Today’s financial applications
From a Millennial perspective
In a study about customer experience conducted in 2016 by Katherine Lemon and Peter Verhoef, they stated that ”a seamless experience across channels through channel integration will create a stronger customer experience.” As our society is more and more driven by technology, our everyday busy life is interconnected with different applications. Therefore, convenient, all-in-one and customer-friendly solutions are highly needed in order to save time and personal resources. This is what Millennials want from their financial application. We at Bankify have talked with over 3 million Millennials and we want to share with you their opinion on what today’s financial application should look like. We’ve added some comments from Millennials regarding the different things they look in a financial application throughout the text.
Validation and verification from others
Easy to start, even easier to execute
Up to the current day standards
While every other aspect of a Millennial’s life is centered around connectivity and social aspects, banking apps are still stuck to its old ways. Gaming apps for example have been doing this for many years. Games such as Clash of Clans or Minecraft are having over 100 million players together every month, which only indicates how popular these social games are. Thus, financial applications should emphasize these social aspects, which there are many in the banking business. What banks need to realize, is that the services that a bank offers should and can be integrated online with the help of a financial application. Millennials don’t want to go themselves to a physical bank. Heck, these days they don’t even rely on needing to have a bank for financial help. Financial applications should be made with these facts in mind, in order to be modern, and most importantly, trusted by Millennials.