Personalization in mobile banking: strategies to enhance banking UX

Personalization in mobile banking is no longer a luxury - it is an expectation. Users demand interfaces and functionalities that adapt to their preferences, streamline their interactions, and anticipate their needs. Banks that deliver personalized experiences gain a competitive edge, increasing customer loyalty and engagement.

In our latest Mobile Banking Rank 2024 research, we clearly observed that leading apps actively leverage personalization to enhance the user experience. This includes customizable dashboards, dynamic financial recommendations, and tailored notifications.

These features not only improve functionality but also create a sense of relevance and value for the user. In this insight, we’d like to share some of the details.

Examples of effective personalization in mobile banking

Markswebb evaluates mobile banking apps using a proprietary, proven methodology that combines rigorous analysis and real-world testing. Our system focuses on how well apps meet user needs, from everyday banking tasks to complex financial management. By examining hundreds of criteria and simulating user scenarios, we identify not just the features apps provide but how effectively those features solve real problems.

This insight stems from our Daily Banking evaluation system. For more findings from this area or insights into the Digital Office evaluation, don’t hesitate to reach out - we’ll gladly share more details.

By the way, we’ve launched a series of publications about the methodologies and behind-the-scenes processes of our research. Two articles are already live Analyzing Markswebb's chatbot evaluation system and What’s behind Markswebb’s ratings: online business banking, and an in-depth breakdown of the Mobile Banking Rank methodology is coming soon. Stay updated by visiting our website and subscribing to our newsletter!

So, in the Mobile Banking Rank 2024, personalization emerged as a standout factor driving user satisfaction and loyalty. Below are examples of how leading apps from the scope of our research implement effective personalization to enhance the customer experience.

Shifting from functional to emotional communication

Some apps move away from purely functional section names like "payment refunds" and replace them with intuitive and emotionally resonant terms such as "Benefits". This approach simplifies navigation for a broader audience and highlights the value of available offers. Examples include:

  • "Benefits" sections: Grouping cashback, referral programs, and exclusive offers under one label to enhance clarity.
  • Tab-bar placement: Promoting visibility by positioning these sections prominently in navigation menus.
  • Informative indicators: Using notifications and visual cues to draw attention to active rewards or new offers.

Customizable dashboards

Several banks now allow users to customize their app's main screen, catering to individual preferences. Users can prioritize payment shortcuts, account balance overviews, or investment widgets. Examples of implementations include:

  • Drag-and-drop customization: Users can rearrange widgets, such as recent transactions or savings goals, with ease.
  • Dynamic widget suggestions: Apps propose frequently used tools based on user activity, such as loan repayment trackers or currency exchange rates.
  • Color-coded account summaries: Helping users quickly distinguish between accounts by applying unique visual markers.

Proactive financial health tools

One app excels with its "Financial Health" section, offering personalized insights and actionable recommendations. Examples of key features:

  • Behavioral comparisons: Showing how users' savings or spending habits compare to those of similar demographics.
  • Goal tracking: Enabling users to set financial goals, such as saving for a major purchase, with progress updates and tips.
  • Spend categorization: Breaking down expenses into categories like housing, leisure, and essentials to identify saving opportunities.

Personalized recommendations

Leading apps integrate tailored investment and savings recommendations seamlessly. Examples include:

  • Transaction-based suggestions: Recommending deposit options for users frequently transferring funds to savings accounts.
  • Portfolio improvement tips: Offering suggestions to diversify investments, such as switching to higher-performing mutual funds.
  • Onboarding-linked offers: Presenting personalized products during account setup, like starter investment plans or bundled services.

Harnessing global fintech insights for personalized banking

The future of banking lies in adopting the best practices from the global financial services market while ensuring their relevance to specific customer needs across diverse regions. By analyzing vast amounts of customer data, banks can identify patterns and predict customer needs, allowing them to offer personalized financial services that resonate with users. Digital personalization not only bridges the gap between international standards and local expectations but also enhances customer engagement and satisfaction across markets.

At Markswebb, we explore the top personalization strategies used by leading mobile banking apps worldwide. By reusing and adapting these practices, banks can tailor their offerings to meet individual financial goals, improving customer relationships and strengthening loyalty.

To further this effort, our extensive collections of best practices offer actionable insights into how banks may deliver personalized experiences that drive customer acquisition and retention. Explore our demo collection, featuring a curated selection of strategies to enhance your bank’s personalization efforts. Let us help you create a blueprint for implementing these solutions in your services, ensuring you stay at the forefront of the future of banking.

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    External factors shaping banking development in 2025

    Personalization is just one facet of the broader trends shaping the future of banking. External forces like the rise of artificial intelligence, open banking frameworks, and the growing adoption of digital currencies are redefining how banks operate and deliver value. As we look toward 2025, these interconnected trends emphasize the need for financial institutions to innovate continuously. Personalization, driven by AI and data integration, will remain a critical factor in meeting customer expectations and staying competitive in a rapidly evolving landscape.

    Artificial intelligence and personalization

    AI continues to revolutionize the banking experience by enabling deeper personalization and smarter automation. From tailored financial recommendations to real-time fraud detection, AI is empowering banks to offer intuitive, data-driven services that adapt to each customer’s needs. Personalization, as a result, is becoming the standard for customer retention and engagement.

    Open banking

    The rise of open banking frameworks is fostering greater collaboration between banks and third-party providers. By leveraging APIs to securely share customer data (with consent), banks are building integrated ecosystems that offer enhanced services, such as aggregated account views, seamless financial planning tools, and innovative payment solutions. This trend is expanding competition and redefining customer expectations.

    Digital currencies

    Central bank digital currencies (CBDCs) and blockchain-based assets are transforming the way people interact with money. These technologies promise faster, more transparent transactions while reducing dependency on traditional financial intermediaries. As digital currencies become more prevalent, banks will need to rethink their strategies to remain relevant in a decentralized economy.

    These factors represent both challenges and opportunities for the industry. By embracing innovation and focusing on strategic priorities, banks can navigate this complex landscape with confidence. At Markswebb, we’re ready to help you identify growth opportunities and align your digital strategies with the trends shaping 2025.

    Let’s collaborate to shape the future of banking!

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