Adoption of mobile banking has been wonderful, but its usability among the average people particularly at the rural areas are still challenging.
The banking world is on the lookout for the realization of 2011 Juniper Report that says mobile payments would hit $670 billion by this year, 2015. Mobile payments include money transfers, mobile shopping and near-field communication (NFC) transactions. Global mobile payments in 2011 were just $240 billion.
That will be an increase of $430 billion within four years. That’s going to be a significant jump, but global use of mobile banking can surpass the predictions we currently have if financial firms and its partners consolidate on their efforts in the area of developing apps that will engage users.
Here are 10 ways to better engage app users in 10 Seconds, a well-researched e-book put together by localytics.
Highlights of what you get from the e-book are:
Apps Users’ Education
Banking customers need information, instructions, or guide on how to use mobile banking apps of their bank. Apart from the enlightenment of the apps users, consumer education will also give the financial organisations the adequate information they need to promptly attend to customers’ challenges.
Motivation is another way to encourage banking app use, but that isn’t enough. If a customer doesn’t know how to carry out simple transactions on his/her new banking apps, it’s either he uninstalls (deletes) such app, or abandon it on his device. What’s essence of an app that cannot serve what it’s meant for, afterall?
Customers want apps that will meet their financial expectations without headache, without consistent crash of the apps.
An illustration of users education can be found on LinkeIn Apps where screen orientation is created for new users. It’s a guide for new users. It also offers the ‘SKIP” options for someone who’s familiar with the app. It’s not just LinkedIn that has incorporated explanation options in its app, Yahoo! also has three-screen orientation for first users.
Banking institution can move in this direction. When you open some banking apps, the first thing that hit the screen it username, password, then with option of transfer funds, buy airtime. What about the first users? Banks should have consumer education their apps in order to improve its use.
Designing Multi-Purpose Mobile Banking App
Financial institutions need to work closely with great app developers who can come up with apps that can understand the users’ needs. After that extensive testing is needed so as to give the developers an insight into areas that need improvement. Favourable user experience for a first user will encourage him to come back, and even persuade a friend.
Extensive testing on different model of devices is needed to make sure that “apps and mobile sites work in a mobile context.” To achieve this user-centered app is more important than an app that’s in the app store just to fulfill all righteousness.
Motivate Mobile Banking Customers
This is what one of the banks in Nigeria Access Bank Plc calls, “Download and Win Promo” aimed at encouraging customers to use electronic payments on mobile channels. The bank rewarded its customers for downloading and using the bank’s new mobile banking application.
This is what localystics calls “mobile-specific rewards.”
Download the free e-book here