Banks in Emerging Marketing Not Ready for Mobile, says SunGard
Software and technology service company SunGard has released the results of two surveys, carried out by consultancy firm Celent, of more than 1,000 consumers and 100 banks in eight countries across the Middle East and Southeast Asia. It concluded that banks in emerging markets are struggling to keep up with the expectations of their customers, as less than half of respondents in the Middle East – and just over half in Asia – felt their bank understood and responded to their needs.
Banks in Southeast Asia – where 63 per cent of banks offer native apps – are better prepared than those in the Middle East – where that number is 25 per cent – but there are issues in both cases. Only 34 per cent of Asian banks and 17 per cent of Middle Eastern banks currently have Tablet offerings of any variety.
“Increasingly, online channels present consumers with more freedom to shop around,” says Dean Young, vice president of product management for SunGard’s banking business. “Banks need the ability to understand their customers’ needs, in order to create a better user experience, which in turn will help to capitalize on cross-sell opportunities, build customer loyalty and improve profitability.”
Building on the research, Celent has developed the SunGard Bank Readiness Index (BRI), an online tool to help banks benchmark their ability to cater to customer expectations. The BRI uses 17 parameters, and aggregates banks’ capabilities across four metrics.