Today, banks need to manage a host of business critical applications to stay ahead of the game. Even as mobile banking continues to deliver optimized end-user experiences, banking via tablets may well be the next big thing. A new report from Juniper Research finds that a growing user acceptance of 'push' mobile banking and the rising tablet adoption will drive users of transactional tablet banking services to almost 200 million in 2017.
Considering this number, it is no surprise that banks are increasingly looking to include tablet-specific applications in their mobile offerings to enable compelling customer experiences. However, with tablets becoming widespread, banks must have a distinct strategy to customize their tablet banking offerings as per the different ways in which customers interact with the device.
Typically, the average tablet user has high expectations from website performance. A good web experience can provide great opportunities such as opening new accounts or wealth management services. As such, tablet banking enables financial institutions to effectively build enhanced customer engagement and loyalty.
Also, while rolling out mobile apps for tablet devices, banks must understand the importance of a tablet-friendly application. Merely porting over a smartphone app to a tablet does not lead to an engaging tablet-specific experience. Ideally, a tablet app should let customers get a deeper insight into aspects like interactive graphs and features. Further, tablet apps can offer a more intimate banking experience through larger screens that allow more interaction by integrating Personal Finance Management (PFM) tools. This means you can get a better look of your transactions or see the picture of a check clearly on your tablet.
A slew of banks have already rolled out tablet apps in the recent past. Two weeks after Wells Fargo & Co. launched their iPad app in December, nearly 2,00,000 users had downloaded it. Earlier, the Citibank iPad app was praised by Forrester for its interactive user interface and advanced personal finance management capabilities. Citi has a small team of employees who primarily create new offerings especially suited for tablets and also upgrade the bank's existing apps.
More recently, Danske Bank launched the first dedicated tablet banking app in the Northern Ireland market. The new tablet app provides a simple, personal 'dashboard’ of widgets that can be customized using drag-and-drop functionality, depending on the customers’ viewing preference.
In future, more and more customers will see tablets as a convenient way to connect with their bank 'anywhere, anytime, and from any place’. In order to drive successful banking relationships, it will be imperative for financial institutions to devise a tablet strategy that complements both online and mobile channels, as well as utilizes the intuitiveness of the device.