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Byte-Sized Banking: The App Experience

2024 Report

Based on insights from 1,300 digital banking customers in Australia and New Zealand, find out how seamless user experiences and proactive tools are shaping the future of banking apps in our latest report prepared in partnership with Experian.

Download Report
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Mt Homepage Footer Swirl

Byte-Sized Banking: The App Experience

2024 Report

Based on insights from 1,300 digital banking customers in Australia and New Zealand, find out how seamless user experiences and proactive tools are shaping the future of banking apps in our latest report.

Untitled Design (61)
Mt Homepage Footer Swirl

Byte-Sized Banking: The App Experience

2024 Report

Based on insights from 1,300 digital banking customers in Australia and New Zealand, find out how seamless user experiences and proactive tools are shaping the future of banking apps in our latest report.

Download Report
Untitled Design (61)

CUSTOMERS RELY ON BANK APPS FOR BUDGETING

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With the increased cost of living pressures weighing heavily on the shoulders of everyday Australians and New Zealanders, banking customers are tightening their belts and relying on banking apps more than ever.

  • 57% of digital banking customers report using their banking app between 3 and 10 times a week.
  • 28% of digital banking customers log into their app more than 10 times a week to check-in with their budgets, review their savings goals, transfer money or track their spending.

We identified that using a banking app to develop and manage a budget, as well as map out a savings plan, was the most popular method for money management.

HOW CUSTOMERS FEEL ABOUT THEIR BANKING APP

  • When it comes to using banking apps, the consensus is that they’re generally good to use and meet specific customer needs.
  • However, there is a clear need to transform the bank apps of today into a one-stop financial-shop to give the customer more control over their money management, which aligns with the sentiment towards using a banking app as the primary tool for managing finances.
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FEATURES CUSTOMERS WANT IN THEIR BANKING APP

Banks can seize the opportunity to transform their apps into comprehensive financial hubs that offer personalised advice, enriched transaction data and sophisticated financial management tools.

By doing so, they can not only meet the rising expectations of their customers but also strengthen customer loyalty in an increasingly competitive market.

Download the report to discover what features customers want in their banking app and more.

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Explore the Moneythor Solution

Powered by real-time data analytics and behavioural science, the Moneythor Solution delivers un-matched, data-driven and personalised experiences to customers across all digital banking channels. Examples of these include money management nudges, budgets, savings goals, predictive forecasts, financial literacy material, referral campaigns, gamified experiences, loyalty programs and more.

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