:

  • A well-defined strategy can fall short in execution. Technology can make or break even the best mobile banking strategy. The pressure is on to get something out the door, but too much focus on short-term delivery has meant that some banks have sacrificed the ability to deliver long-term capabilities.
  • A vendor relationship can hinder or enhance your mobile banking strategy. Banks that are using a vendor that has been recently acquired are burdened with the task of understanding how that acquisition will affect their mobile banking strategy and roadmap.  Specifically, banks are trying to determine if acquisition will require migration to a new platform, dedicated internal resources to support migration activities, or a new vendor altogether.   
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