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Slow loading times, poor interfaces, inadequate support: Futurice survey reveals consumers’ top gripes with their banking apps

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Majority of customers say they’d consider switching banks to escape unreliable apps and shoddy customer service

LONDON, Nov. 12, 2024 /PRNewswire/ — A new survey released today on customers’ top frustrations with mobile banking reveals digital-only company Monzo is leading the app game – while the high street banks are falling short.

Today’s digital-savvy users demand more from their banking apps and will consider switching banks to get it, according to a survey of 518 UK adults conducted by digital and AI transformation consultancy Futurice UK, with the majority prioritising a reliable, straightforward app experience and top-tier customer service.

While 30% of those surveyed were most satisfied with the Monzo app, followed by NatWest (15%) and Chase (14%), when asked which app causes them the most frustration, Barclays was named by 7% of respondents, followed by Nationwide (6%) and HSBC (5%).

Inadequate customer support topped consumers’ list of frustrations – cited by 47% of respondents, followed by slow loading times (45%) poor user interface (44%) and limited app features (37%).

Over a third (34%) of respondents have five or more banking apps on their phones to handle everything from current, savings and mortgage accounts, to crypto and foreign exchange.

“Banking apps are critical touch points between banks and their customers,” says Matthew Edwards, MD of Futurice UK. “People want to be on top of their finances and they need their banking apps to keep up. From easy in-app navigation to 24/7 customer service, these findings suggest that by failing to deliver consistently effortless digital experiences, banks are not meeting their customers’ expectations.”

Poor digital experiences erode loyalty

It’s clear that a hassle-free digital experience is extremely important: a huge 70% of respondents said they were ‘likely’ or ‘very likely’ to switch providers for a more reliable mobile app.

Participants repeatedly mentioned apps crashing, having complicated layouts, taking a long time to load and being regularly unavailable (due to maintenance or updates) as key frustrations. Some described their interaction with the Barclays app as “slower” and “not user friendly,” citing login issues and error messages. Meanwhile users criticised HSBC’s app for requiring “constant” approvals for transactions which “takes too long.”

Matthew Edwards says today’s users are looking for the seamless interaction they’re accustomed to from their other essential apps: “Banks and financial institutions should prioritise operational excellence in their digital platforms. This means ensuring the customer journey is smooth from login to transaction, and that apps are equipped to handle peak demand without compromising speed or user experience. Investments in backend infrastructure, load management and interface design are no longer optional, they are prerequisites for retention.”

Customer support – the new baseline for engagement

Another area of concern the Futurice survey highlights is customer service. Not having fast, accessible support was mentioned by many respondents as a problem. Seventy-one per cent said they were ‘likely’ or ‘very likely’ to consider switching banks for superior customer service while 67% would think about changing for 24/7 support.

Matthew Edwards comments: “Round-the-clock support isn’t a luxury – it should be the new normal for banks wanting to retain their customers.

“AI-driven chatbots are useful for filtering common queries, but effective customer service needs a hybrid approach, with human agents also on hand for more complex issues.”

Make it personal – standardised solutions are out

Other insights revealed by the Futurice survey include respondents being annoyed and underserved by limited in-app features and a one-size-fits-all approach. Many want tailored advice, budget tools and money pots for an individualised banking experience: 66% would consider switching to a provider with more innovative app features, while half would switch for personalised financial advice.

Monzo, which came out top in terms of overall satisfaction, was praised by users for the ease of directing money into different pots, whether saving for something specific or tracking spending. Participants said Monzo’s pots “helps me budget” and ” feel in control” adding that the app “offers more than just banking.”

“Banks can deploy advanced analytics and AI to provide bespoke financial advice, spending insights and savings tools that align with customers’ unique circumstances,” says Matthew Edwards. “Embracing personalisation means putting the customer at the centre of the product, enhancing customer satisfaction, deepening engagement and driving loyalty.”

Additionally, according to the survey, ethical banking is becoming a mainstream expectation. Matthew Edwards says: “It’s no longer a ‘niche’ concern; 48% of respondents would ‘likely’ or ‘very likely’ switch to a provider that follows ethical banking practices. Customers are actively seeking banks that reflect their values around sustainability, fair business practices and social responsibility. Banks that communicate their commitment to sustainability and fair practices stand to build stronger emotional connections with their customers.”

Meanwhile, security remains a crucial concern for many, with 68% saying they were ‘likely’ or ‘very likely’ to switch for enhanced security features.

“It’s clear that people expect more from their apps”

While higher interest rates and lower fees will always be a draw, the Futurice survey provides compelling evidence that user expectations in digital banking are evolving, and financial institutions must adapt quickly to stay competitive.

“Financial institutions need to stay ahead of the curve and respond to what their digital-first customers value,” says Matthew Edwards. “Personalisation, seamless interactions and 24/7 support are critical factors in retaining and attracting bank customers, along with robust security and ethical practices.

“It’s clear that people expect more and more from their apps, and these insights can provide a roadmap if banks are willing to listen. Fail to address these areas, and you risk falling behind.”

To download the survey insights report click here.

Futurice is a digital and AI transformation consultancy, helping clients to solve their biggest challenges and empowering them to make a positive impact on the world.

We design, develop and scale digital products and services across many industries. Our goal is to deliver measurable, sustainable outcomes through close and business-focused collaboration with our clients. Over the last few years, we’ve helped major banking, finance, automotive, mobility and logistics clients reach the forefront of the data and digital transformation.

Photo – https://mma.prnewswire.com/media/2554309/Matthew_Edwards.jpg

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American Battery Solutions Powers Marine Travelift’s New Electric Series Boat Hoists

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LAKE ORION, Mich., Nov. 25, 2024 /PRNewswire/ — American Battery Solutions (ABS) has partnered with Marine Travelift to design, develop and manufacture the advanced battery technology powering its new Electric Series boat hoists. The 50BFMII (50MT capacity boat hoist) combines the innovation of ABS’ electrification and the world-class functionality of Marine Travelift.

“American Battery Solutions is committed to delivering electrification solutions that are not only technologically innovative, but also exceed their expectations for quality, performance and operational efficiency,” said Subhash Dhar, Chairman and CEO of ABS. “The launch of Marine Travelift’s new E-Series is a testament to the power of collaboration and reflects our shared dedication to innovation and sustainability.”

The Marine Travelift E-Series hoist is powered by ABS’ 700-volt battery system manufactured and assembled in the U.S., which supplies power to the hoist’s hydraulic functions, delivering the optimal performance of traditional hoists without the emissions of a diesel engine.

The battery system powering the E-Series utilizes scalable DC fast-charging interfaces from on-road electric vehicles to safely charge the batteries and a full charge can be accomplished in an 8-hour period with the recommended 30kW high-speed smart charger.

All features available on Marine Travelift’s diesel-powered boat hoists are also available in the new E-Series. The first E-Series machine is equipped with options such as electronic all-wheel steering, five-foot top beam extension, work/drive lights and 2-speed hoists to ensure the correct power requirement was chosen to accommodate all option configurations.

The E-Series machines utilize multiple layers of safety features from the moment the machine powered on, including high-voltage junction boxes, isolation monitor, fuses and grounding straps to ensure the operator and batteries are kept safe during every phase of operation. The batteries and electric motor are both regulated by a glycol cooling system to maintain a safe operating temperature in various conditions.

Visit marinetravelift.com to see how the new E-Series is revolutionizing the future of clean, efficient boat hoisting. To learn more about the battery system behind it, contact the experts at ABS.

About American Battery Solutions
American Battery Solutions (ABS) is a leader in designing, developing and manufacturing advanced battery systems for commercial, fleet, and industrial on- and off-road vehicles. A subsidiary of Komatsu America Corp., the Michigan-based manufacturer offers a comprehensive range of capabilities and services to support the development and production of lithium-ion battery systems at its headquarters and innovation center in Lake Orion, Michigan, and state-of-the-art battery manufacturing facility in Springboro, Ohio. From concept development and prototyping to validation and high-volume production, ABS works closely with customers to understand and deliver intelligent battery solutions assembled and manufactured in the USA to drive a sustainable and electrified future. Learn more at americanbatterysolutions.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/american-battery-solutions-powers-marine-travelifts-new-electric-series-boat-hoists-302314574.html

SOURCE American Battery Solutions

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CancerIQ Unveils New Patient Acquisition Solution at RSNA 2024

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Data shows CancerIQ Reach closes gap between eligibility and participation in payer-supported, standard and supplemental screenings, leads to early cancer diagnoses and promotes health system loyalty

CHICAGO, Nov. 25, 2024 /PRNewswire-PRWeb/ — CancerIQ, a best-in-class, cancer-focused precision health platform, today announced the launch of a new patient acquisition solution for imaging and oncology, CancerIQ Reach, at the Radiological Society of North America (RSNA) Annual Meeting in Chicago, December 1-4. The new solution ushers in a new era for population-based, personalized cancer prevention and early detection.

This approach is proven to increase patient acquisition for high-value service lines, like imaging and oncology.

CancerIQ Reach is a campaign-based marketing outreach solution that helps healthcare providers efficiently and accurately identify individuals in their communities with elevated cancer risk and motivate them to take action within the health system. It requires little to no IT lift or changes to existing workflows, and was developed based on CancerIQ’s decade-long experience working with patients and providers around the country.

“CancerIQ’s mission is to help every patient get ahead of cancer, but we recognize that precision prevention for all is a long-range goal — and there are high-risk patients in our communities who can’t afford to wait, ” said Feyi Ayodele, co-founder and CEO of CancerIQ. “CancerIQ Reach answers that urgent call, enabling health systems to take a precision approach to outreach and drive high-risk patients directly to the service lines that will support their care needs today, not someday in the future.”

CancerIQ Reach includes population segmentation tools and multichannel marketing toolkits that make it easy to engage target populations in online cancer risk assessment using personal and family medical history, as well as lifestyle factors; educate them about their risk and options for early detection; and drive them to follow payer-supported, standard and supplemental screening recommendations throughout their lives.

“We developed CancerIQ Reach with both the patient and the provider in mind,” said Laku Adedoyin, Chief Technology Officer of CancerIQ. “This patient-enabled approach empowers patients with the right amount of information to take action at the right moment in their care journey, while enabling staff to maximize appointment time around shared decision making, rather than data collection.”

This approach is proven to increase patient acquisition for high-value service lines, like imaging and oncology. For example, data from a pilot of CancerIQ Reach shows a campaign targeting patients with a history of smoking led to a 270% monthly increase in low-dose CT scans scheduled at the lung cancer screening clinic. Within the first two months of the campaign, four patients were diagnosed and successfully treated for Stage 1A lung cancer after LDCT screening. Further increasing systemwide value, the campaign led to a significant increase in referrals to radiology for breast MRIs, as well as several referrals to pulmonology and cardiology for follow-up care.

CancerIQ Reach is part of a broader solution for breast imaging and oncology that helps providers create and manage personalized, evidence-based care pathways over time based on comprehensive cancer risk, including genetic, hereditary, lifestyle, adherence risk factors.

CancerIQ Reach will be available on December 1, 2024.

Learn more about CancerIQ Reach at RSNA 2024

The launch of CancerIQ Reach coincides with RSNA 2024. Attendees can learn more about this offering by visiting the booth for iCAD, CancerIQ’s partner in AI-enabled mammography analysis and breast density assessment.

Exhibit Dates: December 1-4, 2024

Show Floor Hours: 10:00 AM-5:00 PM CST

Booth: 4747

About CancerIQ

CancerIQ is the only cancer-focused precision health platform that empowers healthcare providers to detect cancer earlier and prevent it altogether across all patient populations. Integrated directly into real-time EHR workflows, CancerIQ makes it easy to gather comprehensive patient data, automatically map it to the latest evidence-based guidelines, and expand access to personalized care plans, cutting-edge clinical solutions, and genomic innovations. CancerIQ co-founder and CEO Feyi Ayodele was recently named a Modern Healthcare Innovator for pioneering this transformative approach to cancer prevention, early detection and treatment. Learn more at canceriq.com, follow CancerIQ on X or LinkedIn.

Contact

Press, CancerIQ, (516) 503-8610, marketing@canceriq.com

Media Contact

Malvina Kefalas, CancerIQ, 1 5165038610, mkefalas@canceriq.comwww.canceriq.com/reach

Twitter, LinkedIn

View original content:https://www.prweb.com/releases/canceriq-unveils-new-patient-acquisition-solution-at-rsna-2024-302315088.html

SOURCE CancerIQ

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CORERO NETWORK SECURITY TAPS INDUSTRY VETERAN JUDSON THUERK TO LEAD CHANNEL STRATEGY IN THE AMERICAS

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MARLBOROUGH, Mass., Nov. 25, 2024 /PRNewswire/ — Corero Network Security (AIM: CNS) (OTCQX: DDOSF), the distributed denial of service (DDoS) protection specialists, announces the addition of Judson Thuerk to the Channel and Alliances Team as the Channel Manager for the Americas.

“I am very excited to join Corero, especially at such a pivotal, high-growth moment. The company is clearly poised to become the de facto global leader in safeguarding critical infrastructure against evolving DDoS threats. Trusted partnerships are increasingly essential in today’s evolving cybersecurity landscape and Corero’s partners can expect my relentless commitment to driving mutual growth,” says Thuerk.

Thuerk is a veteran technology sales leader with more than 40 years of experience driving innovative go-to-market strategies and execution at companies such as Xerox, Digital Equipment Corp., Comdisco Disaster Recovery Services, Sungard, Symantec, EMC, Dell, and VMware. He most recently served in a client management role at Lydonia Technologies, a robotic processing automation and data-pipelining services firm.

“Jud’s success developing customer-first relationships that deliver positive business outcomes will bring immediate value to our trusted channel partners. We are thrilled to have him join the Corero team,” says Corey Still, Vice President, Strategic Alliances at Corero Network Security.

To learn more about Corero Network Security’s partner program or to become a partner, please visit https://www.corero.com/partners/.

About Corero Network Security
Corero Network Security is a leading provider of DDoS protection solutions, specializing in automatic detection and protection solutions with network visibility, analytics, and reporting tools. Corero’s technology protects against external and internal DDoS threats in complex edge and subscriber environments, ensuring internet service availability. With operational centers in Marlborough, Massachusetts, USA, and Edinburgh, UK, Corero is headquartered in London and listed on the London Stock Exchange’s AIM market (ticker: CNS) and the US OTCQX Market (OTCQX: DDOSF). 

For more information, visit www.corero.com, and follow us on LinkedIn and X.

View original content to download multimedia:https://www.prnewswire.com/news-releases/corero-network-security-taps-industry-veteran-judson-thuerk-to-lead-channel-strategy-in-the-americas-302314700.html

SOURCE Corero Network Security

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