Bank Innovation, the nation’s leading blog and social network on banking innovation, and BuzzBack Market Research, a top online research firm, have formed a partnership to publish a new ongoing report about the usage and utility of innovative banking products, such as online banking, mobile banking and alternative payments. The results of their joint research will be made public later this year.

We see the endeavor as critically important, because banks are making substantial investments to develop products like mobile payments and better online personal finance platforms, and this research will will help the industry calibrate those investments – and the expectations that are being attached to them.

The initiative is part of the ongoing efforts of Bank Innovation and its publisher, Royal Media Group, to better understanding global banking innovation. As part of this effort, called the Bank Innovation Monitor powered by BuzzBack Market Research, Bank Innovation and BuzzBack will collaborate on research of the US retail banking market to reveal underlying trends in the key areas of change impacting banking. The result will be a new report highlighting the consumer acceptance of novel banking products, as well as their use of new services, platforms and social media for their financial needs.

The Monitor will be the first publicly available quantification of the usage of the full suite of innovative retail banking products currently being deployed.

“We are pleased to be working with Bank Innovation and Royal Media Group on this important project,” said Carol Fitzgerald, President and CEO of BuzzBack Market Research. “This kind of research is critical to help bankers vastly move forward their understanding of the prospects for their innovations in the years to come.”

To receive notifications about the release of the Bank Innovation Monitor, please email info@royalmedia.com.