Design is the new differentiator in mobile banking
As understanding of basic mobile banking applications increases and the differentiation between mobile banking apps becomes less defined, the importance of mobile design takes center stage. The key is to combine functionality with simplicity.
Ask people about their favorite apps, and you’ll get a slew of answers: Instagram, Yelp, and Google Maps. What you aren’t likely to hear is, “my bank’s app.”
A study from the Federal Reserve shows that there are untapped markets waiting for mobile banking. Millions of consumers are going to start banking on mobile in the next twelve months. But millions more aren’t interested.
Financial institutions have done a fairly good job at getting their applications onto their customer’s phones. They’ve done a far worse job at generating enthusiasm around their mobile offerings. A big reason for this lack of enthusiasm comes down to bad design: clunky UX, confusing UI, difficult logins, unattractive graphics and an overload of information frustrate many customers, and keep others away.
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