Highlights and Thoughts From Finovate Fall 2013

[note: this was written live last week while I was attending Finovate]

Greetings from the Big Apple! I’m here attending the fancy schmancy Finovate Fall 2013 conference featuring tech solutions and innovations from – and for – the financial services industry. Here are some of the offerings and presentations that stood out for me, in the order they were presented at Finovate:

  • Kofax offers process automation software for lenders, but the big takeaway for me was their recent expansion of mobile, cross-channel, and multichannel analytics for financial providers. Focused on how customers shop for a loan, the dashboard and data are digestible and actionable. The jury’s still out, but strong analytics and easy-to-use tools can help banks improve sales in their lending lines of business.  
  • MoneyDesktop offers digital money management tools – also known as personal financial management or PFM – and their demo at Finovate continued to show their strengths: Nifty tools, clean design, and intuitive UI and UX. The question mark for banks, however, continues to be how well integrated – or better yet, embedded – the experience can/will be for end users.
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The 14 Digital Customer Experience Tools You're About To Invest In

If you’re involved in delivering and executing great digital customer experiences, you’ll want to access Forrester’s new TechRadar report that digs into the diverse, rapidly evolving technology ecosystem that supports this strategic business imperative.

We define 14 technologies (and cite representative vendors) including web content management, eCommerce, email marketing, web analytics and testing — all capabilities we believe are necessary to support “on-site” customer experiences, or the digital channels that businesses and brands control.

This is an important market not just because vendors that serve it are making lots of noise. It’s relevant because enterprises have discovered that great digital customer experiences matter to their customers and to their enterprise success, competitiveness and viability. It’s about technology plus a whole lot more. From the report:

Delivering great multichannel digital experiences isn't as easy as plugging in new software and calling it a day. Digital customer experience success comes from combining many elements: a big-picture vision, short- and long-term strategic planning, shifts in roles and responsibilities, and intelligent technology adoption and delivery.

The shift to digital at organizations is not happening — it cannot happen — at an incremental pace. Too much is riding on it. This is a transformative change, and to date too many organizations that have paid only lip service to supporting the customer across all digital channels have felt the sting of competition beating them to the punch. We don’t call it “digital disruption” for nothing.

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