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Forrester: Digital Transformation in Banking Needs a Platform Approach

Banks recognize the need to own the engagement layer, but their attempts so far have failed.

Banks are currently accelerating massive infrastructure updates in order to adapt to the changing times, but many are taking the wrong approach. Rather than focusing on engagement, they’ve prioritized core banking solutions, and that’s one of the reasons their attempts so far have been unsuccessful. As a result, the vast majority of banks don’t feel prepared to offer the exceptional experiences that customers demand.

Backbase’s exclusive Forrester infographic makes the situation clear: whether financial institutions choose to adopt out-of-the-box digital infrastructure products or custom-build their own solutions, the only way forward is learning to own the customer engagement layer.

So, what will your path to Engagement Banking be?

14% said their organizations have the right technology infrastructure and applications to deliver differentiating experiences.

Forrester