CROC Digital Insight, a consulting unit of IT company CROC, analyzed mobile banking user experiences with the Top 25 banks in Russia by asset value. Each bank was rated by 50 parameters and three areas: promotion, mobile banking functionality, and quality of digital customer support. Following the analysis, experts calculated a digital maturity index for Russian banks in the Mobile Banking category.
Ak Bars Bank ranked No. 1 in the Mobile Banking and Digital Customer Support categories with an index of 67% and 80% respectively. Tinkoff was recognized as the most functional mobile bank (84%), while Raiffeisenbank ranked first in the Mobile Banking Promotion category (73%).
“Today, all large Russian banks have their own mobile apps. App development, automation, and population with lifestyle functionality are key growth opportunities for banks since servicing customers via an app is 40x and 2x less expensive than via an office and online banking respectively. However, in Russia, there are still banks with no more than 1-2% of digital customers,” stressed Askar Bagaviev, Director for Digitalization and Transformation, CROC Digital Insight.
As of 2019, mobile banking coverage in Russia exceeds 71%, with only the emerging markets of Brazil, India, and China showing better results. The most popular user operations via mobile banking include payments for utilities, tax payments, and opening accounts and deposits. Although almost all operations, except for opening safe deposit boxes, are now available via an app, customers still go to bank offices to pay taxes (99%) and utilities (96%), open deposits (77%), and exchange currency (55%).
Also, disruptive technologies in mobile banking are not omnipresent yet. Among the Top 25 banks surveyed, only two offer synchronization with a voice assistant, three provide topic-specific materials and personalized recommendations (stories) based on Big Data, and only three have full-fledged chatbots for first line support.
The Mobile Banking Digital Maturity research, conducted from April to June 2019, utilized a mystery shopping methodology: experts first visited a bank, acquired a bankcard and then rated mobile banking promotion quality (10 parameters), tested mobile app usability (functionality rated via 25 parameters), and evaluated digital customer support (15 parameters).
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