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Banks are improving their mobile apps to make them convenient for customers to complete transactions without going to the branches. Right from the start of the pandemic, mobile apps have been the most preferred customer-interface for banks. 

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The Reserve Bank of India (RBI) has regularly pushed banks to strengthen their information technology infrastructure. It also asked HDFC Bank Ltd, to halt new digital banking initiatives till it fixes problems that have caused three outages in its e-banking services since 2018. It came as an unprecedented action from RBI. 

On similar lines, the Bank of Baroda has been looking to redesign its mobile app, which had 11.43 million downloads on Google Play Store earlier this year. The bank is even hiring an agency to identify the hassles faced by customers. “The bidder will interact and conduct workshops with stakeholders to understand, compile, and collate pain points with a solution. Stakeholders may include customers, bank business departments, bank functional teams, and control and support functions,” Bank of Baroda said in a document on its website.

Mobile apps have become a famous choice for millions of customers. Over 70% of customers manage their finances on an app or website using smartphones, technology researcher Forrester said in a report dated 3 September. It further added that mobile apps of most of the major banks, except ICICI Bank Ltd, falter in terms of full functionality. “Banks can win in mobile by reducing the cognitive load on the customer. This means identifying customers’ top tasks on the app and prioritizing features and design updates that support these,” it said. 

ICICI bank, on the other hand, allowed the customers of its rivals to use its app. The move is expected to help the bank expand its customer base by allowing new users to open savings accounts digitally and access other services. Anup Bagchi, executive director of ICICI Bank, said in a statement on 7 December that the bank realised that customers find it tiring to use multiple apps for different purposes. They have been looking for a single app for all kinds of banking and payment needs. 

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