Set-up issues hampering US m-banking take-up

Set-up issues hampering US m-banking take-up

American banks need to improve instructions and set-up processes if they are to attract customers to their mobile services, according to research from Change Sciences Group.

In a review of the mobile sites offered by 10 leading banks, the firm ranks Bank of America as the best, followed by Citi and Wells Fargo. HSBC comes bottom of the list, narrowly beaten by SunTrust.

Change Sciences Group says that 60% of sites fail to answer at least one question that users have. Meanwhile, 90% lack content that some users consider persuasive and 30% have some navigation design challenges.

Steve Ellis, Change Sciences Group, says: "Consumers are wary of new technologies, expecting set-up hassles that outweigh the benefits of the service. With mobile banking, the pool of early adopters is shrinking. The burden is now on banks to make mobile banking set-up clear and easy."

Comments: (1)

A Finextra member
A Finextra member 19 October, 2010, 16:17Be the first to give this comment the thumbs up 0 likes

The success of bank of America has come from their "triple play approach" to mobile banking; mobile web, Apps, and SMS banking. This approach covers the spectrum of users from the low-end WAP phones to the high end Smartphone customers.

This approach is not a one size fits all. US Banks are currently racing to do 2 things in their mobile strategy; create brand awareness or to transfer existing web services onto mobile banking. Both lack an understanding of their mobile customers and of identifying the most important user experience question "What do my customers want to do on mobile first"