Banks: It's Time to Level Up Your Mobile Game

The Mobile Banking Landscape

People today are glued to their phones, and that includes managing their money. Over half of folks check their banking apps daily, with a quarter of them peeking multiple times a day. It's clear that mobile banking is a big deal.

The Expectation Gap

But here's the kicker: many banks are falling short of what people want.

• Consumers expect more personalized experiences from their banking apps, but 51% feel they're not getting it.
• They're not afraid to switch banks if the app is frustrating.
• Two-thirds say they wouldn't choose a bank with a bad mobile experience.
• More than half would jump ship if their current bank's app wasn't up to par.

Satisfaction and Key Features

But it's not all doom and gloom. Satisfaction with mobile banking has actually gone up, with 84% of consumers happy with their primary financial app.

So, what makes a good mobile banking experience?

• Fraud alerts
• Card control options
• Mobile check deposits

People want protection and control.

The Power of Personalization

Personalization is key, and expectations have surged over the past year.

• Consumers are willing to share more data if it means a better experience.
• They want banks to know them and proactively show it.

But trust is still crucial.

• Most consumers trust their primary financial provider with their data.
• They expect it to be secure.

The Future of Banking

Banks need to up their game to meet these expectations.

• It's not just about having an app; it's about making it intuitive, personalized, and secure.
• The future of banking is mobile, and banks that don't adapt risk losing customers.