Research

I am conducting a research to find what out what are the key features users want in their banking app, this research will be done based on people of the 16-25. I asked a few classmates about what their ideal banking app would involve, the majority had the same thoughts and this is what stood out the most:

1. A banking app that doesn’t require a card reader when adding a payee onto their app to transfer money.
2. An intuitive app that is easy to use, one that isn’t only befitting of the target audience but one that will also be easy for the elderly to use
3. An app that allows user to track their spending and income and also gives advice on money usage, savings, and future investments

Besides asking people in my age group I took the liberty to go to a near by bank, in this case HSBC, and over there I spoke to one of their workers about the functionality and features of their banking app and this is what I learned about the HSBC banking app:

The HSBC banking app requires a biometric log in for users to gain access to their banking app account, it also always requires a verification whenever the user pays for something online, and this feature prevents fraud activity, another useful feature their app has, is that if your card is ever declined the app will notify you and tell you why the card got declined. When adding a new account on the banking app the user would be transferred to the online website to open the account there. One feature that I love about the HSBC banking app that mine doesn’t have is the ability to instantly send money, HSBC allows customers to send a whopping limit of £50,000 in a day and that’s a very convenient thing for an app. Some people come in for the Digital Service that the bank provides

Besides asking in person questions I did some online research and discovered a survey that was ran by iSky in 2023 in 10 countries, and this is some of the features that people expect to have in a banking app:

• They want to be able to view their transactions and the details of said transactions
• They want to be able to cancel or freeze a stolen or lost card
• Access their bank statements
• Edit log in details
• Request new card
• Manage which cards are linked to their card

https://wise.com/gb/blog/best-online-bank-accounts

These are some of the best online banking accounts