In our analysis of the Apple Watch banking apps offered by 22 of the largest retail banks worldwide, we come to the conclusion that the first generation of banking apps reveal some major shortcomings while in other industries, there are already several outstanding examples.
The infographic below displays the share of points the banks achieved for the nine features an Apple Watch banking app should contain. The results show that amongst other aspects, banks yet have to recognize the main benefit of a smartwatch app – the access to a very personal accessory of their clients that allows banks to get closer to their clients’ daily lives. Hence, Apple Watch apps should particularly deliver mobile moments that excite clients. Making use of the client’s location, interests, and financial situation for personalized offers, news, and product offerings is a field not yet explored by the leading retail banks, albeit adding substantially to a bank’s equipment in the race for clients’ attention.
The study shows how in other industries apps perform very well in delivering such mobile moments amongst other impressing best practices banks should take a closer look at when developing their Apple Watch apps.
Don’t miss out on our new study available tomorrow to not lose sight of what really matters when developing your Apple Watch app.