RSS feed Get our RSS feed

News by Topic

BizReport : Mobile Marketing : July 20, 2016

Financial service firms must up their app game

New research released by Episerver reveals that financial service providers are not meeting consumer expectations when it comes to the mobile experience.

by Helen Leggatt

In their analysis of the mobile capabilities of 40 financial services companies in the U.S. and U.K, Episerver found that 15% do not have any sort of mobile app. More than two-thirds (68%) provided Android tablet apps and 62% provided iPad apps. U.S. financial service companies were more likely to have a tablet app than those in the U.K.

Nevertheless, most of the apps were simply 'stretched' versions of a smartphone app, said Episerver, making it difficult for users to navigate the site. Furthermore, responsive design was only implemented by two in five of the financial service providers.

"In today's digital world, retail banks and insurers simply can't afford to skip out on mobile," said James Norwood, EVP strategy and CMO at Episerver. "From shopping to booking restaurant reservations, consumers now expect everything to be available to them in real-time and on the go, and the same expectation applies to managing finances. Financial services providers would be smart to implement responsive design on their mobile sites and provide applications for all devices to guarantee the highest levels of customer engagement with resulting satisfaction and loyalty."

Of the companies analyzed, American Express (U.S. and U.K.) was found to provide the best mobile experience with a "seamless design and usability across all channels, regions and mobile devices", as well as good use of location services and up to the minute 'Touch ID' security features. The top three is completed with The AA (U.K.) and H&R Block (U.S).

Tags: apps, banking, finance, financial services, mobile

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.