Mobile Banking Series: How to successfully implement increased app functionality

Transcription

1 Mobile Banking Series: How to successfully implement increased app functionality Contents 1. Report objectives and methodology 2. Sample pages from the report 3. Mapa Insight Series: Report schedule Contact About Mapa Mapa Insight Series Find out more about our research:

2 1 Report objectives and methodology Objectives: The key objectives of the research was to: Explore the current state of play of mobile banking app navigation, in particular best in class implementation and trends Provide examples of great self-servicing features that allow customers to do more within the app and show what features have been trending over the past 12 months This report will feed into internal planning processes by providing a strategic understanding of leading tablet banking apps as well what is happening in the marketplace overall. Furthermore innovative examples and approaches can be used to gain inspiration as well as strengthening existing business cases. Methodology: Based on our existing knowledge of mobile banking app offerings in the market coupled with complimentary research to uncover other initiatives we have selected an extensive list of examples that demonstrate best in class app and features as well as key trends. Lastly, we put our heads together and came up with a list of our favourite non-banking apps with analysis and insight into how banks can look to implement certain features to enhance the customer experience. Report structure: A. Objectives and methodology B. Executive summary Navigation and design 2. Servicing 3. Non-FS apps C. Conclusion Page 2 Mapa Research April 2015

3 Page 3 2. Sample pages from the report

4 2 Navigation and design: Implementation of nested navigation Removing the static bottom navigation and implementing nested navigation is the leading trend over the past 12 months. The nested navigation allows banks to segment journeys and tasks in an easy to digest manner, vital as banks add more and more functionality within the apps. Bankinter (ES) and NAB (AUS) are two banks to have made the shift, launched as overall refreshes. In terms of placement, left hand side navigation is most common, but right hand side also exist in some cases as seen with Bankinter. When changing navigation, it is essential banks inform customers via in-app guides or first time tours. Bankinter (ES) Landing page after login shown above right and main menu expanded above left. Within the nested navigation there are quick links to Favourite Beneficiary, Manage Notifications and Conversation as well as Global Overview, Bankinter Products, click-to-call and Branches and ATMs NAB (AUS) Left: Upon first login customers were shown an overlay of the changes including explaining why introducing the new navigation faster access to more features. Middle: Nested navigation expanded Right: Landing page after login Page 4 Mapa Research April 2015

5 2 Servicing: Quick balance and transfers before login As a final example covering this feature we want to highlight how Chase (US) nicely promotes their quick balance feature on the app start page. Customers are encouraged to Swipe for account preview. If doing so you get to see what the information would look like if using the feature, a good way to encourage customers to use the service. Start page Illustration of feature in action Customer prompted to login Page 5 Mapa Research April 2015

6 2 Servicing: Product management Freeze a card Discover (US): A great feature within the app allows customers to put a temporary freeze on a credit card. Found under the Manage cards section in the navigation, customers are brought to an overview page of all active and inactive cards. When customers click on a particular card they are then provided with the status of the card and options to reactivate the card, freeze the card and report the card lost or stolen. Three options; freeze a misplaced card, freeze and replace a lost card and reorder a stolen card with a new account number. Customers do not need to further authenticate to complete the journey. Page 6 Mapa Research April 2015

7 2 Non-FS apps: British Airways Key points: Design and personalisation make the app fun to use while providing a great hub for management Immaculate design and intuitive navigation It has as personalised home screen featuring your next flight including weather on arrival, your most recent flight search and your next tracked flight. For some destinations the background image will reflect your next flight as seen below. Cross sales activity related to your next flight What banks can learn from this: The personalised home screen gives customers access to the most important information. In some instances banks include too much information with a lack of focus on content relevant to the customer. The app has identified several pain points in the customer experience when flying, such as checking in, choosing seats and viewing departure times. All of these are addressed within the app. Home screen No upcoming flights Home screen Information about when check-in opens. Image reflecting destination. Home screen Scroll down. Weather at destination and option to upgrade. Home screen Scroll down. Upcoming flights and recent searches shown. Navigation menu Nested navigation in expanded mode. Page 7 Mapa Research April 2015

8 3. Mapa insight series: Reports schedule 2015 Page 8

9 3 Mapa Insight Series: Report Schedule Tablet Banking Series: A deep dive into five standout initiatives 2. SME Banking: How to win share through successful differentiation 3. Mobile Banking Series: State Of The Market 2015 Part 1 4. Under Attack: Assessing The Disruptive Threat In Retail Banking 5. Building A PFM With Mass Market Appeal 6. Mobile Banking Series: State Of The Market 2015 Part 2 7. The Digitization Of The Branch 8. The Promise Of Wearables: An Internet Of Things In Banking 9. An Engagement Banking Master Class 10. Digital Banking Security Insight Series, 4th Edition 11. Ten Things Digital Teams Should Do In 2016 Page 9 Mapa Research April 2015

10 Page Contact details

11 4 Contact Details Authors Meaghan Johnson Associate Director, Consultancy Subscription and Consultancy Enquiries Ross Methven Director of Consultancy Meaghan Johnson Associate Director of Consultancy UK Offices Mapa Research HQ 4 th floor Turnmill street London EC1M 5QP Tel: The Watchtower St Cuthbert's Churchyard 7A Lothian Road Edinburgh EH1 2EP Tel: +44 (0) ross.methven@maparesearch.com Management Mark Pavan Managing Director mark@maparesearch.com Gregor McKelvie Managing Director gregor@maparesearch.com Ross Methven Director of Consultancy ross.methven@maparesearch.com International Offices Asia Pacific Mark Donohue Regional Director Tel: mark.donohue@maparesearch.com Nordic Gustavslundsvägen 143 5tr Stockholm Sweden Tel: +46 (0) nordics@maparesearch.com Page 11 Mapa Research April 2015

12 Page About Mapa

13 @ About Mapa Use our social media resources to keep ahead of the game OUR CLIENTS Subscribe to our RSS feed Follow what we are saying on Twitter Join our LinkedIn Group: Digital Banking Innovation Subscribe to our free e-newsletter Mapa Market Monitor Like us on Facebook! Or just see what is new in Mapa Research Page 13 Mapa Research April 2015