Most Indian banks offer worst customer experiences on their mobile apps: report
New Delhi, Aug 30 (IANS) Most Indian banks are falling behind changing customer needs on their mobile apps, doing too little to help customers understand their spending and debts, create useful budgets, receive personalized insights, get proactive advice, track their health finances and monitor their financial lives, a new report has revealed.
Indian banks have the lowest average score in money management capabilities. In fact, no bank scored above 60 in this area of mobile banking, according to the latest Q3 2022 report from global research firm Forrester.
Despite improved navigation, most Indian banks still struggle to implement good search in their apps, such as when searching for app features or a particular transaction, according to the report.
More and more Indian banks are now posting a privacy policy, but this content is wordy and difficult for the masses to consume.
“Many banks struggle to design rich apps well. A good mobile banking experience strikes the right balance between useful features and a great user experience,” the report said.
In 2021, 72% of Indian adult online customers said they had used a mobile banking app for their banking in the past month, and the number of people using mobile only is increasing.
“New features appear to be integrated into older parts of the app and often look completely different. Adding a plethora of newer payment options makes the overall payment experience disjointed,” the Forrester report said. .
The user experience of Indian banking apps has improved significantly since 2020. Many have newer, cleaner interfaces that make it easier to navigate and simplify payments by offering a combined search for registered payees, regardless of the payee’s bank.
“But the main concerns remain,” the report said.
–IANS
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