Banking Review

Substance over style

OPINION

The recent launch of the iPad2 did not disappoint Apple fans, with enough new additions to keep technology analysts entertained. Focus will now turn to the iPhone 5 and ongoing speculation it will include NFC technology to enable payments.

The fact each new Apple release receives so much mainstream press coverage is a sure sign the company has permeated the broader community. Apple shipped 100 million iPhones and 15 million iPads in 2010. That means millions of people, including a growing group of Australian consumers, are staring to expect ongoing improvement in the already slick interfaces delivered via mobile devices and, it could be argued, any screen.

Apple is training online banking users to be demanding, impatient and unforgiving on usability.

In the words of Brett King (Pie charts in your face), it’s time to start thinking about redesigning your customer interaction process.

There’s no doubt banks could deliver the vast amounts of information they hold about customers in a more appealing and user-friendly way. Yet few have moved to do so.

That it has taken devices to drive new thinking about information delivery and smart user design is a little like the cart coming before the horse. The challenge for financial institutions today is to anticipate customer expectations and start capitalising on data management to gain an advantage over those who have less access to data but a greater understanding of how to deliver it.

After all, substance should always win over style.