Slides presented by Forrester Research's senior analyst Brad Strothkamp in the Backbase webinar webinar: 'The Next Generation of Digital Finance: Banks Need To Be SUPER' held Wednesday, the 9th of November 2011.
Growth will be driven by an increasingly online population, rapid Gen-Y adoption, and rising confidence in online securityGen-Y customers will bring with it heightened expectations for site functionality and ease of use, having grown up around slick iPhone apps and simple interfaces like that of Mint.com.
Like a powerful sports car that is difficult for novice drivers to handle, secure online banking sites of the largest US banks overwhelm users with their power and complexity, paying little attention to user experience faults and providing minimal support. Left unheeded, these issues will limit the breadth of online functionality that most customers are exposed to and raise support costs in other channels as users seek satisfaction there. Most bank secure Web sites today cater more to the needs of experienced users, failing to offer the basic product and service support that new users need to reach a level of comfort and familiarity with the site that encourages exploration and trial.