Design Tips to Increase Satisfaction in Banking Apps – Part 1 of 2

Design Tips to Increase Satisfaction in Banking Apps – Part 1 of 2

Retail banking consumers now prefer using their mobile devices more than any other bank interaction, which makes a mobile app a primary component of overall customer satisfaction. With greater ease switching banking providers at a moment of dissatisfaction, banks need to place extra emphasis on keeping their customers happy and loyal. This starts by giving customers the best tools available and a user experience that helps them access and navigate their banking needs without difficulty. Read more about our design tips for banking apps below. 


For the first section of this two-part series, we will cover examples of best practices that we have seen play a role in facilitating engagement and improving the user experience.

Any questions surfacing as you read? Give us a ring! You can always connect with us here.


Search & Navigation Part 1

Content Part 1

Guidance Part 2, coming soon

Privacy & Security Part 2, coming soon

Appearance Part 2, coming soon



Search & Navigation


According to J.D. Power, ‘Ease of Navigating’ is the key differentiator among top-performing mobile banking apps. If a consumer can find what they need in the app, this often yields a happy customer. This satisfaction can also impact bank operations by reducing calls to support centers with potentially aggravating wait times.


Let’s jump head first into some easily-executed ideas to help improve your app’s search & navigation as early as today.


Easy Login


Biometric logins such as fingerprint, face, or voice can facilitate a client’s access to their account.


Personalization Capabilities


Some banks give the user the ability to customize their application experience to their needs making each visit one that addresses their specific needs.


Using Navigation Icons with Label


An icon is meant to be universally recognized, but in many cases, they are not. It’s always a safe bet to provide a label next to the icon to provide clarity.



Use Plain & Simple English


Avoid using branded names that might be intuitive to your company, but not to a user. In short: use plain English when possible.




Transaction History Search


Most banking apps default to filtering transaction history by date. Giving the user the ability to search their account is one more way to facilitate finding that specific transaction they have in mind.



Appwide Search


Few banks offer app-wide search to locate features & information. It might just be what your clients needed to discover new or undiscovered features.



Clear ‘Back’ Access


Avoid using a home icon or cancel in place of a back.



Autofill/Type-Ahead Searching


We continue to be surprised at the number of banks not make use of this simple yet effective interaction. Your customers will be thrilled to have it implemented.




The content that users access in-app should be concise, easy to find, easy understand, and help them reach their goals—simple right? Here are a few ideas:


Key Information Front and Center


Some applications give users the choice to view account their account balances before login.




Helpful Services


Provide customers with additional services that could help them reach their financial goals.




Real-Time Alerts


Use real-time alerts to keep customers informed on important account updates such as direct deposits, personal information changes, and bill due dates.




Avoid Hiding Information


Some banks hide interest rates behind an extra tap or elaborate application process. Be nice to customers and let them know what they need to know.




Avoid Jargon-Heavy Content


Avoid words such as Debit, Payee, APR — instead use Withdrawal, Recipient, Interest Rate.



Guidance Part 2, coming soon

Privacy & Security Part 2, coming soon

Appearance Part 2, coming soon


Editor’s note: 

We know you’re thirsty for more. Part 2 will be coming very soon! While you wait, check out our latest thoughts on UX Strategy for Banks. 

Have any additional questions or want to discuss what Shockoe can do for you? Click here to connect with us. 

Adjustments to Your Bank’s UX Strategy

Adjustments to Your Bank’s UX Strategy

Among the sea of social media apps, news apps, and photo book-making apps I use – I have three kids! –  is my mobile banking app. I bank at a “traditional” or “retail” bank, meaning it has branches, versus an online-only bank. That being said, I never go to a branch. Anything I need to do I can do using my mobile banking app: check my transactions, transfer money between accounts, or deposit a check. Believe it or not, these things that users have come to expect out of their mobile banking experience, I have had to figure out rather the hard way with my current mobile banking app. The user experience of my bank’s app has never been truly intuitive, though it has gone through multiple iterations. Banking apps should not make it difficult for customers to complete basic tasks. By continuously putting user experience first and applying the following adjustments to your UX Strategy, your bank is guaranteed to drive revenue through customer loyalty. 


The first time I used Venmo, an app designed solely for people to be able to electronically send money, I immediately noticed the intuitiveness of the app. A few months after I started using Venmo, my bank came out with an identical feature. I could send money to friends or family no matter who they banked with. That’s as much as I know about it because the idea of using my bank’s clunky app for a task I found myself doing frequently seemed overwhelming, so I stuck with Venmo.


As more FinTech companies continue to disrupt, develop and innovate mobile banking applications, it will occur at the expense of lost market share for traditional banking institutions.The rising FinTech sector is making it easier making it easier for their customers to do more with their money.


At Shockoe we have advised our financial industry partners to consider two adjustments to their UX strategy as a result of this changing environment:


Implementing machine learning.


I, like many others, have predictable spending habits. I shop at the same places, I pay my mortgage, and I head to the grocery store at the same time. To keep an eye on my spending, I log into my banking app quite regularly.


The reason I point out these things is that this is all data that the banks can use to help make me a “stickier” client. I get random ads sometimes when I log into my account, but they don’t happen as I take an action, nor are they personalized to me.


Banks are leaving a great opportunity to interact with their customers on the table. They could ask questions about unusual spending to improve security and more importantly learn about shifting habits. e.g. “It looks like you made a purchase at Wegman’s last weekend, was that you?”, the app learns that this is now part of my purchase history and the algorithm changes. Similarly, new products could be touted as client data captures what looks like a night out: “Looks like you left the kids at home and recently went to the movies! Did you pay your babysitter with our easy system to send money electronically to people?”


There should always be a way to turn these kinds of alerts off, but banks know so much about their users, and using machine learning capabilities is one way they can use that data to try to engage more with their clients.


Making banking apps more social. 


A big part of Venmo’s popularity comes down to the fact that they’ve tapped into the special sauce of why social media is so popular/addictive. You can interact with people, keep up with their latest transactions and see why they’re sending or receiving money for. Obviously, security is n essential consideration in banking, but for people that are willing to share, this is another outlet for banks to engage their audience, encourage product use, and compete in an increasingly competitive FinTech industry.


Do people want to be able to brag about their savings account interest rate? What else are people comfortable with being able to show off in regards to their banking relationship? We work with our clients to run user group feedback sessions to find the answers to things like this. User feedback should be an essential consideration in designing an engaging user experience that extends beyond logging in and checking on account statements.


Banking apps should no longer think of themselves as a one dimension account statement viewing portal. FinTech will eventually edge them out of services such as peer to peer payments (venmo), machine learning (mint), and potentially edge them out of being a provider at all in lucrative services. I am a project manager at Shockoe and I’ve worked with two large banking clients as part of my tenure here, and these thoughts are coming from meetings with them and our approach helping them stay engaged with their user base and attract more users through their mobile app solutions. What’s cool is our clients know we work together to create mobile applications that people use, love, and remember, and that sometimes the problems are even solved by the project management team.

How to Choose the Right Software Development Firm

How to Choose the Right Software Development Firm

Thousands of companies have adopted enterprise mobile apps during a time when they were becoming popular and they wanted to “check the box” that they had an app. While most companies understand the benefits of mobile technology, unfortunately, some have failed to exercise due diligence when developing their app and selecting the proper vendor for their project. There are many great mobile development firms out there, but making sure you have a good fit for a particular project is the most important factor to consider when selecting a vendor. Let’s go through the checklist of items that should be considered any time your organization wants to develop an enterprise app.

1. Does the developer have previous experience with similar projects?

This is an important question to ask because the quality and agility of the project will be significantly better if the mobile dev team has completed a similar project before. For example, if you’re in the banking industry, look for a firm that has made banking apps before. They may have made other great apps for other industries, but that doesn’t always translate into a successful project in yours.

2. Does the vendor have a dedicated UI/UX team?

If the answer is no, immediately disqualify that vendor. Huge mistake companies have made was neglecting the end-user experience. The “it doesn’t matter if it looks that great because they have to use it anyway” line of thinking is counterintuitive with the premise of increasing employee work performance and satisfaction. A dedicated and experienced UI/UX team will make sure the app is intuitive. After all, a user interface is like a jokeif you have to explain it, then it’s not very good

3. Look at customer reviews.

Most mobile agencies, if they have been in the industry long enough, will have customer reviews. These can be found on sites like Clutch and GoodFirms and can provide great insight into how successful similar projects were and how easy it is to work with their team.

4. Get to know the team.

When selecting the right firm, get to know the team that will be assigned to your project. Typically a team will consist of a couple developers, a designer, and a project manager. It’s important to get to know these people to determine how easy it will be to work with them, and also to decipher if they are qualified to take on your project.

5. Look for someone who is concerned with the overall objective, not just the app.

Mobile agencies need to understand the “big picture” that the client wants to accomplish. Some developers may get caught up with the app development and making it really “sweet,” which is good, but clients don’t care about how cool the app is if it doesn’t address the business objectives it is supposed to help accomplish.

6. Don’t get hung up on price.

The saying that “you get what you pay for” has never been truer than in the mobile dev industry. A huge mistake that a lot of companies have made was selecting vendors who proposed the lowest prices. More often than not, those apps did not perform as desired and business goals were never realized. Make sure the mobile agency you select fits all the other criteria, and then discuss pricing.

7. Ask for a demo.

Even if the app is custom, always ask for a demo of an existing app that is similar to the project you want to be completed. This is the easiest way to determine the quality of the apps that could be developed for your company.

8. Ask a lot of questions.

This seems like a no-brainer, but failing to ask lots of questions was a common mistake made by companies that paid for apps during the initial mobile app frenzy. In an effort to save money by going with the cheapest vendor, these companies instead wasted money on apps that didn’t meet their needs. In the long run, they spent more on app development than they would have had they chosen the best agency for the job instead of the cheapest. Bring in all the internal stakeholders and come up with a list of questions to ask the vendor to make sure no details are left out, which could be detrimental to the project down the line.

9. Do they know your industry?

Mobile agencies that understand your industry and business are invaluable. Instead of just taking orders and accepting the requirements, look for a firm that can challenge your own ideas and provide insight that you may not have thought of before. If they are experienced, they should know plenty about how certain apps work within your business and be able to provide best practices for the project.

In conclusion, after taking everything on this list into consideration, you should be able to narrow down the mobile development firm that is right for your project. Even if your company has had a bad experience in the past, following these guidelines should help you avoid wasting money on an app that in the end does nothing to push the objectives of your business.

Ready to get to know the Shockoe team? Reach out to us and see if we’re a good fit for your next app development project. 

App Microtransactions: The Good, the Bad, and the Ugly

App Microtransactions: The Good, the Bad, and the Ugly

microtransactions-in-app-purchaseThe concept of app microtransactions is not foreign to consumers of mobile technology in the modern app market. Apps that include or require consumers to submit payment for additional features or add-ons have become the norm. This business model has grown organically as a result of users having a hard time deciding whether or not they should spend their hard-earned money on an app. By making an app free and offering the user the choice to pay for additional features as needed, the barrier to entry for new users to download and use an app has been greatly reduced. This model has its benefits, its downfalls, and its unsightly impact on consumers’ wallets.


The Good  

Developers have immensely benefitted from microtransactions. Developers can more easily test the waters of the market with their apps. Instead of overcoming the hurdle of figuring out whether or not their app is a good idea in the first place, they can create a slimmed-down version of it and release it as a free product. After it has been on the market as a free app for some time, developers can access the potential for the app to have continued success. If the app proves to be working, then they can take the time to implement the rest of the features and release those features at a cost to the current user base in a new update through a microtransaction.

Microtransactions have been most successful in the game app market. Games have an advantage over value product apps in that games are inherently more addictive and entice the user to want to win. Developers have a big opportunity here to add “pay to win” add-ons to help their users win by giving them in-game boosts. These boosts usually come at a small cost for small boosts, and can cost upwards of $100 for larger boost packs. This gives developers the opportunity to make more money than they would with the typical $1.99 to $9.99 price tag of most paid apps on the market.


The Bad

While this model benefits developers, it negatively impacts the quality of apps on the market by requiring a microtransaction to unlock more features. Apps are being released to the market that are not full featured and polished, leaving users with half-made apps and wanting more. While it may benefit developers to release apps on this model, it is unsatisfactory for consumers who look for apps to fit their needs but find that the apps lack the features they want.

It may be that you find a free app on the market that you really enjoy, but unless many others find the same enjoyment in the app as you, the developer might not release an update for it. You wouldn’t want to go out and buy a brand-new vacuum just to come home and find that the one you bought will require you to purchase two or three other attachments in order to vacuum in tight or high places when the packaging claimed it was compatible, right? Apps should not operate this way either, or they will continue to deter consumers from exploring and discovering new apps on the market outside of the mainstream apps that their friends and family use.


The Ugly

microtransactions-the-uglyAdditionally, apps that have success with this model are leaving users with the ugly truth that they will need to sink more and more money into an app to get the most out of it. This practice is particularly prevalent in game apps. As I mentioned earlier about developers having a good opportunity to make money, requiring microtransactions in order for the consumer to be successful in an app exploits the addictive nature of the game, and promises the user that by paying money, they will be able to win. Oftentimes these games involve high scores, and consumers will do anything to beat their peers in order to show that they are superior, whether they pay for the app or not.

Over the past few years, there have been many articles about children who are spending thousands of dollars on in-app microtransactions from games such as Clash of Clans, Candy Crush, Game of War, and others. A child in Belgium who was given a credit card by their mother to buy e-books racked up a total $50,000 worth of microtransaction charges in the game Clash of Clans. Another child in England spent $5,900 on the iPad game, Jurassic World, after memorizing their parent’s password for the App Store. While it can be argued that it is not the microtransactions’ fault for these incidents, it is obvious that microtransactions are enabling this behavior.

Microtransactions have their place in the app market when implemented with consumers in mind. Developers can use them as a tool to allow more freedom in the app-creation process. This way, developers will not be deterred from taking the time to make an app that will not be profitable. Making apps is not a simple process, and the reward of economic benefit helps developers feel better about putting forth the effort to make great apps. Microtransactions just need to be done right, and not with the intent to exploit the consumer. Consumers want to feel good about giving an app a chance and not feel like they are just going to be wasting their time by downloading a free app they can’t use. The amount that consumers can invest in apps should be throttled or deferred into donations for the developers to continue making worthwhile apps.

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