Check out the blog: https://medium.com/turingiq/customer-reviews-analysis-of-banking-apps-ca5ed3a619a7#.ej404ot03
We analysed a total of 6700 reviews collected from Google Play store during Nov and Dec 2016 to figure out what users feel about mobile banking and UPI apps. And more importantly, what banks need to do to compete against the onslaught of mobile wallets.
This is a summary of the full report, where we analyse customer reviews received by top 20 mobile banking and UPI. We identified top factors that that contribute to customer satisfaction, how much each of them matters and where each app stands.
For full report contact us at: mail(at)turingiq.com
2. Highlights of Analysis
6700 Customer reviews analysed from
Google Play Store
20 top Indian Banking and UPI apps sampled
during November-December 2016
3. Overall
Ease of Login
Usefulness
Fund Transfers
User-friendliness
Stability
Slow
Network issue
Feature requests
Other issues
0 25 50 75 100
46
46
46
47
38
52
45
56
38
47
Key Findings
Average scores# of Banking apps on critical components metrics
# - Refer Appendix for explanations of scoring used
Overall Score below
50 Shows Negative
Sentiments
4. Critical Issues
60% of customer satisfaction can be attributed
to “User-friendliness, Usefulness and Stability” of
the app
22% users have faced some bugs or
errors in banking apps
6 out of 10 UPI apps have negative
Net Promoter Score
22% users faced issues while logging in UPI apps
5. Mobile Banking Apps
These top scoring apps
consistently score high on
each of 8 component matrices
iMobile
Overall Score - 79
Contribution to overall
customer satisfaction
3%6%
6%
11%
16%
19%
19%
20%
Usefulness Stability
User-friendliness Ease of Login
Fund Transfers Slow
Network/Platform issue Other issues
Kotak Bank
Overall Score - 72
6. UPI Apps
PAYZAPP
Overall Score - 70 Overall Score - 69
• There are no clear winners
among UPI apps.
• Even top rated apps have of
login issues and technical errors
Contribution to overall
customer satisfaction
2%3%4%
9%
10%
15%
23%
33%
Ease of Login Stability
Usefulness User-friendliness
UPI/Additional features Network/Platform issue
Slow Fund Transfers
7. What users are saying
• First time registration, onboarding, login, OTP and
network issues are among the most common
problems
• A Good number of customers have enquired about
VPA, UPI integration with banking app
• More people want integration with bill payment and
recharge options inside the same application
• ICICI is the most preferred app amongst all and used
as an example by customers in reviews
• Customers want their Credit/Debit cards linked with
their payment options
• More security features like Fingerprint/Biometrics
scanning have been requested by customers
8. In association with
Analysis & Report by
Turing Analytics
Derive business intelligence using machine learning
mail@turingiq.com
www.turingiq.com
River MobileApps Infosystems Pvt Ltd
customerrelations@riverma.com
www.RiverMA.com
9. Appendix I - Score Calculation Method
Net Promoter Score is a widely accepted indicator of customer experience
management
NPS = %Promoters(5 stars) - %Detractors(3-2-1 stars)
For the scope of the report, NPS is normalised to 0-100 and used as overall score
We complement NPS with our proprietary metrics and insights from customer
reviews, to provide a comprehensive, actionable view of your customer experience
performance.
10. Appendix II - List of Apps Analysed
Banking Apps
• Axis Mobile
• HDFC Bank Mobile Banking
• iMobile by ICICI
• Kotak Bank
• State Bank Anywhere
• BoI Mobile Banking
• Federal Bank - FedMobile
• IDBI Bank Go Mobile
• PNB mBanking
• Yes Bank
UPI Apps
• AxisPay
• PayZapp by HDFC
• EazyPay by ICICI
• Canara Bank UPI- eMpower
• SBI Pay
• Union Bank UPI App
• Lotza-Upi, Federal Bank
• United UPI
• PNB UPI
• Yes Pay Wallet