Customers use less than 50% of mobile banking features: FSS study

Customers are using less than 50 per cent of the features available in the mobile banking apps, according to a report published by global payments technology company FSS (Financial Software and Systems).

According to the study, ‘FSS Digital Banking Trends – 2019’, most banks offer 200 plus transaction sets and continue to expand through new use cases, technologies, and transaction types. However, customers use merely 50 per cent of available services.

Plethora of services

Banks have introduced a wide array of services, but financial product marketers need to strengthen monetisation capabilities by moving away from utility-driven, one-size-fits-all approach and introduce segmented tailored offerings, the report noted.