First results of the study
The study is now ready. It took a bit of effort, but 40 banks and 186 factors are not that easy to analyse, and even less so at a time of year where the pace of work picks up to such a degree.
Just to whet your appetite, here are the first 5 conclusion of the study and the top 10:
- The online marketing of financial products is not generally extended . Only in the United Kingdom and the United States have we found initiatives which let you sign up for their full range of financial products. Not doing so leads us to think that banks adopt less aggressive approaches. This is partly why the Anglo-Saxon banks are so far ahead of Latin American and Spanish banks in terms of persuadability.
- Generally speaking, the ?usability? stage has already been surmounted on the commercial websites of the banks we analysed . There are good marks for architecture or browsability, although there is still room for improvement in product categorisation.
- However, what is missing is commercial intelligence in the offer of architecture and browsing. One clear trend is to internalise the “less is more” concept and launch more targeted messages and offers based on user behaviour on the website . A user who is already a client is not the same as one who has never logged in or one who reached our webpage by Googling the word ?credits? or ?insurance?.
- Banks are starting to understand linearity in the process of information and signing up for financial services, although this is not widespread as yet . However, not all the banks articulate selectors or sufficiently-interactive simulators which invite users to flow through the process. There is still work to be done at the level of facilitators which help take a decision. We found that a small percentage of banks help select the product best suited to our requirements. There is still a pervasive idea that the user should do all the running. Simulators are, in too many cases, just extra resources which do not fit linearly into the process of signing up.
- Banks are still drafting web texts without understanding users’ reading or browsing logic , although there has been considerable improvement, given the less-frequent use of technical language. However, we found a distinct lack of texts which balance what is rational and what is emotional in a clear presentation of the product.
According to our study, these are the 10 best banks: