In India, banking services are progressively being accessed by users by downloading mobile-banking apps to their smartphones and customer acceptance of these banking services is currently on an all-time high. However, the most important factor which is often underestimated is the overall user experience. Research also points out that nearly half the millennial customers are dissatisfied with mobile banking and online banking services.
Keeping in mind the increasing dependency on mobile banking, there is a need for banks and financial institutions to reassess and reconsider their mobile banking strategies. Hence, its imperious to integrate user experience as a value-adding differentiator to increase customer satisfaction and loyalty. Another recent study on user experience for mobile banking revealed that there is a correlation between user experience and mobile banking. It states that these two needs to go hand in hand to increase adoption and usage numbers, especially in developing countries.
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