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Celent Banking Newsletter, May 2013

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24 May 2013
Boston, MA, USA

From the Senior Vice President

In The Graduate, Dustin Hoffman's character is a given a one-word piece of advice by a well-intentioned family friend: “plastics.” Celent's one word for our clients is: “mobile.”

With no shortage of interesting technological innovations, mobile is the development that stands out, by virtue of its speed of change. The individual is driving this change in her many roles: consumer, influencer, and employee.

As consumers are exposed to useful and enjoyable mobile experiences from retailers, airlines, and even their thermostat (see nest.com), they're demanding more from their banks and shifting their patterns of interaction. This will have profound implications for banks' ongoing channel mix, as noted in Bob Meara's report Branch Boom Gone Bust: Predicting a Steep Decline in US Branch Density.

Influencers, typically using social media, are increasing their sway. Their posted views about banks are often skewed toward the negative. When was the last time someone tweeted that they had a "perfectly decent" interaction with their bank? Banks must develop strategies to deal with this proactively.

At many companies, personal devices are turning IT on its head. Employees have begun asking why they can't have the same tools at work as they have at home. As corporate customers ask this more frequently, banks are refining and accelerating plans to bring increased functionality to their corporate clients, particularly in the mobile space.

We're excited by the ongoing developments in mobile and their dramatic implications for the bank ecosystem. Please keep in touch with your thoughts and queries. As always, if you've got specific topics you're interested in having Celent research, please let me know.

All the best,

Dan Latimore
Senior Vice President, Banking Group

Chart of the Month

From the Celent report Branch Boom Gone Bust: Predicting a Steep Decline in US Branch Density

Celent Published Reports


Research in Progress

  • The Corporate to Bank Connectivity Market
  • The Future of Bill Payment Solutions in Online Banking
  • Core Banking in China: Update
  • Customer Analytics in Banking: Why Here, Why Now?


Events

11 June 2013
Celent Banking Webinar
Branch Boom Gone Bust: Predicting a Steady Decline in US Branch Density

17 June 2013
Celent Banking Event
New Imperatives for Omnichannel Delivery
New York, New York

25 June 2013
Celent Asia Webinar
Big Data Strategies in the Chinese Banking Industry

26 June 2013
Celent Banking Webinar
Launching NFC Payments: Emerging Lessons from Recent Implementations

3 October 2013
Celent Conference
What's Next: The Search for Disruptive Innovations
San Francisco, CA

Shaping Our Agenda

What would you like to see on Celent's research agenda? Email us at info@celent.com with your suggestions.