Crashing Apps Affecting Mobile Banking Users

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Checking on account balances and viewing transaction histories are the most common tasks customers perform in financial mobile apps, according to a study from Virtual Hold Technology (VHT). But ­more than 70% of users encountered problems such as apps freezing or dropped internet connections that prevented them from task completion, the study shows.

More than 94% of those who have downloaded financial smartphone apps use them to check account balances, while 90% view transaction history. Sixty-five percent of users transfer funds while 60% schedule or modify payments or online bill-pay. Less than 1% deposit checks, locate ATMs, cash in reward points or send money to others using financial smartphone apps.

But a variety of problems, such as the app crashing or freezing (28%), dropped internet connection (26.4%) or insufficient transaction details and filtering options (25%), prevented users from completing the task. Seventy-two percent of users said they had become frustrated while using an app because they encountered difficulty completing a task or achieving a goal. Hurdles also included problems opening, logging in or setting up the app, missing pending or historic transactions, and other difficulties.

"Customers today who try to use self-service within mobile apps become extremely frustrated when these options fail and they have to start over again to resolve a problem or complete a task by calling customer service and waiting on hold," VHT CEO Wes Hayden said. "Our Conversation Bridge tap-for-a-callback technology relieves this frustration and transforms their experience."

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Tags: [mobile banking]  [mobile apps

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