More Related Content Similar to Eight Ways The Digital Financial Services Market Will Shift In 2016 (20) More from Apigee | Google Cloud (20) Eight Ways The Digital Financial Services Market Will Shift In 20164. © 2016 Forrester Research, Inc. Reproduction Prohibited 4
We work with business and
technology leaders to develop
customer-obsessed strategies
that drive growth.
6. © 2016 Forrester Research, Inc. Reproduction Prohibited 6
Four types of APIs
Internal Product B2B Open
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PayPal is uses internal APIs
Source: Craft Conference 2015: Evolution of the PayPal API: Platform & Culture
8. © 2016 Forrester Research, Inc. Reproduction Prohibited 8
Xignite sells APIs to FIs and other firms
Source: Xignite
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BBVA and Mondo both use open APIs
Sources: Forrester Case Study: BBVA; Mondo
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E*TRADE is looking to productize APIs
Source: E*TRADE
11. Prediction two: The mobile mind shift will
continue to reshape customers’ behaviors
and expectations.
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How we define the mobile mind shift
The expectation that I can get what I
want in my immediate context and
moments of need.
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Context will drive success in 2016
Context is everything you know about a customer or
prospect at the point of engagement.
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Deconstructing the mobile mind shift
Source: Forrester’s “The Mobile Mind Shift,” Groundswell Press, 2014
Companies
Platforms
People
Processes
Mind Devices Applications
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Discover focused on a key mobile
moment
Source: Discover iPhone app
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Yet customers remain wary of mobile
Source: Discover iPhone app
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How we define cross-channel
Any instance in which a customer or
prospect moves from one touchpoint to
another when completing an objective.
20. © 2016 Forrester Research, Inc. Reproduction Prohibited 20
How we define shared finances
Any situation in which a person acts as
an observer of, partner in, or proxy for
another person’s finances.
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Financial firms will re-engineer in 2016
Source: Forrester’s Mobile Banking Strategy playbook
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BBVA partnered with Dwolla using an API
Source: Forbes
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Personalization has been limited…
Source: Chase secure website
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…though that is starting to change
Source: USAA Savings Coach app
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Key takeaways and what it means
1. Execs at financial providers will spend more on
(and expect more of) APIs
• APIs are a means, not an end
2. Mobile will play a central role in strategy
• Apps & sites will act as catalysts & connective tissue
3. Firms will take iterative approaches to digital
• Test & learn will matter more than any one strategy
31. Have questions for the presenters or
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Email us at webcasts@apigee.com
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