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Micro-interactions to Build Habit Forming Banking Apps

Tell us what you have in mind

When was the last time you have visited a bank branch? Going to a bank branch is becoming more and more rare due to the mobile apps. In a decade, smartphones will replace the physical branches as the main mode of managing your money, but still they are not getting expected traction from their user and it’s all because of poor engagement methods they are using to interact. What are the basic and crucial pointers to build these micro-interactions better and give users a quick and meaningful experience every time they visit your app.

Get the basics right for banking apps

We want to perform each and every task on a smartphone, our mobile app should be such that going to branches are no longer required. However, most of the dashboards of banking apps are a mess, yep it’s a fact that not everything can fit a small smartphone screen. Instead of cluttering everything on a small screen, banks should have a flawless interface, focusing on prioritizing features for mobile apps, keeping ones on the top that users will need on the go.

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Generally, we use apps to check balance, doing transactions, transferring money, but having all your accounts under one roof, your mortgage accounts, credit cards, bills and even bonds will be really good to have. And even gentle reminders to connect your new credit card if haven’t already.

Having trouble login

It’s a shame if you have to open your bank account each time to fetch some elementary details like balance. How about simplifying this entire process, where you don’t have to log-in and these simple details can be sent to you via push notifications. Not only the big announcements like fund transfers, but for any activity pertaining to your account. It would have been a dream feature if apps cue you of low balance before you could be fined for it.

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Remember ME

We get our salary on first (generally we all do), so we eat out, do shopping, but at the same time pay our bills, make investments, and do some savings too. Mobile apps should be more interactive; remembering and reminding us of these recurring monthly transactions. An intuitive transaction list displaying the recurring transactions on the top and even the upcoming payments that need to be taken care of.

How secure my app is?

Security is an important concern while doing transactions online. Although we carry our smartphones everywhere, it’s a heartache if you lose it and with that your important banking information. But a fingerprint-based login along with a pin support can really make you feel secure. Also, it’s really arduous to remember all your card numbers and hell broke lose if it’s lost or stolen. It would be awesome to have a feature where you can report a lost or stolen card right from the banking app.

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Let catch up… I am in town!

Some cards need to be activated when traveling abroad and at times, we just forgot to deactivate them after coming back. An intelligent banking app should detect your location and reminds you to activate and deactivate your card. It will be wonderful to find close-by ATMs and physical branches based on your location too right on your app. While traveling within the city as well, your app should send you a notification about an attractive offer going on nearby shops.

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No cash, just give me a ring

Most banks are really skeptical about transferring money to a new payee, but it’s a little annoying to add a payee and wait for that payee details to get confirmed by the bank so you could make a transaction. Some banks allow transactions to a new payee only after 24 hours, argh that’s long. It will be great to be able to transfer money to a new payee instantly, but it would be simply awesome to transfer money to anyone in your phone contacts.

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Forgot something, no worries

Do you want your banking app to be limited to just transactions? We don’t. An awesome banking app should also be handy when you forgot to carry your debit card. If you are close to a cash machine, your app should send you a temporary password to take out money by flashing your smartphone. Not just that, it should also have cloud storage where you can store your financial documents and access them on the go. You should be able to click your image to open a new account or later reuse it.

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Fintechs are here to disrupt the traditional banking system. These next-gen financial tiny tots are showing a lot of potential, and banks have to deliver a convenient, value-oriented and a more customized experience to compete in an already overcrowded market. Micro-interactions can become a key weapon of banks to combat fintech startups and they have to use it smartly to make their UX experience better.

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