Multichannel Needs Strategy, Tactics, And Speed

Jost Hoppermann

For the past couple of months, we have been working on identifying best practices for application development and delivery teams executing on multichannel strategy. The related report will get published soon. We found that application development and delivery teams need to be successful in the magic triangle of delivering a multichannel solution: 1) tactically; 2) in a strategic way; and 3) fast.

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The Promises Of Vendor Service

Jost Hoppermann

Just recently, I had an interesting customer experience — or, to be more precise, my daughter had it, as it involved her laptop computer from one of the top international Internet PC vendors. It was only a little defect — more an annoyance than a real fault. Since we bought “next business day service,” it should have gotten fixed right away. It played out differently in real life.

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The Multichannel Organization Revisited

Jost Hoppermann

In 2006, Forrester found that organizational structure, internal enterprise goal systems, and most urgent business requirements were key obstacles on many firms’ journey toward broad multichannel solutions with rich cross-channel capabilities. At that time, a few advanced firms tried to establish a multichannel organization, an organizational layer to coordinate multichannel requirements and solutions between the different business groups and the IT organization. Has this changed over the past five years?

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First Details Of Forrester’s 2010 Global Banking Platform Deals

Jost Hoppermann

Forrester began surveying global banking platform deals in 2005. For 2010, we evaluated about 1,200 banking platform deals submitted by 23 vendors and located in more than 130 countries. Shortly, we will publish the final results of this evaluation. Today, I want to offer some initial trends:

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POST: Refining Your Strategy For iPads and Tablets -- The Workshop!

JP Gownder

Are you a product strategist trying to craft an iPad (or general tablet) product strategy?  For example, are you thinking about creating an app to extend your product proposition using the iPad or other tablet computer?

At Forrester, we’ve noticed that product strategists in a wide variety of verticals – media, retail, travel, consumer products, financial services, pharmaceuticals, software, and many others – are struggling to make fundamental decisions about how the iPad (and newer tablets based on Android, Windows, webOS, RIM’s QNX, and other platforms) will affect their businesses.

To help these clients, an analyst on my team, Sarah Rotman Epps, has designed a one-day Workshop that she’ll be conducting twice, on February 8th and February 9th, in Cambridge, Massachusetts.

She’ll be helping clients answer fundamental questions, such as:

  • Do we need to develop an iPad app for our product/service/website? If we don't build an app, what else should we do?
  • What are the best practices for development app products for the iPad? What are the features of these best-in-class app products?
  • Which tablet platforms should we prioritize for development, aside from the iPad?
  • Which tablets will be the strongest competitors to the iPad?
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A First Look At 2010’s Global Banking Platform Deals

Jost Hoppermann

Similar to the past few years at this time of year, we have received a number of global banking platform vendors’ 2010 banking platform deals submissions. While evaluation and analysis will still take some time, a first look at the survey responses shows three interesting aspects:

  • The number of survey participants increased. The 2010 survey has more participants than in prior years. A number of more-regional players such BML Istisharat, Cobiscorp, Intracom, and SAB participated for the first time, while CSC and InfrasoftTech rejoined after some years of absence.
     
  • Some vendors preferred not to participate. Open Solutions decided not to participate anymore after a few years of participation. And, similar to the past, Accenture, Fiserv, Jack Henry, all invited Russian players, as well as a few others chose to not participate for various reasons.
     
  • Success is regaining momentum. A few vendors have been able to retain their 2009 success, while a few others submitted remarkably high numbers as far as new named deals and extended business are concerned.

We still have to see what the detailed deal evaluations will show. However, right now it seems that the banking platform market has at least regained some of the momentum it lost in 2008 and 2009. As always, let me know your thoughts. JHoppermann@Forrester.com.

 

 

Deutsche Bank Implements TCS BaNCS For Its International Subsidiaries

Jost Hoppermann

For some time there have been rumors about Deutsche Banking having selected TCS BaNCS for some or all of its international subsidiaries. Today, both Deutsche Bankand Tata Consultancy Services (TCS)published a press release announcing that Deutsche Bank will implement TCS BaNCS Core Banking as its new core banking platform for Global Transaction Banking (GTB). The first international subsidiary, which is located in Abu Dhabi, went live three days ago. I discussed the deal with N. Ganapathy Subramaniam (NGS), the president of TCS Financial Solutions.

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The Right Target State Architecture For Banking Platform Transformation

Jost Hoppermann

Our Q3 2010 Global Financial Services Architecture Online Survey shows that 79% of the surveyed financial services firms are either already working on transforming their application landscape or plan to start this effort by 2012 at the latest. The need for greater business agility and flexibility, new business capabilities, and improved ability to cope with changing markets, offer more differentiation, and increase market share are key drivers for a large share of these financial services firms.

Coping with these drivers requires a large amount of architectural flexibility; therefore, architectural flexibility needs to be an integral element of any decision in favor of or against a given architecture or off-the-shelf banking platform within a transformation initiative. Consequently, it does not come as a surprise that 43% of the surveyed firms expect that more than one-third of their business applications will leverage service-oriented architecture and use business services in the next 18 to 24 months and an additional 19% think that more than half of their applications will utilize business services within that time frame.

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How To Measure Global Success And Regional Relevance?

Jost Hoppermann

Similar to the past few years at this time of year, we are in the process of preparing a global banking platform deals report for 2010. As we have done since 2005 to help application delivery teams make informed decisions, we will analyze deals’ structure, determine countable new named deals, and look at extended business as well as key functional areas and hosted deals — all to identify the level of global and regional success as well as functional hot spots for a large number of banking platform vendors.

In the past, some vendors told us that they are not particularly fond of us counting new named deals while only mentioning extended business, renewed licenses, and the like. Why do we do this, and what is the background for this approach? First, extended business as often represents good existing relationships between vendors and banks as it represents product capabilities themselves. Second, we have asked for average deals sizes and license fees for years, but only a minority of vendors typically discloses this information. Thus, we do not have a broad basis for dollar or euro market shares — and I personally shy away from playing the banking platform revenue estimates game.

An Alternative Counting Model Could Be Implemented Easily . . .

Consequently, available data makes counting new named deals the only feasible way to represent an extending or shrinking footprint in the off-the-shelf banking platform market — and thus to also represent customer decisions in favor of one banking platform or the other. Some vendors suggested introducing weights for the size of the bank and the relevance of the seven world regions (for example, North America and Asia Pacific). We could easily do so, but there are problems with this approach:

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The Co-operative Bank Tops Forrester's 2010 European Bank Customer Advocacy Rankings

Benjamin Ensor

A few months ago I blogged about how the UK’s Co-operative Bank had come top in our UK Bank Content & Functionality Benchmark. The bank has now done it again by coming top in our 2010 European Bank Customer Advocacy Rankings.

Customer advocacy is the perception among customers that the bank does what’s right for them, not just what’s right for its own bottom line. In every country we survey in our Consumer Technographics® research, we’ve found that customers who view their main bank as a customer advocate have more accounts at their main bank, are more likely to consider their bank for their next financial purchase, and are more likely to recommend it to others.

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