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Citi Unveils US Enhanced Mobile Banking Application for Android, Improved Application Navigation and Improved Feature Accessibility, Based on an Email Read by Business Insider Intelligence.
The Citi iOS app already offers the features it deploys on Android, and it probably got them first because of the prevalence of iOS in the United States over Android.
The focus placed by Citi on navigation shows that it is important to improve the user experience to prevent users from being overwhelmed by features. The upgrade is focused on the navigability of the application rather than on adding new features: Citi has added a menu with shortcuts to make existing features more accessible, such as FICO scores, the bill payment, mobile check deposit, for example. It also makes it easier for customers to access their account balance, make payments, and get an overall view of their money.
- Citi's mobile banking app is already highly valued by customers for its on-demand features, and this upgrade will make it easier to use these popular features. Citi ranks first in the study on the competitive advantages of Business Insider Intelligence's mobile banking services (business only), especially at the head of the account access section, to offer less common features such as the ability to enter a code of interest; Four to six digit authentication to connect to the application. In addition, it ranked third in the recent US Banking US Banking Mobile Satisfaction Survey of 2019, which measured the degree of customer satisfaction with the experience. his bank and emphasized that the use and navigation were the most important qualities among customers. By extending the ease of use of its application to Android users, Citi will likely increase the overall satisfaction of its customers.
- The addition of conversational banking features can further streamline the navigation in Citi applications. The next step for Citi in streamlining the navigation of its application could be the integration of a virtual voice badistant. While rethinking menus may simplify things, speaking a command aloud might require the least steps to locate certain features, such as changing an address or setting a fraud alert. Capital One offers an AI-based chatbot, Eno, with advanced features: it can alert customers in the event of suspected fraud, possible double charges at a merchant or alleged price escalation. a service to which a user is subscribed. And Bank of America offers a virtual voice badistant, Erica, with features such as P2P (P2P) payments and bill payment, which has grown rapidly: it has exceeded 6 million users per year since launch and adds an average of 500,000 new monthly users.
Other banks would be well advised to follow Citi to prioritize a simple user experience over the integration of new features. It's important to add new features to attract customers: 64% of mobile banking users who responded to the Business Insider Intelligence Mobile Banking Competitive Advantage Survey said they would do research on mobile features of a bank before opening an account.
However, having too many features can result in a cluttered application experience, which could make applications difficult to navigate. Banks should therefore devote more attention to the user experience and the navigability of an application to enhance customer engagement and satisfaction. For its part, we believe that the focus put by Citi on the user experience will further differentiate its mobile application and help it continue to add users at a fast pace: the number of users. Citi's active mobile banking users grew by 12% annually in the second quarter of 2019.
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