the good, bad and the ugly. mobile banking in nz. designing for mobility
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Kris and Michael attended and presented at Designing for Mobility in Melbourne, March 2013.TRANSCRIPT
The good, the bad and the ugly: Mobile Banking in New ZealandKris Nygren & Michael Dutton
Designing for Mobility 2013
Melbourne
Some of us…20 UX consultants and designers in Auckland and Wellington
Disclaimer (and credentials!) – we have worked with most New Zealand banks on more than 100 projects
http://services.google.com/fh/files/blogs/our_mobile_planet_new_zealand_en.pdf
TNS Mobile Life study (New Zealand) 2012
Mobile and mobile banking were hot trends in NZ in 2012 (penetration:)
Google Analytics
Banking (NZ)
Mobile banking (NZ)
Google search trends told the same story:
By mid-2012 it was like a mad race with New Zealand banks announcing new mobile banking offerings on a weekly basis!
But lets step back and look at the bigger picture…
6 billion mobile connections
1.2 billion mobile web users
1 billion smartphone handsets
Global mobile stats in 2012…
http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#subscribershttp://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#smartphonepenetration
Pop Quiz!
Rank Country Subscribers(millions)
1 China 1,1002 India 6993 USA 3224 ? 2605 Brazil 2596 Russia 2277 Japan 1288 ? 1209 Germany 11410 ? 107
http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#chinasubs
Where is mobile growing?
Pop Quiz!
Rank Country Subscribers(millions)
1 China 1,1002 India 6993 USA 3224 Indonesia 2605 Brazil 2596 Russia 2277 Japan 1288 Pakistan 1209 Germany 11410 Nigeria 107
http://mobithinking.com/mobile-marketing-tools/latest-mobile-stats/a#chinasubs
Where is mobile growing?
2009
What about growth in mobile banking?
2013 2015
55m
550m
1.1bn
http://www.berginsight.com/News.aspx?m_m=6&s_m=1
+2000%
http://www.prweb.com/releases/2010/02/prweb3553494.htm
http://www.ababj.com/tech-topics-plus/m-banking-530-million-users-by-2013-2695.html
http://mobithinking.com/
blog/china-top-mobile-market
China 2012:>1 billion mobile subs>400m mobile web users
http://mobithinking.com/banking-the-unbanked
The global trend is for “un-banked” and “under-banked” consumer segments driving the growth in mobile banking
Pop Quiz!
This country has 29 million mobile subscribers.
65% (19 million) use mobile money services.
Where am I?
Q:
A:http://www.cck.go.ke/resc/statcs.html
Pop Quiz!
This country has 29 million mobile subscribers.
65% (19 million) use mobile money services.
Where am I?
Q:
A: Kenyahttp://www.cck.go.ke/resc/statcs.html
And it turns out it’s the same trend in the US as in China, India and Kenya….
The “unbanked” and “underbanked” are key to growth – adoption among younger, minorities, lower income segments are driving growth in the US
?But the question we really wanted to answer…
who provides the BEST mobile banking experience in New Zealand?
So, UX consultancies regularly study the usability of internet and mobile banking…
…and there is a plethora of mobile banking “awards”
…and sometimes its just one guy’s opinion!
So we asked ourselves - as UX researchers and designers - if we were to evaluate mobile banking offerings as objectively and scientifically as possible, …how would we do it?
This is how. Evaluate each offering against 5 core criteria:
Usability
Interaction design
FeaturesUser ratings
Platforms
We assessed all New Zealand banks (and US giant) and plotted them on a pentagon spider-diagram
Usability
Interaction design
FeaturesUser ratings
Platforms
Big graph area = good
Usability
Interaction design
FeaturesUser ratings
Platforms
Small graph area = bad
Before we start, however, it’s important to understand the relative size and resources of the banks we evaluated…
TSB Bank ~$200m revenue
JP Morgan Chase $100bn+ revenue
FeaturesUser ratings
Platforms
We started with some secondary research – looking at publically available data
iPhone Y Y Y Y Y Y y y
iPad N Y N N N N y y
Android Y Y Y Y Y N y y
Windows Y N N N N N y N
Open accounts N N Y N N Y N N
No log-in balances Y Y Y N N N N N
4/5 digit log-in Y N Y Y Y N N Y
View account balances Y Y Y Y Y Y Y Y
View transaction lists Y Y Y Y Y Y Y Y
Transfer between accounts Y Y Y Y Y Y Y Y
Bill payment Y Y Y N Y Y Y N
Set up payees - From Mobile N N N N N Y Y N
View automatic payments N Y Y N Y Y N Y
Change upcoming payments N N Y N Y y N N
View term deposits Y Y Y N Y y N N
View mortgages & loans Y Y N Y Y Y Y Y
View KiwiSaver Y N N N N N N N
Pay tax N N N N Y Y N N
Alerts: Text N N N N N Y Y N
Push N N N N N Y Y Y
Email N N N N N Y Y N
Foreign exchange, rates etc. Y N N N Y Y N N
Share trading N N N N N N N y
NFC N N N N N y N N
Location based services Y N Y N N N Y Y
Pay to mobile Y N N Y N Y N Y
Pay TradeMe sellers Y N Y N N N N N
Pay to Facebook friends Y N N N N N N N
Personalise account N N N N N Y N N
Personalised service N N N N Y N N N
Picture cheque deposits N N N N N N Y N
Loyality scheme points Y n N N N N Y N
Secure Messaging Y N N N Y Y N N
App store - latest version 4.53 3.33 4.55 1.82 4.35 4.45 2.34 2.19
App store - all versions 3.31 1.87 4.16 1.82 4.35 4.45 3.49 3.00
Google play 3.94 2.93 4.50 3.93 4.35 4.24 3.92Ratin
gFu
nctio
nalit
yPl
atfor
m
It turned into this heat-map…
Features
How many is enough?
How many
is too
many?
We looked closely at the features provided – both core and non-core
Here is how they ranked on features…tiny TSB at the top!
User ratings
Next we looked at the user rating in the app stores (which must be taken with a grain of salt…)
And there were some clear winners and losers
Platforms
Finally, we looked at how many platforms banks make their mobile offering available on
Revealing a wide spread with TSB and ANZ potentially excluding a large part of their customer base
Usability
What to
test? Who:
Millennials
Where?
Method
As UX consultants, we believe that comprehensive usability testing was critical to a robust evaluation
…so we recruited real bank customers and tested all the mobile banking apps in our specialist mobile user testing lab in Auckland and Wellington
In
Action!
Big gap between the best and the worst…and as expected, a strong (inverse) relationship between usability issues and
SUS (system usability score)
On balance, Westpac and ASB provided the most ‘usable’ UI
Interaction design
Finally, we asked five UX consultants and interaction designers to assess how well designed each mobile
banking app was
We created a robust evaluation framework, which enabled independent assessment and scoring of each banking app
And yet again, it revealed a big gap between the top and bottom performers
We didn’t feel all criteria were equally important, so we weighted them to emphasise the most important aspects
?So, how did they all stack up?
This should start to give you a picture…
Usability
Interaction design
FeaturesUser ratings
Platforms
56.01
In the end, ANZ achieved the lowest score due to a lack of features, few platforms and poor user ratings
Usability
Interaction design
FeaturesUser ratings
Platforms
77.83
ASB, by contrast achieved strong scores across all criteria
Usability
Interaction design
FeaturesUser ratings
Platforms
74.86
In fact, giant US Bank JP Morgan Chase (often held up as a benchmark in mobile banking) came in second to ASB
77.8374.86 68.83 67.35Scores:
Finally, some key insights from this study…
• Is “feature bloat” a problem in terms of mobile banking UX? Not if the app is well designed.
• It’s really hard to measure good design!
• Good mobile usability and features can make people switch banks!
• Americans still use cheques!
• And, these findings are already out of date…