Indian banking app lags

Due to renewed push for digital platform because of the Covid-19 pandemic, most Indian mobile banking apps, are behind the curve on functionality, says a new report from market research firm Forrester.

Almost 70 per cent of Indian online adults with a bank account do their banking on a mobile app or website using their smartphone, show data from Forrester.

Compared to 2019, banks have improved their user experience only marginally and lag behind in functionality, said the report which evaluated the smartphone apps of five banks in India — Axis Bank, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, and State Bank of India (SBI).

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“While banks have been focusing on improving UX (user experience), they do not give equal attention to all aspects of it. ICICI Bank does a good job of streamlining payment experiences but can do better at error prevention” read a report.