3 real life examples how banks benefited from mobile and web push

In today’s competitive world, companies need to make sure they are offering the best experience possible for their clients. This is especially true in the finance industry, where both technological innovation, such as blockchain technology and legislative changes like PSD2, are changing the landscape.

Advancement in mobile technology resulted in customers using their smartphones more often than ever before. Utilizing smart mobile technologies can help in improving the relationship with customers via the mobile channel.

For example, Localytics found that mobile notifications increase user engagement with 88%, while 65% of the users who have push enabled, visit the app again within 30 days.

6 stats that prove how important push notifications, in-app messaging are to your apps success.

Due to its popularity and usefulness financial institutions are already busy utilizing mobile and web push to enhance their customer experience and improve their services. It doesn’t matter if we talk about web push, mobile notification or in-app message, all of these can be used in a creative way!

Below are three real life examples for each three of the above-mentioned notifications types, from banks in different parts of the world.

Provide relevant, value added services for customers, based on online behavior

One way how a company can make use of the information they have available regarding their clients is to offer personalized services and information to them. Providing the right information at the right time to the customer can be immensely useful for the client and beneficial for the bank in order to be able to leverage their available service offerings.

For example, Axis Bank in India created targeted web notification for customers about one of their credit card offering, based on specific browsing behaviour the customer was doing on their website. By targeting specific customers, who actually showed interest in this service, instead of sending their message to every visitor, the bank could achieve great results.

Among the users who received the notification, 36% became positive leads.

Axis bank case study

If you would like to see more examples how to use web push to enhance your online service, please stay tuned in the upcoming weeks for our next article about web push notifications.

Create location based mobile notifications

Another great way to leverage push services is in combination with location based services. These are hyper relevant, as companies can offer something to their customers in that very moment that suits the situation.

TBC Bank in Georgia, offers their customers location based push, such as user experience surveys when leaving the branch office and special offers on festivals and events, which the bank sponsors. These offers are obviously great for the customer and the surveys offer brilliant additional contact moment.

On average, they achieved almost 20% higher open rate with location targeted mobile notifications.

Increase the quality of your mobile offering and review rating

In-app messages are another form of mobile notifications, which happen inside the application when the customer is using it. One way to utilize in-app messages is to boost your app rating in the store by asking the customer to review it.

Once the customer has been using the app for a while or after a positive experience in the app, an in-app message can prompt the user to place a review in the app store.

There are many examples of apps achieving higher ratings in the store with this technique, one of them was BNP Paribas, which increased their app store rating from 2.5 stars to 4 stars!

It goes without saying that in order to get a good review from the customer the app has to be great and offer an outstanding user experience.

BNP Paribas push notifications and in-app messages case study.

Conclusion

Whether a financial institution wants to improve their mobile or web experience it’s all possible with the help of notifications. Smart technologies, such as location and browsing behavior tracking can enhance and personalize these communication channels. Staying relevant and offering a personalized experience is of great importance in today’s competitive market.