Episerver analysis has released findings from “In Future of Finance: The Mobile Money Report” that revealed financial services providers fail to meet consumer needs on mobile devices, the company said.
The report said 15 percent of financial institutions do not have a mobile application of any kind, suggesting that retail banks and insurers are failing to meet consumer expectations for the mobile experience.
Episerver analyzed the mobile capabilities of 20 US financial services companies, from mobile applications to mobile sites on both Apple and Android-powered devices. The study found 68 percent of financial providers provided Android tablet apps, and just 62 percent provided iPad apps. Several of these were stretched versions of the smartphone apps.
The same study found that only two in five financial services providers have implemented responsive design, indicating mobile site design is not a priority for 60 percent of financial retailers.
Episerver found that 63 percent of consumers will abandon a mobile site for a competitor if it proves difficult to access, confirming that usability is a necessary component to a quality mobile experience across industries.
Episerver is a provider of a single platform to manage digital commerce, content management and digital marketing in the cloud.