As today’s connected consumers demand mobile access to their favorite brands, banks are in a position to respond with apps that are rich with features and provide some services that used to require a branch visit, such as account opening.
For the most part, financial institutions are meeting the needs of their mobile-savvy customers. But the question now becomes how banks and credit unions can differentiate their mobile banking apps to keep their customers and members engaged and provide them with an experience similar to using apps from Amazon, Starbucks and Uber, just to name a few. As consumers demand more access to their favorite brands at all times, financial institutions are trying to oblige. By Will Hernandez on Retail Customer Experience
Rapidly Growing Use of Mobile Wallet Apps in India
The growing adoption of smartphone and mobile internet has given a much-needed boost to mobile wallet industry in India. Players like PayTM, MobiKwik, Freecharge are all set to take the charge of the next revolution in mobile space.
In a country like India with a massive user base of 239 million smartphone users, it comes as no surprise that smartphones have assumed the mantle of primary Internet gateway for a majority of Indians. Smartphone proliferation has directly influenced a change in the behavior of the Indian audience. By Amartya Baidya on DazeInfo
63% of Our Transactions Happen on Mobile and NetBanking platform: Nitin Chugh
Nitin Chugh, Country Head-Digital Banking, HDFC Bank discusses the digital evolution of the bank and explains how it’s tapping into the startup ecosystem:
“HDFC Bank started its digital journey way back in 1999 with the launch of its internet banking platform. In 2000, we became the first bank in the country to launch mobile banking.
The only channel available at that time was SMS, so we launched SMS-based mobile banking as the first step.
Then in 2011 we took a major step in the area of mobile banking. We realised that the mobile phones available in the market were browser- friendly and allowed the users to browse the net conveniently enough. So we introduced the browser- based mobile banking.” By Sneha Jha on The Economic Times
Who’s Leading the Mobile Banking Switch?
People in London are the most likely to manage their finances using a smartphone, according to a survey of consumers in England and Wales. People living in London are the most likely to manage their finances on a smartphone, according to research from Paytm.
Research of 2,500 adults in the UK, carried out by TNS, found that 60% of Londoners use mobile devices to manage their accounts. Londoners just came out ahead of the Northern Irish, with 59% of the latter carrying using mobile banking. By Karl Flinders on Computer Weekly
Today More Than 60% of Your Customers Are On Mobile
“61% of Your Potential Customers Leave and 40% go to a Competitor, if Your Website is Hard to Read.” says Google about mobile.
Get a Mobile-Friendly Version of Your Desktop Website, complete with your Logo, Texts, Images etc. in about 25 Seconds (please note that it will indeed take a few seconds).
Today, more than 60% of your potential customers are on mobile devices. Thus optimizing your regular, desktop website for mobile phones is a MUST. If Your Website Is Not Mobile Optimized, You Are Probably Losing More Than Half Of Your Potential Customers!
- Mobile Banking Continues To Evolve by Will Hernandez on Retailcustomerexperience.com
- PayTM, Freecharge And Mobikwik: The Dawn of Mobile Wallet Apps in India by Amartya Baidya
- 63 percent of our transactions happen on Mobile and NetBanking platform: Nitin Chugh by Sneha Jha on Cio.economictimes.indiatimes.com.
- Londoners Lead Mobile Banking Switch by Karl Flinders