4 Major UX Failures in Mobile Banking
Digital Next | Industry Savvy

4 Major UX Failures in Mobile Banking

on / by Meghan Horvath

The mantra of boosting trust and strengthening customer loyalty is often repeated but actually achieving that is another story. Many European mobile banking apps for instance fall behind when it comes to delivering on great UX.

With more and more people accessing their bank accounts via mobile app rather than desktop or even offline, it’s crucial that banks optimize their apps for better overall user experience. When frustrations are avoided, banks can see boosts in revenue through ongoing loyalty, deepened trust and increased conversions.

UX Failures

What are banks currently doing through their mobile banking apps that leads to customer frustration?

Here’s what we’ve found.

1. Confusing Icons

From a floating magnifying glass to a haphazard icon of a box with a checkmark, in some mobile banking apps users need to discover what each icon performs through a frustrating trial and error process.

This increases the risk of abandonment and alienates the customer.

While some are self-explanatory, it should not always be assumed that users can identify what exactly certain icons mean.

2. Missing Search History Option

In their Digital UX Review, Forrester surveyed 53 banks and found that only five offer app-wide search.

Users are left needing to scroll to find features through navigation, which is not only more time-consuming but also frustrating if and when, in the end, the feature is not there.

via GIPHY

3. No Autocorrect or Autocompletion

When it comes to mobile apps, the more user-friendly the better.

When users make typos or use words and acronyms not registered in the system, they’re likely to think that what they are looking for is not an option.

4. Unclear Error Messages

People want to feel secure, especially when it comes to banking online. Error messages that are unclear do the opposite.

When banks make clear they are committed to privacy and security, users will feel confident knowing that their personal information and account details are safe.

Optimized UX

What then are banks doing well? When it comes to avoiding customer frustrations in mobile banking, the best banks have optimized UX with a VoC solution.

They’ve identified patterns in user behavior via user feedback and discovered issues before users start looking elsewhere for a mobile banking solution that better fits their needs.

According to Finbar Hage, Head of Data & Analytics at Rabobank,

Implementing Usabilla was a no-brainer for Rabobank; we want to be digitally on the ball and with Usabilla we can make those final steps to optimizing the overall customer experience.

By taking a close look at user feedback, banks can get a reliable review of their app that is not limited to internal points of view as to what works and what doesn’t.

Conclusion

By listening to their customers, banks can get the insights they need to improve their UX and overall drive revenue for their organization. As a next step, banks can evaluate which areas of feedback to prioritize and maintain the process of evaluating UX constantly.

Using a VoC solution like Usabilla, banks can more easily focus just as much on usability as functionality and always stay a step ahead by asking and anticipating customer needs.

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Article by

Meghan Horvath

Meghan lives in Amsterdam as Marketing Content Writer at Usabilla. She’s from Chicago, though likes to pretend she's from Brussels. When she's not cringing at the Oxford comma, she's drinking wine and listening to French podcasts.

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