Are Banking Apps Meeting the Mark on Personalization & Accessibility?

Are Banking Apps Meeting the Mark on Personalization & Accessibility?

The discourse around personalization in banking often centers around product features.

But while tailoring accounts, loans, and other products to individuals' lifestyles is undoubtedly important — according to MX, 48% would happily give banks more data in exchange for more personalized service — enabling customers to do this to the interface itself matters, too. 

For one, putting the individual in charge of the way their banking app looks and feels improves the user experience, boosting loyalty, trust, and engagement. 

More to the point, for those with accessibility needs, customization can be the difference between financial independence and having to rely on others to do even minor tasks like checking their balance. 

So how are banks faring in this often overlooked but significant component of the digital banking experience? 

Here's what the data from FinTech Insights tells us. 

A note on the data

 

For our deep dive into customization and accessibility, we've looked at 211 banking apps: 87 in the US, 53 in the EU, 18 in the UK, 16 in Canada, 24 in Latin America, 4 in Turkey, and 9 in Asia Pacific. 

In total, we examined eight customization functionalities and three accessibility functionalities. 

The customization functionalities are...

 

Read the full article and the findings of the research on the Financial Brand

Book a free demo to explore more about FinTech Insights and its capabilities.

 

Alexandros C. Argyriou : CEO of FinTech Insights
Alexandros is the CEO of FinTech Insights, the AI-powered competitive analysis platform for digital banking leaders. FinTech Insights has helped some of the largest banks and financial institutions in the world with digital transformation projects. The platform exhaustively analyses 500K+ legacy banks' and fintechs' user journeys and lets you experience them just as a customer would, so you can find out exactly how your competitors have addressed common challenges, build on their success, and learn from their mistakes.
fintec-logo-blurry

Build a digital banking strategy that can't be challenged

Let's show you how FinTech Insights can help you wow your customers, on every login.