Tag Archives: Financial Services

Financial Institutions Need to Earn Customer Satisfaction with the Mobile Experience, Not Buy It

Financial Services Mobile Customer Experience

What does it cost to dominate mobile in banking these days? With consumer behavior shifting dramatically from branch networks to online and mobile channels, the stakes have never been higher for financial services organizations.  Brett King, in his book Bank 3.0, believes that banking will be primarily a mobile and online endeavor in as little as just two years. We know mobile is important to banks, but let’s get back to what it costs… Bank of America (BoA) apparently believes it costs a lot. BoA reduced the number of branches by 6% to 5,151 and grew their mobile user base … Read More

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Usability Perspective: 5 Financial Services Login Tips for a Better Customer Experience

Financial Services Customer Experience Login Tips

Any bank, insurance agency, investment firm, or other financial services institution will tell you that one of the most common task (if not the most common) driving visitors to the site is the ability to log in to their account. Because logging in is such an important key task, it is important that the process be as clear, streamlined, and usable as possible. Here are 5 different ways you can enhance the usability of your login process: 1.) Make login the most prominent thing on homepage by providing the fields directly on the page Because so many of your customers … Read More

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The Changing Front of Financial Services Companies

Financial Services Customer Experience

Financial Services is an industry that is experiencing rapid change with customers reducing their in-person interactions and shifting in large numbers towards digital interactions. The customer journey now takes place on multiple devices across multiple channels. Think about the shift in customer interaction from branch to ATM to web and now to mobile – with each advance in technology we continue to see each transition get shorter than the last.  Keeping this in mind firms need to be able to: Manage the integration between their legacy back-end systems and new customer digital touch points; Monitor emerging competitive threats like mobile … Read More

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Banking on Mobile

Banking on Mobile

Like most consumers in most industries today, banking consumers are becoming more and more mobile. A March 2013 study from Juniper Research indicated that mobile banking users will exceed 1 billion (yes, that’s with a “B”), representing 15% of global mobile handset users, by 2017. And to make even more interesting, the UK research company also stated that around 19% (about 200 million) will turn to tablet use – which should be considered an entirely different experience from traditional (smartphone) mobile – for their banking transactions by 2017. This shift to mobile brings higher expectations for more convenient and easily … Read More

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Are Executives Measuring the Right Thing?

Mobile App Ratings Finance

First of all, there is no wrong thing to measure. Be it behavioral metrics, feedback, or customer experience analytics, they all have their place in strategic, tactical, and operational decision making. However, there is a hierarchy of importance based on desired results that needs to be established. And customer experience analytics reigns prime here regardless of which industry you are in or which touch point (web, mobile, social media, store, contact center, etc.) you are measuring. That is if you want a proven and predictive methodology that provides actionable insights derived from the customers’ perspective. When pulling together the data … Read More

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How “Mobile” Are Financial Services Mobile Site Users?

Financial Services Mobile Apps vs. Mobile Sites

Financial services app users, in contrast to m.site users, are proving to be true “mobile” users, who are more likely to use the mobile application while away from home, work, and school. According to The 2012 ForeSee Mobile Satisfaction: Financial Services Edition, published in November, 2012: 14% percent of m.site users were out and about when engaged with the company, while 23% of app users engaged with the company on the go. While ForeSee research shows that app users are more likely to be engaged while out and about, it also shows they display higher satisfaction (79 vs. 76) and … Read More

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Little Difference Between Mobile Experiences of Financial Services Companies

ForeSee Mobile Satisfaction Index: Financial Services Edition

Today we released the ForeSee Mobile Satisfaction Index: Financial Services Edition, available for download on our website. This study is an important resource as we begin to see the mobile experience playing a critical role in today’s financial services world, which is inherently multi-channel and multi-device, and usage trends suggest that mobile is the future. According to Nielson, two thirds of new mobile buyers are buying smartphones, and they already constitute more than half of all cell phones in use today. These powerful devices will further drive the adoption of mobile financial services. Forrester predicts that the number of US … Read More

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