HOW DO BANK APPLICATIONS THINK ABOUT UI/UX? — COMPARATIVE STUDY
With the rise of technology, everything is possible with just a few clicks on the mobile phone. Do you think there is a chance to provide a pleasant and enjoyable customer experience if you cannot step “out of the box”? Great results come from great ideas.
With Finance Industry rapidly adding and upgrading its operations with technology, banking applications are at the boom. A lot of people yet choose to go with the traditional approach to banking, but technology has given an advantage to the ones requiring quick and effortless processes. UI/UX design in banking is different from other industries. Finance Applications need to be safer and faster than any other applications generally. UX design of the new banking platform is dealing with customers’ funds. The interface of the finance application secures clients a valuable experience, and the account maintains customers’ time and money, applying cutting-edge digital development technology. To conclude, technology must bring together serviceability, effectiveness, and be comfortable in use.
The real values for most users are intuitive interface, simplicity, personalization, and visual.
Over years, some banks have managed to secure the ranks on top with their unique offers, benefits, features, and operations. They have continued to maintain their ranks in traditional banking. But with most of the things turning towards digital, how well these banks have considered the user experience and concerns in their digital platform?
https://createbytes.com/insights/
Let us have a comparative study about user experience and the choices made by the Top Banks to provide the same to their clients.
UI/UX IN TOP BANKING APPS: REVIEW
Do you believe the bank application designers have understood the habits and preferences of their bank target audience? Chris Skinner, a London-based independent commentator on the financial markets and the chairman of the Financial Services Club says, “By partnering with FinTech Start-ups, banks will give their account holders the right measure of security and speed. Account Holders can know their money is safe and they can enjoy the latest financial technology. This is the way to become a digital bank.” Customer feedback and user behavior analysis discloses that user experience and value-added features differ importantly among different banking apps.
Let us see how the Top Banks have collaborated with Finance and Technology to enhance their user’s experience and study of what are the specific limitations and benefits.
HDFC BANK
The best element of HDFC bank is its easiness and fast user interface for beginner users. Subsequently, for one of their target customers based out of rural areas, it offered a LITE version that works on slower connections. The user interface of HDFC includes a blue and white color scheme, uncluttered features, and easy to access key features.
Features:
· Registration through the face or touch ID, secured by encryption.
· Apply for different kinds of loans and manage insurance plans.
· Locate branches and ATMs on the map.
Limitations:
· Connection errors, a bug that asks users to register for quick access pin frequently, and problems faced while making NEFT transfers, particularly on the iOS app.
· Some users may experience error messages while setting up and facilitating touch ID.
STATE BANK OF INDIA
SBI is the most popular bank in India amongst urban and rural areas. SBI Yono, SBI Anywhere, and SBI Freedom app are of the bank’s effort to make it simpler for its users to access mobile banking services on a broad range of devices. The interface for the application includes taking the color hint from the purple logo, they applied simplicity with menu buttons listed in a card grid pattern, easing access to different functions.
Features:
· Voice assisted transaction maintains a wide range of services including balance inquiry and speedy transfers.
· Users can execute all the basic banking transactions along with other exciting elements such as LPG seeding, virtual card facility, and online nomination.
· Users can also request interest certificates for loans and generate various kinds of bank statements.
· To bring numerous features under one roof, SBI launched YONO (You Only Need One), which offers online shopping, mutual funds, insurance, loans, and travel and booking.
Limitations:
· There may be privacy issues with some users that the app requests access to call logs.
· Difficulty navigating through connection errors and UPI payments getting stuck.
https://createbytes.com/insights/Web-Design-and-AI-Combination-of-Digital-World/
AXIS BANK
With more than 5 million installations, Axis Bank mobile app is attracting popularity and preferences with a high user satisfaction record. The interface of the application includes a magenta and white color pattern and a list-based menu. Also, personalized side menu by adding a picture of choice.
Features:
· Single thorough view for all personal details.
· Users can chat with Axis Aha! an AI-driven virtual assistant.
· Customers can tweet directly from their app if they face difficulties.
Limitations:
· The app crashes often and is slow.
· Customers often face problems while registering with the application.
· Some bugs may cause complexities while using the app as credit card details not updating immediately, overdue status updates of UPI transactions, and login issues.
ICICI BANK
With more than 200 services, the ICICI’s iMobile app is one of the most prevalent banking apps on Google Play Store and App Store, with more than 10 million installs. The application interface includes all menu buttons that are easily accessible, and the toned-down color scheme makes it less confusing for the user to make transactions.
Features:
· Allows users to transfer funds, check balance, generate statements and make cheque book requests.
· Users can also book flight, train, and bus tickets and make hotel reservations.
· Manage Demat portfolio straight from the application.
· Visualize spending overview.
Limitations:
· Difficult to generate bank statements due to date-related issues.
· Connectivity is an issue where cellular connectivity is not good.
· Fingerprint identification is not accurate.
· Sudden crash of the application.
https://createbytes.com/insights/Human-Behaviour-Influencing-UI-Design/
KOTAK MAHINDRA BANK
Kotak has an array of mobile applications for its customers. The most popular of these official mobile banking applications is Kotak — 811 & Mobile Banking. The application interface includes tiny icons set in grids and fonts set against a white and grey background.
Features:
· Ease of credit card and online bill payment.
· Transfer money immediately via BHIM UPI.
· Users can book movies and purchase flight tickets.
Limitations:
· The application is slow.
· Too many features may complicate users.
· Some errors while installing and logging in.
WRAP UP
Customers want to use an application that looks and feels contemporary. That means less chaos and more focus on valuable elements, easily comprehensible menu buttons, and a color scheme that is not confusing. While extra features may be beneficial, improving too many may divert the user from core functionalities. Improving customer support, enhancing design, and maintaining the application error-free by issuing regular updates should help banks to increase their applications’ user satisfaction.
