The document summarizes predictions for the banking and financial services industry in 2016 from a presentation by Forrester Research. It predicts that (1) APIs will become more prominent for both internal use and as products, (2) mobile expectations will continue reshaping customer behavior, and (3) cross-channel experiences and shared finances will surge in popularity. The presentation provides examples from companies like PayPal, Xignite, BBVA, E*TRADE that support these predictions.

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3. Today’s Presenters
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©2015 Apigee. All Rights Reserved.
Peter Wannemacher
Forrester Research
Brian Pagano
Apigee

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We work with business and
technology leaders to develop
customer-obsessed strategies
that drive growth.

5. Prediction one: APIs will take center stage.

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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

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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

17. Prediction three: Cross-channel banking
experiences (and expectations) will surge.

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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.

19. Prediction four: Banks and disruptors will
push into the shared finances market.

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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.

21. Prediction five: Executives will move
resources to back-end initiatives.

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Financial firms will re-engineer in 2016
Source: Forrester’s Mobile Banking Strategy playbook

23. Prediction six: Real-time will go prime time

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BBVA partnered with Dwolla using an API
Source: Forbes

25. Prediction seven: Customers will demand
personalization… without realizing it.

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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

28. Prediction eight: Bank executives will
make better use of analytics

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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

30. forrester.com
Thank you
Peter Wannemacher
@p_wannemacher
pwannemacher@forrester.com

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