CAMBRIDGE, Mass.--(BUSINESS WIRE)--Jun. 20, 2012--
Responding to consumers’ growing interest in banking from their mobile
devices, retail banks plan to invest more money to enhance their mobile
offerings, according to the first-ever survey of Consumer
Bankers Association (CBA) members conducted by Forrester
Research, Inc. (Nasdaq: FORR) in collaboration with CBA’s Emerging
Channels Committee.
CBA members reported they will spend one-third of their total digital
budget on the mobile channel this year. The joint research project
surveyed digital executives at 19 leading US and Canadian banks. The
findings — summarized in a two-part report, “The State Of North American
Retail Banking eBusiness 2012” — enable eBusiness & Channel Strategy
professionals in the banking industry to benchmark their priorities,
goals, and metrics.
According to Forrester’s Consumer Technographics® data, 17% of US online
adults are active mobile bankers, and new mobile features are gaining
popularity with 22% of US online adults interested in mobile payments.
The Forrester/CBA survey showed that banks’ mobile spending will focus
on three key functions: alerts, remote deposits, and person-to-person
payments. While these executives believe digital wallet initiatives show
great strategic promise and are therefore watching them closely, most
are taking a wait-and-see approach with their 2012 investments.
“Payments are by far one of the biggest opportunities in the space for
both online and mobile as the growth of person-to-person and mobile
wallets continues,” said Brad Strothkamp, Forrester Research vice
president and principal analyst serving eBusiness & Channel Strategy
Professionals. “As these initiatives move forward, digital teams will
need to drive innovation not only internally but also in the vendor
space, especially in areas like digital wallets and revenue-generating
payment products.”
“CBA and our Emerging Channels Committee members are at the forefront of
mobile banking developments, as part of our ongoing commitment to
meeting the needs of our customers,” said Richard Hunt, CBA president.
“These findings illustrate how vital the mobile space has become and how
innovation is driving the retail banking industry.”
Register to receive a copy of the Forrester/CBA report at http://www.cbanet.org/About/Committees/Digital_Banking_Study.aspx.
The CBA and Forrester will detail the survey results during a webinar on
June 21. Register for the webinar at http://eo2.commpartners.com/users/cba_man/session.php?id=9086.
Forrester clients have access to the report via their normal
subscription service.
About Forrester Research
Forrester Research, Inc. (Nasdaq: FORR) is an independent research
company that provides pragmatic and forward-thinking advice to global
leaders in business and technology. Forrester works with professionals
in 17 key roles at major companies providing proprietary research,
customer insight, consulting, events, and peer-to-peer executive
programs. For more than 28 years, Forrester has been making IT,
marketing, and technology industry leaders successful every day. For
more information, visit www.forrester.com.
About CBA
The Consumer Bankers Association (CBA) is the trade association for
today's leaders in retail banking — banking services geared toward
consumers and small businesses. The nation's largest financial
institutions, as well as many regional banks, are CBA corporate members,
collectively holding two-thirds of the industry's total assets. CBA’s
mission is to preserve and promote the retail banking industry as it
strives to fulfill the financial needs of the American consumer.
© 2012, Forrester Research, Inc. All rights reserved. Forrester is a
trademark of Forrester Research, Inc.
Source: Forrester Research, Inc.
Forrester Research, Inc.
Jon Symons, 617-613-6104
Director,
Media Relations
press@forrester.com
or
Consumer
Bankers Association
Deirdre Leahy, 202-552-6371
Communications
Manager
dleahy@cbanet.org
