1. Innovative mobile payment solutions lack backing of strong trustworthy names. I just listened to an interesting panel discussion about mobile payments. There are now tons of interesting and great innovative solutions (examples are Apple’s iBeacon based and NFC based solutions from various innovative start-ups like barcoo or netsize) but they are still lacking the backing of the big financial players. And this is the only way the consumer will accept new payment solutions. So start-ups - get the big banks and financial players involved!
2. Experience first: customers download apps for testing them - when they don’t fulfill customer’s expectations, the apps will be dropped. The implication here is simple: first, attract your clients by an excellent app description in the app store, screenshots and a strong marketing strategy and second, bind your customers through cool features, really helpful tools and a great user experience. This sounds simple - but many banks fail on it as our latest report testifies.
3. Mobile websites and responsive design gain momentum: the development of native apps is expensive and time-consuming. Testing is required as well as integrating feedback from the users. The advantages of responsive design are numerous. Besides enhancing SEO and ensuring a unified look and feel across multiple devices, there is no hurdle for potential customers to use the mobile websites of a bank since no apps need to be downloaded. It’s easy and flexible without requiring huge investments. Will browser based mobile solutions beat native apps in the short run? No, definitely not. Will it be a serious option in the longer run? Definitely yes, particularly for mobile solutions that do not require great design and all the bells & whistles of an expensive native app.