Telephone banking pioneer first direct is now mobile-first

Telephone banking pioneer first direct is now mobile-first

Mobile has become the channel of choice for customers of direct banking pioneer first direct, overtaking desktop interactions for the first time and far surpassing the original dial-in telephony pipes.

The switchover to a mobile majority took place in August and was confirmed in September’s figures.

Joe Gordon, head of first direct, says: “Our customers want an omni-channel approach to banking but they’re now choosing the app as their primary way of managing their accounts.”

On average, first direct’s customers now interact with the bank through digital channels around 25 times more than telephony each month.

“Mobile offers our customers more and more functionality, and we’re seeing a rapid migration towards mobile becoming the digital channel of choice," says Gordon. "We’re seeing fewer calls per customer, but we’re always there with real people to help with complex queries.”
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Comments: (5)

A Finextra member
A Finextra member 31 October, 2018, 12:172 likes 2 likes

As a First Direct customer I'm not surprised that their mobile app is more widely used than their desktop solution. With the mobile app, once registered, you can simply log on with a fingerprint. If using the desktop version, it's a user name; passwrd (or security question) followed by the generation of a security code on your mobile device and then inputting that! I right pain. 

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 31 October, 2018, 18:471 like 1 like

As in the example cited by @Anon, I'm seeing a large and growing "login arbitrage friction" between desktop and mobile web / apps. On the desktop version, my eBrokerage now tells me to enter DOB and PAN # in addition to Username and Password; one of my banks requires Mobile OTP in addition to Customer ID and Password. OTOH, one of my go-to mobile wallets has buried its sign out button so deeply within the app that 99% of its users stay logged in all the time; another mobile wallet now asks me twice if I really want to log out.

Not sure if this arbitrage is a feature or bug but it surely drives more people to the mobile version.

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 31 October, 2018, 18:54Be the first to give this comment the thumbs up 0 likes

I love the expression: "login arbitrage friction", this is very smart! Kudos Ketharaman.

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune 01 November, 2018, 12:091 like 1 like

@David Gyori: TY for the kind words! On second thoughts, "login friction arbitrage" might be a more apt expression. Would you agree?

David Gyori
David Gyori - BANKING REPORTS, LONDON - London 02 November, 2018, 12:221 like 1 like

Agree! Even better.

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