In April 2019, Markswebb launched a consulting project to improve a major mobile bank. As a result, by the end of 2019, the service closely approached the market leaders. Additionally, the update positively impacted business metrics: the number of online transactions increased by 25%, and their volume by 29%.
Bank's goal: A mobile application at the level of the top 3 in the Mobile Banking Rank.
Constraints: Development time of six months and a team of 27 people.
Contents
Historically, this mobile bank's clients were primarily attracted by investment services, while banking services helped them manage their money more conveniently and quickly. At the end of 2018 and the beginning of 2019, the decision was made to increase the role of banking services across the group to achieve two goals:
To implement this new strategy, it was necessary to quickly upgrade the application to the level of market leaders. When Markswebb joined the mobile bank project, the team had already decided to focus on banking products and their management.
The question was what to do next: how to increase functionality and make the app simpler and more convenient.
"We have our ways of getting feedback, but to evaluate our work, we need a comparison with the market. This is important to be able to tell ourselves: yes, we have created a top-level mobile bank."
Dahir,
Director of Digital Channels Department
"For us, at the start of the project, it was crucial to immediately build the mobile application correctly and develop it according to the best practices. We all have a good background and experience within the team. But it's another thing to consult with people who have been studying the market for 10 years and understand where, what, and how things are changing, and where banks are heading."
Dahir,
Director of Digital Channels Department
During the backlog implementation phase, we compared planned changes with market trends, provided feedback on layouts, and evaluated the implementation.
A financial management app at the level of market leaders (4th place for Android smartphones, 7th place for iPhone), and a digital office at a solid mid-level (12th place for both platforms).
Almost everything was addressed: changes impacted onboarding, managing existing products and opening new ones, payments and transfers, settings, and more. The interface was significantly redesigned: the structure of the main screen and navigation to essential functions became much simpler. The app now features capabilities that match the cutting edge of digital banking and even unique solutions for the local market.
This case study demonstrates the successful improvement of a mobile banking app through a comprehensive approach involving user research, usability testing, benchmarking, and strategic backlog prioritization. By addressing user experience issues, expanding functionality, and ensuring efficient implementation, the project significantly increased the volume of online transactions and improved overall business metrics. The collaborative effort between Markswebb and BCS bank highlights the importance of understanding customer needs, leveraging market best practices, and making data-driven decisions to enhance digital services.
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