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Crunching Numbers: Perfect Mobile Banking with the Right Metrics

How can banks do better with their mobile offerings?

· Mobile Zone

Crunching Numbers

“Rapid Change Not Fast Enough in Mobile Banking” declared a recent headline in American Banking.[1]It’s true; mobile banking is evolving faster than you can say “ka-ching” – and customers expect nothing less than the best.

How do you give your customers exceptional mobile banking while keeping up with the industry’s rapid pace? The answer lies in having the right metrics in place. This crucial information allows you to understand and optimize the user experience – while also quantifying the success of your mobile banking efforts.

Forrester’s recent Mobile Banking Playbook highlighted key metrics areas that mobile banking teams should be focusing on:

Awareness | Do your customers even know that mobile banking is an option? Beyond that, are they aware of all the special features and conveniences that mobile banking offers?

Adoption | What percentage of your customers are active mobile users? What devices are they using?

Use | How, and how frequently, are customers using your mobile features and services?

Experience | Does your mobile banking offering meet your customers’ needs? Does it meet the customer experience trifecta: easy, enjoyable, and useful?

Impact | How is mobile banking affecting your bottom line? Has mobile banking changed customer behavior?

Identifying these metrics is one thing. Acquiring them is a whole other matter. The complexity of mobile coupled with the rush to roll out features creates a formidable barrier. Luckily, Crittercism is here to help. Here are just a few ways that we hand crucial metrics to you on a (virtual) silver platter:

  • Industry Benchmarks: Find out how your services compare to similar institutions. You can even zone in using factors such as country, carrier, and operating system.
  • User ProfileSee a comprehensive profile of who your active users are, device type, geographic location, and operating system. Zero in on target users who are most important to the bank.
  • Business Transactions: Understand the financial impact of important workflows, from mobile deposit to bill paying. Quickly identify, analyze, and address any issues that come to light.
  • Performance Monitoring: Whether you’re using native or hybrid technology, or a mix of the two, see a digestible view of diagnostic data across all parts of the app.
  • Integrations: Seamlessly combine Crittercism’s mobile intelligence and integration with companies like Jira, Adobe Omniture, Splunk, Appcelerator, and more.

As Forrester says, it’s crucial to put metrics at the heart of your mobile banking strategy. By investing in the right tools, you can avoid a data deluge and instead focus on business crucial metrics. The return? You’ll achieve key business goals and your customers will adopt mobile banking with a smile on their faces. As a leading Spanish bank remarked, “Crittercism’s mobile app intelligence allowed us to create a seamless user experience for our customers.”

Watch Forrester’s webcast and find out for how you can create a competitive advantage with your mobile-banking strategy.

Bonus read: Many leading banks around the world trust Crittercism to deliver the mobile metrics that matter. Find out how one leading US bank revolutionized their customers experience by providing a mobile banking app that’s worth its weight in gold.

Topics:
banking ,mobile

Published at DZone with permission of Chris Beauchamp, DZone MVB. See the original article here.

Opinions expressed by DZone contributors are their own.

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