Among European banking customers, nearly a third (29%) are now mobile-only. Mobile banking apps have become an essential tool for money management, with millions of Europeans relying on them for their daily banking needs. Our latest Forrester Digital Experience Review™ sheds light on how well European banks are meeting customer needs and expectations with their mobile apps. In 2024, Forrester evaluated 11 leading European mobile banking apps to gauge their effectiveness and ease of use, and identify mobile banking best practices that digital banking executives should learn from. The Forrester’s Digital Experience Review™: Europe Mobile Banking Apps, Q3 2024 report reveals who the European leaders in mobile banking are, uncovers key findings about the current state of mobile banking experiences, and explores emerging trends that will shape the future of digital banking experiences.
Three European Banks Are Leading The Pack – Setting The Standard For Excellence
With its user-friendly app, BBVA emerges as the top performer in 2024. The Spanish bank delivers an increasingly immersive experience: A conversational virtual assistant allows customers to use natural language to search the app and information about their finances, while proactive notifications keep them engaged and on top of their finances. The Italian bank Intesa Sanpaolo follows closely. Its mobile app offers extensive functionality, intuitive tools, and innovative features that simplify financial management. In Poland, PKO Bank Polski stands out by enriching core banking tasks with innovative value-added services, such as integrated buy-now-pay-later (BNPL) options and geolocation-based payments. These leaders not only excel in offering innovative digital services, they also deliver superior user experiences that set them apart from their peers.
There’s Still Room For Improvement – And Opportunities To Shine!
This year’s review shows that top performers keep enhancing their mobile banking experience. But the evaluation also reveals that many banks still struggle to fully meet customer needs and expectations with their mobile app. For instance, banks need to work on delivering a more secure and inclusive mobile banking experience, by implementing more robust fraud and security measures, and focusing on inclusion and accessibility to deliver customer value and earn trust. Banks should also infuse AI in their mobile experiences in order to deliver more intuitive experiences and offer personalized experiences.
AI Is Starting To Transform Mobile Banking Apps
Banks are gradually shifting from basic search and chatbots within their app to sophisticated virtual assistants that anticipate customer needs and provide personalized financial guidance. As AI technology evolves, we can expect digital banking experiences to become increasingly seamless and immersive, transforming the app from a transactional tool into a trusted advisor – revolutionizing how customers interact with their banks.
If you’re a Forrester client, you can explore these findings in detail by downloading the report: The Forrester Digital Experience Review™: European Mobile Banking Apps, Q3 2024. And if you’d like to discuss this topic further or understand how your mobile app measures up, please reach out through an inquiry or guidance session.
