Mobile banking, which makes it possible to perform practically any banking function from a smartphone, has increased in popularity as consumers continue to rely on mobile devices for everyday transactions. While mobile banking offers a variety of benefits, the security issue is ever-present. Banks looking to offer a mobile wallet function to customers, as well as those currently featuring mobile banking apps, should take advantage of the following tips to provide customers with convenient options they will love.
Ensure it’s easy to use
Ensure your mobile banking app is easy to use. One of the biggest issues surrounding mobile wallets and banking apps in the past few years is that they’ve been challenging to use, difficult to obtain, or a combination of the two. Login problems or similar issues result in customers simply forgoing the mobile banking option and returning to standard practices, or worse, turning to a competitor. The more streamlined and functional the design, the easier it will be to use, and the more customers will download the app.
Make it personal and intuitive
Create an advanced app that’s deeply intuitive and easy for the customer to personalise. Instant bank account access with a simple touch is now available on iPhone 5s and all subsequent iOS phones, making it possible to log in and immediately review checking, credit and savings accounts. Tapping ‘Pay’ to make payments or transfer funds, depositing checks any time of day with a mere snapshot, personalised greeting names and images – these are the intuitive and customisable features customers want from their mobile banking apps.
Keep security a top priority
Make security a constant mobile banking priority, because customisable features and easy navigation are useless if your app isn’t secure. Create the highest levels of security possible within the app, and regularly provide customers with tips on how to stay safe when using it. For example, stress the importance of creating device passwords to avoid easy bank account access should the device fall into thieving hands, as well as logging out of browsers when not using the internet. Avoiding public Wi-Fi, monitoring records regularly, and setting up daily alerts to track account activity are among other security measures that must be stressed to customers.
Avoid unnecessary extra steps
Keep mobile banking apps accessible by eliminating the need to sign into online banking and enabling mobile settings. This extra step is unappealing to most customers interested in making account management as seamless as possible. Make enrolling in mobile banking something customers can do through their phones, and enjoy many more app signups.
Remind customers about mobile app benefits whenever possible. This doesn’t mean bombarding them with emails and text messages about mobile apps, but employees should mention the app when customers are using bank branches. Other ways to remind customers about a mobile banking app include the aforementioned emails and text messages, as well as reminders on online and printed banking statements.
Banks developing or improving their mobile app offerings should pay close attention to reasons why consumers turn to mobile in the first place – ease and efficiency – and keep them top of mind. And since many users are a bit lax when it comes to security, app developers must prioritise user safety to ensure the best possible mobile experience for their customers.
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