09/05/2024 | Press release | Distributed by Public on 09/05/2024 10:38
Sep 5 2024
According toForrester's Digital Experience Review™: Europe Mobile Banking Apps, Q3 2024, 85% of European online banking customers use mobile apps frequently. However, to optimize the mobile banking experience, European banks need to implement more robust fraud and security measures, focus on inclusion and accessibility to deliver customer value and earn trust, and deploy more personalized, engaging and effortless financial capability tools to help customers take better control of their finances.
Forrester evaluated the mobile apps of 11 European banks to gauge the effectiveness and ease-of-use for each mobile banking experience. These banks included ABN AMRO Bank (Netherlands), Bank Millennium (Poland), Banco Bilbao Vizcaya Argentaria (BBVA, Spain), BNP Paribas (France), Handelsbanken (Sweden), Intesa Sanpaolo (Italy), Lloyds Bank (UK), PKO Bank Polski (Poland), Revolut (UK), Santander (Spain), and Swedbank (Sweden).
The apps were scored across 18 customer scenarios, including managing finances, moving money, saving, and accessing help and support, which were combined with the results fromForrester's Banking Customer Experience Index Rankings, as well as findings from unmoderated usability testing with 100 customers of the included brands.
Key findings from the research include:
"A small number of leading European banks are offering innovative digital services and leveraging AI to transform their mobile apps, setting the stage for future beyond-the-app experiences," said Aurelie L'Hostis, principal analyst at Forrester. "However, our reviews indicate that significant weaknesses persist. Banks must work on delivering a more secure and inclusive mobile banking experience that promotes trust and financial wellbeing. Ultimately, as customers continue to shift to apps to manage their finances, banks need to differentiate their mobile experience and find ways to demonstrate added value to customers to drive loyalty."
To access this research or arrange an interview with a Forrester analyst, please contact [email protected].