Banking on Mobile

Kris Nygren

Optimal Usability

Banking on Mobile

Kris Nygren

Optimal Usability

http://www.itu.int/ITU-D/ict/facts/2011/material/ICTFactsFigures2011.pdf

6 billion mobiles outnumber landline connections 5:1

1.2 billion active mobile web users

• Outnumber fixed broadband connections 2:1

• Make up 8.5% of all Internet page views

• Many mobile web users are mobile only (25% in the US)

Annual revenue from mobile advertising?

$US2.5 billion

“We had more than 425 million mobile active users in December

2011….we expect customers around the world will continue to increase the amount of time they spend and the information they

share and consume through mobile devices”

Facebook IPO Statement

Hang on…say what?!

Pop Quiz

Which mobile operating system was the global leader in mobile

web page views in January 2012?

32%

c)

2:1

1.5 billion handsets sold in 2011

“94% were not iPhones”

mobiThinking

2:1

488 million smartphones sold in 2011

1:1

488 million smartphones sold in 2011

300,000 apps developed in the past three years

…downloaded 10.9 billion times

…1 in 4 apps never used again

Always go native?

Mobile Financial Services

2009 2015

55 million

1.1 billion

+2000%

MFS users globally

• 87% of Americans have a mobile phone

• 35% have a smartphone

• 18% used mobile banking in the past 12 months

• A further 10% plan to use it in the next 12 months

48% cited security concerns as a reason they don’t use mobile banking

A MyPrivateBanking study looked at almost 200 apps from 50 of the world’s biggest banks:

• “Mobile apps offer less security than online banking”

• Only “30% mobile banking apps offer strong security”

Mobile banking trends?

Mobile banking trends?

Who is leading the charge?

• “Best in Class” for Mobile Banking in 2011 - Javelin

• #1 Mobile Banking Offering 2012 - Keynote Mobile Banking Scorecard

• #1 in Mobile Website and App 2011 -Keylime Interactive

• Best Use of Smartphone Camera 2011 - Webby Awards

• Average 4 stars from iPhone and iPad reviewers. More than 50% gave a perfect 5.

…or as his mum calls him when he is in trouble:

JP Morgan Chase

Complete Mobile banking offering – txt, Mobile Web, iPhone, iPad, Android and Blackberry

JP Morgan Chase

What about Mobile “UX”?

• Usability guidelines are similar to desktop – but a lot less forgiving (smaller screen , time poor users)

= reduce, remove, synthesise

• Jacob Nielsen’s mobile usability guidelines have grown from 85 to 210 over the past two years

Usability is improving:

• Tested user success rates of mobile sites is up to 62%

• Mobile native app success rate is 76%

• Desktop success rate is 84%

Customers are raising the bar (expecting more)…

• So from now on, your mobile sites and apps better be good

Australia

Brazil

Canada

Chile

Czech Republic

Finland

Germany

Ireland

Italy

Japan

Poland

Russia

South Africa

South Korea

Spain

Switzerland

UK

USA

International eBanking Benchmark Study

Most banks do default the keypad to the alphas or numeric depending on what is required from the field.

76%

24%

Keypads defaulted for entry

Yes No

R: The keypad should always default to alpha or numeric depending on what is required.

Keypads for field entry defaults to alpha or numeric respectively

Site feels secure and offers sufficient help?

There is an expectation that secure mobile solutions give an indication that it is secure, yet some banks still missed this vital piece of information. Though apps are supposed to be very easy, for the beginner there seems to be little to no help offered by many of the banks.

38%

62%

Security shown

Yes No

34%

66%

Help offered

Yes No

Top banks that met most of the usability evaluation criteria

Most of the criteria met:

Many of the criteria met:

Woori bank

MB$ ?

MB$ ?

"The best thing a mobile interaction designer can do is observe human behaviour“ Nick Finc, UX guru

So what about right here?

18%

33%

Penetration of smartphones in NZ? (accepting that mobile penetration is 100%)

7%

18%

27%

0%

5%

10%

15%

20%

25%

30%

2007 2009 2011

Percentage of people accessing the internet on a mobile or

handheld device

The AUT World Internet Project December 2011

5 hours or more per

week

28%

39%

TNS Mobile Life Study - Mobile Banking

“Using now”

“Interested”

“The results of our study

show that mobile banking

growth will be driven by

solutions that facilitate easy

access to accounts, buying

phone credit and paying

utility bills, for example.”

Dave Thomas, TNS

And finally, some interesting new stuff…

Person-to-person credit card payments (using the smartphone camera)

Card.io lets users pay for items by holding their credit card

up to the phone’s camera. The new Card.io apps are meant

for person-to-person payments e.g. splitting lunch, paying

for gas etc.

Make an online purchase with cash – through my smartphone?

PayNearMe

The consumer buys something online with the

PayNearMe mobile option. The merchant

renders a barcode so that when the consumer

walks into their store they can scan the barcode

and accept the cash payement

A receipt populates on the phone and the

merchant recieves the payment.

- Aims to change the

ways kids use and

think about money

- Platform for earning,

saving, giving and

spending

- Kid-friendly access to

curated and controlled

Amazon store

Thanks for stopping by !