customer review analytics of banking apps 2017
TRANSCRIPT
Customer Review Analytics of Banking Apps - 2017
Turing Analytics
Highlights of Analysis
6700 Customer reviews analysed from Google Play Store
20 top Indian Banking and UPI apps sampled during November-December 2016
Overall
Ease of Login
Usefulness
Fund Transfers
User-friendliness
Stability
Slow
Network issue
Feature requests
Other issues
0 25 50 75 100
46
46
46
47
38
52
45
56
38
47
Key Findings
Average scores# of Banking apps on critical components metrics
# - Refer Appendix for explanations of scoring used
Overall Score below 50 Shows Negative
Sentiments
Critical Issues60% of customer satisfaction can be attributed to “User-friendliness, Usefulness and Stability” of
the app
22% users have faced some bugs or
errors in banking apps
6 out of 10 UPI apps have negative
Net Promoter Score
22% users faced issues while logging in UPI apps
Mobile Banking Apps
These top scoring apps consistently score high on each of 8 component matrices
iMobile Overall Score - 79
Contribution to overall customer satisfaction
3%6%6%
11%
16%
19%
19%
20%
Usefulness StabilityUser-friendliness Ease of LoginFund Transfers SlowNetwork/Platform issue Other issues
Kotak Bank Overall Score - 72
UPI Apps
PAYZAPP Overall Score - 70 Overall Score - 69
• There are no clear winners among UPI apps.
• Even top rated apps have of login issues and technical errors
Contribution to overall customer satisfaction
2%3%4%9%
10%
15%
23%
33%
Ease of Login StabilityUsefulness User-friendlinessUPI/Additional features Network/Platform issueSlow Fund Transfers
What users are saying
• First time registration, onboarding, login, OTP and network issues are among the most common problems
• A Good number of customers have enquired about VPA, UPI integration with banking app
• More people want integration with bill payment and recharge options inside the same application
• ICICI is the most preferred app amongst all and used as an example by customers in reviews
• Customers want their Credit/Debit cards linked with their payment options
• More security features like Fingerprint/Biometrics scanning have been requested by customers
In association with
Analysis & Report by
Turing Analytics Derive business intelligence using machine learning
www.turingiq.com
River MobileApps Infosystems Pvt Ltd
www.RiverMA.com
Appendix I - Score Calculation Method
Net Promoter Score is a widely accepted indicator of customer experience management
NPS = %Promoters(5 stars) - %Detractors(3-2-1 stars)
For the scope of the report, NPS is normalised to 0-100 and used as overall score
We complement NPS with our proprietary metrics and insights from customer reviews, to provide a comprehensive, actionable view of your customer experience performance.
Appendix II - List of Apps Analysed
Banking Apps
• Axis Mobile
• HDFC Bank Mobile Banking
• iMobile by ICICI
• Kotak Bank
• State Bank Anywhere
• BoI Mobile Banking
• Federal Bank - FedMobile
• IDBI Bank Go Mobile
• PNB mBanking
• Yes Bank
UPI Apps
• AxisPay
• PayZapp by HDFC
• EazyPay by ICICI
• Canara Bank UPI- eMpower
• SBI Pay
• Union Bank UPI App
• Lotza-Upi, Federal Bank
• United UPI
• PNB UPI
• Yes Pay Wallet