Digital channels product teams often compare the level of user experience with neighboring countries to identify strengths and weaknesses, and find recommendations for further improvement. To do this, we familiarize ourselves with the specifics of the market, adapted the research methodology, determine the client's competitive position through rankings, and collect examples of best implementations that serve as references for the backlog.
We did it for one of the banks operating in Belarus. Researchers proposed 51 tasks, highlighting growth areas and recommendations.
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To eliminate the influence of the country's specifics, we adapted the methodology of Business Mobile Banking Rank research. At the project's outset, we clarified the peculiarities of legislation and industry regulations, differences in financial products, and gathered information about the needs of small and medium-sized businesses.
Banks prioritize tasks differently due to market specifics and client demands. For example, in Belarus, there is a high demand for currency operations due to trade relations with neighboring countries. Product team focus on enhancing the user experience in mobile applications so that currency control issues can be resolved "on the go." In other countries, a significant portion of currency-related features is implemented in online banking and requires access to a computer.
By reworking the methodology, we examined the client's mobile application through 100+ user scenarios, both expertly using a checklist and with respondents in usability tests. We evaluated the quality of the customer experience for individual entrepreneurs and for small or medium-sized business owners.
Here are a few insights and examples of implementations that are universally useful for mobile business banking, regardless of the country.
We suggested creating a convenient showcase of core several financial products, such as acquiring, deposits, and loans with an option to access it directly from the main screen.
The application for trade and internet acquiring in most banks is presented as a callback order form. This interaction format does not consider the user's need to gather maximum information, have the ability to independently choose a suitable option, and track the status of the submitted request.
The convenient solution allows users to handle all tasks in one place. Users can navigate to the trade or internet acquiring application from the product showcase within the mobile app, and there is up-to-date information on connection and usage conditions. Colored tags help track the status of the application, such as "Application Rejected" or "Contract Preparation."
Deposits are attractive to businesses as a self-restriction tool that helps preserve money until a specific date. Loans help attract additional financing, such as overcoming financial difficulties, bridging cash gaps, or scaling the business. These are frequently encountered issues for entrepreneurs and an opportunity for banks to earn and strengthen customer loyalty.
We suggested deposit opening through the "Products" section in mobile banking app. Inside, there is a calculator, where customers can immediately enable or disable additional options such as partial withdrawal and interest payment frequency. After clicking the "Open Deposit" button, users can review the conditions and proceed to confirm the application with an SMS code. The link can also be placed on the main screen.
"Counterparty" is a key entity in an entrepreneur's daily routine. A full set of tools for interacting with them is an important part of a modern mobile bank for businesses. However, even among leaders, the counterparty directory is often presented merely as an auxiliary tool for filling in document fields.
In addition to basic information, customers need a history of transactions, turnover statistics, and the ability to create payments, issue invoices, and generate documents. Necessary information must be available directly in the counterparty card, and a list of additional options can be accessed through the kebab menu or the "+" button.
When financial monitoring raises questions about a business, entrepreneurs typically have to spend time visiting a bank branch to obtain the necessary documents. The bank can alleviate the stress level.
For example, notify users through a clickable banner on the main screen of the application. Upon clicking, the client can be directed to a page with details of the request and a list of required documents. Here, they can upload the documents through a special form that accepts photos from the phone as well as doc, pdf, and xls formats.
After, a bank can inform the client about the results of the verification through a banner on the main screen of the mobile bank. Recommendations to avoid recurring issues are included in the message details. The same message is duplicated in the chat.
If a company receives payments for its services in foreign currency, it is required to provide documents confirming the legality of the transaction within 10 days. A bank can give users an opportunity to do this directly from the mobile application: to specify the contract, invoice, amount, date of receipt, and type of work.
Another useful advantage is the ability to exchange currency at the exchange rate, which is displayed with the bank's margin taken into account. The quotes are updated every 3 seconds, and the transaction is executed instantly.
The research helped the client identify new areas for growth, reassess prioritization within the existing backlog, and begin working on them. Some of the recommendations turned out to be unique. For example, the task of developing the online chat was not in the immediate plans of the Alfa-Bank Belarus team, but after the audit, it became one of the main priorities. In larger areas, we assisted with decomposition. For example, projects related to loans and deposits were already roughly planned, but the audit helped identify and prioritize specific tasks.
Together, we have already implemented around 16 recommendations from the report. The feedback from customers has been positive.
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Every year we conduct up to 15 studies of digital services. These are industry benchmarks that reflect the state of the market and trends.