The longstanding ideology of physical banking has transitioned into one dominated by digital experiences. This is beneficial for customer convenience, yet it forces banks to offer the same level of service on their apps and websites as they do in physical branches - all through secure and easy-to-use platforms.
While they have come a long way, regulation and legacy infrastructure continue to slow down digital innovation. Only 64% of customers feel satisfied with their banking app, and turn to other peer-to-peer and budgeting apps to fill in the gaps. Hobson & Company, a research firm focused on ROI studies, worked with Applause to explore how crowdsourced testing addresses these banking challenges.