Against app fatigue: value-added services in digital banking
An app for breakfast from the bakery, one for the bus to work, another app at the hairdresser's, and so on - the number of mobile apps is growing and growing. At the same time, users are getting tired of constantly searching for the right app, constantly downloading new apps, and always having to accept new, eternally long, terms and conditions. This phenomenon even has a name: App fatigue. So what to do? A new additional app doesn't seem to be an option. How to stand out? What to offer?
Bank wallets as the foundation for future success
The only effective treatment for app fatigue is a super app: a wallet that combines multiple applications. One app - many functions. That's exactly what users want. Mobile banking apps or bank wallets are the ideal starting point for this. Expanding this basis to include additional offerings is the decisive development that can give us a head start in the future.
Value-added services wake people up
Value-added services in digital banking are basically all offers that do not revolve around finance and financial products. Bank customers benefit from additional offers in an app that they already use. There are also advantages for the banks: they increase their revenues, collect insightful data, are more attractive for customers, and significantly increase the incentive to open the banking app.
Integration of a platform
Banks have a decisive advantage over other app providers: their reputation. The trust placed in banks and their apps is transferred to the additional offerings in the banking app. Users don't have to sign up for an additional app. So there is no app fatigue in sight. Each additional offer increases the attractiveness of the banking app and the frequency with which it is opened. To avoid having to negotiate and conclude a contract with each provider separately, we recommend integrating a platform with a wide range of functions - such as our customer loyalty platform.
Analyzing user data in a super app makes it possible to personalize both banking and non-banking (services) to a much greater extent. Information that can be derived from the behavior of app users can, on the one hand, be exploited by the banks themselves. On the other hand, it can also be turned into money for profit.
App fatigue? Not with these options
And what else helps against app fatigue? Anything that keeps you awake or wakes you up. Lifestyle functions can be integrated into super apps and wallets. Keyword gamification - that really keeps you awake ;). Ideally, users use a banking wallet not only when they need something, but also when they want to be entertained. Nothing better can happen to you and your banking app.
Banks that offer their customers additional services in the banking app are clearly ahead of the competition. One app - many options. This drives away app fatigue among users and brings banks app openings with all the associated benefits. Are you awake? We'll be happy to inform you!
