Mobile Banking main priority is customer convenience. Almost all financial companies now have some sort of mobile banking app. Few create their mobile presence the way they should. In reality, mobile banking experiences are preferred only second to in-person experiences. Importantly, the sheer number of mobile banking experiences far outweigh the other channels. These facts make it the priority channel for shaping customer attitudes toward your business and improving your customer experiences.
Personalization Can Win Over Gen Z
Mobile Banking apps that focus on custom solutions that simplify Gen Z consumers’ lives will differentiate themselves from the pack.
For example, personalized budgeting tools with a suite of other features like complete investing platforms, plugins to help with investing, and money saving features can attract the younger generation. This generation are more likely to switch financial institutions.
Functionality Can Win Over Other Cohorts
Perhaps surprisingly, Gen Z is more likely than older age cohorts to utilize a branch for interactions. This puts a more emphasis on ease of use for Millennials, Gen Xers and Baby Boomers that use your mobile banking app.
Quick adoption and understanding of your mobile banking app are good measures of positive customer experiences. Create a design that is intuitive and easy to navigate. It is simple to view account holdings, make transfers and deposit checks. Eliminate the hassle of reading an instruction guide or tutorial.
Always work diligently to ensure customers get the most out of your mobile banking app. Using self-help features and chatbots can be extremely powerful tools for building balance between customer support and controlling costs.
Mobile Banking Is The Future
Fortunately, your financial institution likely has an existing mobile app, which can serve as a platform on which to build and improve your brand. Make an effort to identify and address the weakest points of your mobile experience, and you’ll lay the groundwork for process improvement over the years to come.
Your financial institution will only continue to become more and more focused on your mobile experience, so make the investment today to begin refining your app’s interface and think of mobile as the core channel for driving and improving customer experience.