The payment system noticed a lack of solutions in debit cards and money management on the local market and commissioned Markswebb to search for best practices. By using these practices, partner banks should have identify solutions that can be adopted from their competitors.
Audit trigger was in the need to increase user activity and engagement.
Solving tasks and issues through applications is more convenient than offline operations: transactions instead of cash handling, chat inquiries instead of visits to the contact center, etc. However, many clients continue to use old methods out of habit - they may be less convenient, but they are familiar.
Introducing clients to new features and encouraging them to use as many functions as possible is a major challenge that fintech faces today.
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Sometimes businesses know they need to improve their service but are unsure whether to start with competitor research, an audit, or something else. Other times, especially in large companies, there is a clear idea, and clients come with very specific requests.
The client in this project belonged to the second type. We received a specific assignment from the company:
When the work is conducted in a targeted, individualized manner, without researching "everything possible," UX specialists provide maximum detail on the practices or processes of interest. At Markswebb, we support this approach because we enjoy working precisely, quickly, and effectively; meanwhile, clients spend less time and money.
For convenience, we divided all the solutions into three major blocks: "Card Balance Information," "Debit Card Transactions and Transfers," and "Debit Card Management." Then, we examined 549 scenarios and identified 49 solutions that can help banks increase user engagement.
Here are a few examples.
What is the standard practice? It currently requires users to go through the full transfer process when they want to send money to themselves but to a different bank. This involves selecting the transfer request form, entering the recipient's bank and account details. Essentially, users perform the same actions as if they were transferring money to someone else, making it a time-consuming and inconvenient procedure.
How did the researched bank solve the problem? has addressed this issue by implementing a "To Myself" button in the transfers section. This saves time and eliminates the possibility of making mistakes during data entry. The system automatically detects all the banks where the customer has an open card, simplifying the process significantly.
What is the standard practice? Today, most services (not only in fintech) try to delay connecting to a human operator to "give a chance" to chatbots and relieve human resources. Sometimes, even after a repeated request, a representative may not join the conversation, which can be frustrating for the user.
How did the researched bank solve the problem? The bank connects users to a human operator after the first request. While this may slow down the transition to interacting with chatbots on a larger scale, it importantly preserves user loyalty.
What is the standard practice? Currently, to request a transfer from another client, you have to go through the entire procedure every time: select the request form, enter the recipient's number, amount, and message.
How did the researched bank solve the problem? The bank implemented the ability to simply repeat a previously made request. Now, the user has a screen with all outgoing requests, and they can repeat a selected one with a couple of clicks. This saves time and effort.
When all competitors are more or less equally good in terms of functionality, the battle for customers requires bringing out the "big guns" – emotions. If everyday tasks are not only convenient but also interesting to complete, users are likely to stay with a service that provides such a pleasant experience.
What is the standard practice? Currently, most banks onboard customers to new solutions through simple informational pop-ups ("We have a new feature..."). However, customers don't access the app just out of boredom – they have a task to accomplish here and now, and they often don't have time or motivation to explore new solutions, which results in these solutions being underutilized.
How did the researched bank solve this problem? It adapted the game "Monopoly" for its app and allows users to earn in-game currency by completing simple tasks. For example, making a purchase in a specific category or donating money to charity. This way, the bank engages users in activities they might not have pursued without the game element.
How did the other researched bank solve the problem? The internet cannot exist without cats. In the Monobank application, every action, including payments and transfers, is accompanied by an animated cat. The cat appears during waiting times, on success screens, and others. This evokes sympathy from the user and a desire to interact with the bank more – at the very least, to see how the cat behaves in other sections and during other actions in the application.
In this way, almost without realizing it, the customer becomes engaged in new activities, which is what the developers aim to achieve.
Currently, the client is looking for ways to increase user activity within banking applications, particularly motivating them to make transactions within the app. Through our research, the payment system effectively encourages partners to share practices that will help achieve this goal.
This case study demonstrates a strategic approach to identifying and implementing best practices in the banking industry. By partnering with Markswebb, the client was able to develop actionable insights and innovative solutions to enhance user engagement and increase app usage among partner banks.
This case study underscores the strategic approach taken to identify and implement best practices in the banking industry. By partnering with Markswebb, the client developed actionable insights and innovative solutions, resulting in increased user engagement and activity within their banking applications. The detailed, prioritized recommendations provided are ready for implementation, helping banks enhance their digital services, payment experience, and overall customer experience.
Through this partnership, the bank was able to support multiple payment methods, improve the payment process, and ensure compliance with payment card industry data security standards (PCI DSS). These efforts not only enhanced user experience but also reduced the risk of fraud and data breaches, ensuring secure and efficient transactions. The integration of digital wallets and various payment methods facilitated a seamless and effective payment experience for customers, positioning the bank as a leader in digital banking solutions.
Every year we conduct up to 15 studies of digital services. These are industry benchmarks that reflect the state of the market and trends.
