As the seasonal hit song declares, it’s the most wonderful time of the year: The time when Forrester outlines its predictions for how the world will change in 2017. In the financial services space, we believe that leading firms will focus on improving customer journeys, while laggards will get distracted by bright and shiny technologies. A gap is emerging between the financial firms that are embracing digital business transformation and those that continue doing things the same old way. Forrester predicts that this gap will only grow wider, as leading firms will experiment with new ways to win, serve and retain customers. According to our 2017 predictions, Forrester believes that: The impact of PSD2 and other regulations will ripple across the globe. European banks and payments companies will spend much of 2017 preparing for the second phase of the EU’s Directive on Payment Services (PSD2). Providers will use application programming interfaces (APIs) to meet these needs as they innovate to counter the threat from disruptors. Firms outside the EU, meanwhile, will watch closely to gauge the results as companies innovate, enable more open API access, and start the shift to real-time payments.
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