The Best-Practice Engagement Bank (continued)…
Best Mobile Banking Experience
Here again we see the descent into mediocrity, because banks are mostly trying to shift their online banking experience onto a smaller screen. The only bank that has come close to capturing the true contextuality of banking in one mobile app today is Hana Bank of South Korea.
We do, however, see some pockets of brilliance emerging. ANZ’s GoMoney is a great example of emerging capability in the payments arena, although as NFC (Near-Field Communications) enabled payments emerge on the scene, we’re really going to see some interesting ‘engagement’ capability on the mobile. OCBC recently launched a“scan and pay” capability built into their App so you can scan in an invoice number from a bill. If billing organizations use stacked-linear barcodes, QR Codes or similar, it is conceivable that an app could scan a bill and enable you to pay it without having to enter any additional information. That would be cooler than just a short cut invoice number capability. Danske Bank has attacked this by using OCR (Optical Character Recognition) to photograph the entire bill and work out whom and what you have to pay.
Hana Bank’s Mobile App – Best Practice Today
We’ve seen Citi, Standard Chartered and some others explore ‘shopping’ Apps – which are sort of loyalty programs built into the shopping experience, trying to capture the Groupon type benefit here. Hana Bank incorporated Coupons into their App with GeoLocation, and their implementation makes a lot more sense than having a separate ‘bank’ shopping app in my opinion. Commonwealth Bank has been experimenting with both GeoLocation and Augmented Reality engagement in some interesting ways too. Commonwealth’s property valuation App is a great example of how taking banking to the customer contextually is the future of the mobile interaction.
Most banks are still stuck trying to figure out how to get as much of their internet banking screens and functionality on to a screen the size of an iPhone. That’s just the wrong approach. We’re making all the same mistakes we made when the Internet came out – we’re limiting development to what the bank wants from the channel (cost migration and competitive competency) rather than real engagement of customers.
ATM Best Practice
Unfortunately legacy thinking and hardware dominates this landscape. Although in recent times we’ve seen banks incorporating check deposit, bill payments and other functionality, we’ve only seen one rethink of the ATM that is truly engagement banking (we’ll get to that in a moment).
Bank of America has been recently pushing their ATM check deposit capability in advertising strongly, although this is hardly user experience at it’s best – again the driver is to shift costs out of the branch onto a cheaper channel for the bank, not better UX. HSBC in Hong Kong launched Barcode scanning capable touchscreen ATMs in December so that you can simplify bill payment, although by sticking to traditional advertising methods to promote this new functionality, take up has been slow – you can’t even find a YouTube video on this capability to-date. A number of banks are now incorporating NFC Contactless capability into their ATMs so that you’ll be able to use your NFC phone or contactless card to withdraw cash from an ATM, my SapientNitro pal Michael Degnan recently photographed one of these ATMs in action at a Bank of America location in New York.
BBVA’s ATM Rethink – Best Practice Today
BBVA have undoubtedly the best ATM design today out there, thanks to the design team at IDEO, and the collaboration of the team at NCR and Fujitsu. This is truly a rethink of customer experience on the channel and it works fantastically. It is light-years ahead of most ATM machines out there in the market today. The most impressive thing about this is that someone actually asked the question about what do customers want from an ATM, and how do we humanize the experience. ATMs are cold, impersonal pieces of technology – but BBVA has made the experience of using an ATM desirable, highly usable and massively efficient at the same time.
Where to go from here?
The next big thing in ATM will be the utilization of the phone as the ATM interface, rather than an ATM screen. After all, you can do everything you can do on an ATM on your phone, except get cash out – so if the ATM just dispenses cash than that’s fine. NCR has been working on this technology and Fast Company profiled some of their imaginings in November last year.