Mobiquity+交互式數(shù)字銀行功能雷達

INTROFULLRADARFEATURESRADARQ3

2022DigitalBankingFeaturesRECOM-MENDAT-IONSCONTACT1IntroductionINTROFULLRADARFEATURESRECOM-MENDAT-IONSCONTACT2INTRODUCTIONForewordINTROInspirationfor

bankingfeaturesFULLRADARPETER-JANVA

N

DE

VENN,VPGlobalDigitalBanking,MobiquityFEATURESCustomerexpectationsfordigitalbankingservicescontinueto

grow

at

anexponentialrate,dueto

technologicaladvancementsandconsumersincreasedexperienceusingbigtechintheirdailylives.Asbanksworkonimprovingtheircost-incomeratiosandwithgrowingeconomicuncertainty,thereisincreasedpressureonITbudgets.Asaresult,banksmustcarefullyconsiderhowto

spendtheirdigitaltransformationbudgetsinthemosteffectiveway

andplacetheirfocusonimplementingfeaturesthatcanbothimprove

theconsumerbankingexperience,andensuretheyremaincompetitiveinacrowdedmarketplace.built,inparalleladifferentiatingfeaturesroadmapcanbeputinplacereadyto

beimplementedimmediatelyaftertheinitialMVPlaunchininnovationreleases.Notsurewhereto

begin?ThisseconditerationofourDigitalBankingFeaturesRadaristheperfecttoolforgaininganoverviewofthevariousbankingfeaturesandfunctionalitiescurrentlyofferedworldwide.You

don’thave

to

beat

theforefrontofinnovativefeaturesto

make

animpact.Neitherdoyou

needtoimplementadvancedinnovativefeatures.Whynotstartby

assessingyourcompetitionandseeingwhatworks

forthem?Fromthereyou

canstarttodevelopyour

ownmust-havefunctionalitiesroadmap,alongwithde?ningwhatdifferentiatingfeaturescanworkwellforyour

customers.However,

it’s

importantthatyou

?rsthave

aclearunderstandingofyour

targetgroup,stakeholdersandbrandpromise,to

make

surethefeaturesselectedwillresonatewithyourcustomers.RECOM-MENDAT-IONSCONTACTFromouranalyseswe

identi?edthatalmost80%ofthedailybankingfunctionalitiesretailbanksprovideto

customersaresimilar.Leavingjust20%functionalitywherebankscanreallydifferentiateandget

innovative.Whenconsideringwhereandhowthebudgetshouldbespent,it’s

criticalto

?rstensurethatthefoundational80%ofbankingfunctionalityiscreatedinthemostef?cientway

possible.Oncethissolidfoundationisinplace,themajorityofthedigitaltransformationbudgetcanbespentonthedifferentiating20%functionality.Usingourinteractiveradar,you

cangainabetterinsightintowhatfeaturesbankscommonlyuseandareconsidereda‘hygienefactor’foryour

MVP,

whatfeaturesareusedto

delightclients,andwhatfeaturestrulysetbanksapartfromthecompetition.Howcanbanksmaximisereturnoninvestment?The?rststep

isto

de?nethemust-havefunctionalitiesandstartby

creatingaminimumviableproduct(MVP),usingtheout-of-theboxfunctionalitiesfromyour

digitalbankingvendorsasmuchaspossible.Thisapproachallowsbanksto

runtheinitialreleasewithalimitedbudgetandwillalsode-riskimplementation.AsthefoundationisbeingInterestedto

learnmore?Justreach

out

and

connect,ourconsultantsandcreativeswouldbehappyto

guideyou

inthisprocess.3INTRODUCTIONWhatishappeningwithbanks

andtheirbrandsINTRODigitalisdestroying

BankBrandsFULLRADARFINANCIAL

PRODUCTS

ARE

MOVINGFROM

PLACE

TO

SPACEFEATURESBankingproductsmustbeableto

liveindigitalecosystems.Eitherby

addingadigitalinterfaceorcreatingfullyintegrateddigitalproductsandservices.Acompetitive,multilayeredenvironmentdemandsnewways

ofmarketingto

constantlymaximisetheengagementtheyhave

withthecaptiveaudienceofcustomersusingtheirproducts.DIGITALIS

DRIVING

BANKINGEXPERIENCE

RELATIVITY

AT

ANENORMOUS

RATEBordersbetweenbrandsandbrandcategoriesareevaporating.Customerseasilyswitchfromstreamingcontentto

orderingfood,changingtheirutilityproviderto

buyingnewproducts.Thesamehappenswithbanks,creatinganopenandlevel

playing?eldwhereabrandmighthave

theupperhandonemoment,butinthenextseestheirexperiencebeingsurpassedby

competitiontheydidn’teven

considerbefore,like

we’ve

beenseeingrecentlywithFintechs,Insurtechs,DeFi,etc.RECOM-MENDAT-IONSBANKS

ARE

FACED

WITH

AN

EXPLOSIONOF

DIGITALTOUCHPOINTSCONTACTHundredsofinteractionsmake

upthecustomer’sexperienceandrealperceptionofabank’sbrand,insteadofwhat’s

promisedinmarketingcampaigns.Touch

pointsarenotalltakingplaceinalinearjourney,

turningeverysingleinteractionintoamake-or-breakmoment.Withsomeofthemeven

disintermediatedfromthedirectcontrolofabank,makinganeutralratingthehighestattainable.4INTRODUCTIONReport

lensesINTROThisreportoffersanoverviewoftheglobal?nancialservicesapplicationmarket.To

keep

thereportfocused,we’ve

usedthe?ve

lensesbelow.FULLRADARFEATURES1.

FEATURES2.

RETAILBANKINGThereportfocusesonretailbankingservicingprivateindividuals.Featurestargetingbusinesscustomersonly,

arenotincludedinthereport.3.

MOBILE4.

GLOBALVIEWWe’ve

includedfeaturesfromallover

theworldtoprovideaholisticoverviewandshowcaseitemsthatarenotwidespread.Thefrequencyassessmentinthereportisalsodonefromaglobalpointofview,soavailabilityofafeatureonaspeci?cgeographicalmarket

maydiffer.5.

CUSTOMERHerewe

arediscussingfeatures:functionalityprovidedto

customers.Theyareacrucialpartofcustomerexperience.To

fullyunderstandAPPLICATIONSANGLERECOM-MENDAT-IONSFeaturesrepresentedherecomefrommobileapplications.Therefore,ourassessmentofthefeaturefrequencycoversonlyitsavailabilitythroughmobile.We

choseto

stay

inthecustomer’sshoesandfocusonfunctionalityvisibletothem.SomeofthefeaturesmayrequirecomplexCONTACTcompetitiveposition,analysisofthefullproductandbrandingisrequired.algorithmsandsolutionsruninthebackground,stillforthecustomeritisavailablewithataponabutton.5FullRadarINTROFULLRADARFEATURESRECOM-MENDAT-IONSCONTACT6FULLRADARRadardimensionsINTROAllfeaturescollectedforthisreportaredistributedby

dimensions:Forabetterunderstandingofthesefeatures,we

categorisedtheminthreedifferenttypesbasedonhowfrequenttheyare.The“MUSTS”arethemostobservedonthemarket

andthe“DIFFERENTIATORS”aretheleastcommon.FULLRADARMUSTSRINGS:

FREQUENCYTheringsrepresenthowfrequentthefunctionalityisontheglobalmarket.Theclosertheringisto

thecenter-themorefrequentthefeaturesareonthemarket.TheMUSTSfeaturesareeasilyobservedinthemajorityofbanks,andoftenworkasenablersforDELIGHTERSandDIFFERENTIATORS.Thisiswhatacustomerexpectstoseewhileinstallingaretailbankingapp.Theyarereadilyavailableonthemarket.Nothavingthesefeaturesinanappmayleadto

losingclientsto

competition,unlesstheappishighlyspecialised.FEATURESRECOM-MENDAT-IONSDELIGHTERSDELIGHTERSarefeaturesthatarenotresoundinglycommononthemarket.Theyarenotnecessarilyamusthave

andifacustomerwantsto

have

thisfeature,theystillhave

agoodchoicebetweenseveralproviders.Thesefeaturesarealsoseenascoolideasthathelpcustomersto

improve

theirbankingusebeyond

basics.SECTORS:AREA

OFCUSTOMEREXPERIENCEAreasofcustomerexperience,coveringthetypicalneedsofbankingusers.Infeaturesthathave

morethanoneuse,we

tendto

optforthemostrelevantexperiencearea.CONTACTDIFFERENTIATORSDIFFERENTIATORSaretheleastcommononthemarketandareoftenexclusiveto

particular?nancialserviceproviders.Ifacustomerwantsto

have

thisfeature,theycan’tjustgo

to

competition.7FULLRADARRadarsectors:areasofcustomerexperienceINTRORadarsectorsindicatewhatareasofcustomerMANAGEFINANCESCapabilitieshelpingcustomersto

understandandmanageexperiencethefeaturesaddress.FULLRADARtheir?nancesbetter,preventingunnecessarylosses.MANAGEACCOUNTFeaturesrelatedto

managingandupdatingtheaccount.SAVE

MONEYFunctionalityhelpingpeopleto

savemoneyandmanagetheirsavings.FEATURESOPEN

ACCOUNTINVEST

MONEYFeaturesrelatedto

becomingthecompany’scustomerandopeninganaccount.Featuresenablingusersto

invest

theirmoneyoranalysetheirinvestments.RECOM-MENDAT-IONSBUY

THINGS

AND

PAY

BILLSEnablersforpurchasingproductsandservicesfromdifferentvendors.CONNECT

AND

IMPACTFunctionalityallowingcustomersto

?ndhelp,connectorengageincharitableactivities.CONTACTPAY

OTHERPEOPLELOAN

MONEYFeaturescoveringmoneytransferstootherprivateindividuals.Functionalitysupportingcreditproductsandcreditprocesses.GET

PAIDFunctionalitycoveringreceivingmoneyandretrievingcash.8FULLRADAROverviewUpdatedinthiseditionNewinthiseditionINTROHowtouse:

click

on

oneof

the

dotstoviewtheinformationdirectly.MANAGEACCOUNTMANAGEFINANCESSAVE

MONEYINVEST

MONEYFreezingandblockingManagenoti?cationsChangecontactdataBasicreportingActivityalertsManageavailabilityabroadSavingaccountinappPortfolioviewandmanagementCryptocurrencyFULLRADARTransfer

betweenownaccountsSavinggoalsMUSTSAuto-pilotforinvestmentsPortfoliorebalancingDELIGHTERSDIFFERENTIATORSApp/card

lookpersonalisationChangePINSharedsavingsAutomatedtransfersRoundingViewallyour

accountsInsuranceFEATURESOPEN

ACCOUNTLoginwithbankdataIn-appsearchViewcardinARFunctionselectionDatawalletInvestment

performanceanalysisInvest

your

changeLong-termplanningSpendanalysisBudgetingConditionalrules/IfThisThenThat(IFTT)Gami?edsavingsSocialmechanismsMaybuyCurrentaccountsIn-apponboardingShared/jointaccountsJunioraccountsChataccountTravel

modeDualPINAdd-onsTrack

earnedwagesPeoplelike

youFinancialhealthscoreSecuritymeterRECOM-MENDAT-IONSBUY

THINGS

&PAY

BILLSPAY

OTHERPEOPLEGET

PAIDLOAN

MONEYCONNECT

&

IMPACTCross-banktransfersCancelpaymentorderPay

by

akeyCheckdepositEarlysalaryPre-approvedcreditOverdraftChatbotCONTACTBillpaymentVirtualassistantDonationsPaymentcardsThird-partypaymentBillscanningCashbackDigitalmortgageorremortgageCreditbackintimeJeonseloansIBANcheckerFindATM/branchATM

inanAppGenerateaPINSidehustleGiftsPay

withalink/requestpaymentAutoacceptSustainabilityinsightsChatwithfriendsHealthmanagementBetsandlotteriesDirectdebitCreditscoreanalysisCreditbuildingservicesPeer-to-peerlendingCreditboostsSplitbillsPaymenttypeselectionNearmeDealsPay

by

QRIn-chatpaymentsPay

kidsforchoresBuywithQRTipyour

bankerAnti-embarrassmentGobackintimeAccommodationbooking9FFEATURESFullRadarINTROClick

on

one

of

the

dotsinthe

radar

toviewdirectly.FULLRADARFEATURESDIFFERENTIATORS

DELIGHTERS

MUSTSMUSTSDELIGHTERS

DIFFERENTIATORSRECOM-MENDAT-IONSCONTACT10FEATURESOpenanaccountMUSTSBACK

TORADARINTROFULLRADARFEATURESCurrent

accountsAbilityto

seeandmanagecurrentaccountsisperceivedasthecorefunctionalityofretailbankingapps.Dependingonthemarket,usersmightalsoexpectforeigncurrencyaccounts

functionalitiesandrespectivefeaturesallowingcurrencyexchange.Whileinmanycasesaccountsgetnumbersorgenericnames,somebanks,like

BPIorANZ,allowcustomersto

rename/nicknameaccounts.RECOM-MENDAT-IONSBankofAmericaCONTACT11FEATURESOpenanaccountDELIGHTERSBACK

TORADARINTROFULLRADARShared/joint

accountsInadditionto

apersonalaccount,viewedandmanagedby

asingleperson,userscanalsoget

acurrentaccountsharedwithotherpeople.Organisationslike

86400,INGandVirginMoneyallowcustomersto

have

ajointaccountandissueanadditionalcard.Userscanuseitforday-to-dayexpenses,savingsorto

managemoneyforspeci?cevents-justasausualaccount.FEATURESIn-app

onboardingWhilesomebanksstillrequirepeopleto

go

to

abranchto

becomeacustomer,digitalonboardingbecomesmoreandmorewidespread.Anonboardingprocesstypicallyinvolves?llinginpersonalandcontactinformation,submittinganIDdocumentandtakingasel?eforalivenesscheck.Theprocessfromclickingtheregisterbuttonto

beingactuallyableto

usetheaccountcantakefromunder10minutesto

severaldays.

Thenumberofclicksrequiredto

completetheregistrationvariesaswell.86400Junior

accountsRECOM-MENDAT-IONSThisisaspeci?ccaseofasharedaccount,suitableforuseby

children.Oftenremainingapartofaparent’spackage,theseaccountsandcardsprovidecorebankingfunctionality-payments&savings-to

teenagersandkids.Inmostcasestheparentstillretainscontrolover

theaccount,setspendinglimitsandcanfreezeandunfreezecards.Sometimes,asincaseofRevolut,theaccountandcardcannotbeusedto

paycertainmerchants,eg.gamblingcompanies.TinkoffJuniorallowskidsto

requestmoneyfromparents,addingexplanationofhowthismoneyisgoingto

beused.N26CONTACTRevolut12FEATURESOpenanaccountDIFFERENTIATORSBACK

TORADARINTROFULLRADARFEATURESChat

accountKakaoBanktakesjointaccountsastep

further.AcustomercancreateanaccountoutofKakaoTalk

chatroomandshareitwithupto

100friends.Allparticipantscanseebalancesandpaymentsfromtheaccountortransfermoneythere,whiletheaccountownerretainscontrolovertheaccount.RECOM-MENDAT-IONSKakaoBankCONTACT13FEATURESManageaccountMUSTSBACK

TORADARINTROFULLRADARFEATURESFreezing

and

blockingManagenoti?cationsBeingableto

freezeorblockacardoraccountisviewedIntimeswhencustomersfeeloverwhelmedby

theamountofpushnoti?cationstheyarereceiving,havinganopportunityto

decideinwhatcasesyour

?nancialserviceprovidercancontactyou

iscrucial.Therefore,thisfunctionalityisdeemedessential.Sometimesitisrepresentedby

asinglebuttonturningoffallpossiblenoti?cations,inothercasestheuserispresentedwithawideroptionselection.Somebankseven

allowcustomersto

managealltheirtouchpointswiththeorganisationintheapp,selectingwhatletters,e-mails,SMSetc.Theywishto

receive.asamajorsecurityfeatureby

customers.Applicationsallowthisfunctionalityonthego,wheneverusersfeeltheirassetsarecompromised.Typicallybanksofferfunctionalityto

blockthecard,followedby

acardre-issueifthecustomerwantsto

continueusingtheaccount.Otherbanksallowthecustomerto

temporarilyfreezetheaccountandunfreezeitlater.

Asmallnumberofbanksallowcustomersto

lockaccessto

on-linebanking.RECOM-MENDAT-IONSRoyal

BankofScotlandBarclaysCONTACT14FEATURESManageaccountDELIGHTERSBACK

TORADARINTROFULLRADARChangePINChangingPINcodeonacreditcardnolongerimpliesgoingto

abranchor?ndinganATM.

Someappsallowusersto

changetheirPINcodewherevertheyare.Changecontact

dataTheprocessofchanginganaddressorphonenumberFEATURESaswellasotherpersonaldatacanalsobetransferredtothemobileapp.Thisisnotauniversallydigitaloffering,asmanybanksareaskingtheircustomersto

contactthemby

phone,notrelyingonlyontheapp.RaiffeisenBankLoginwith

bank

dataNationalAustraliaBankSomebanksofferanopportunityto

loginto

otherorganisations’appsorwebsitesusingbankdata.Withthismethodaclientbuying,forexample,insurance,willbeforwardedto

thespeci?cscreenintheirbankingapptologin.ThisisapartnershiponDutchmarket

withtheloginmethodavailableonmorethan200websites.RECOM-MENDAT-IONSApp/cardlook

personalisationSomebanksallowcustomersto

adjusttheirappslookorordercustomisedcards,rangingfromjustchangingacolorto

creatinguniqueimages.Bunqeven

allowscustomerstopickapreferrednameto

beshownonthecard,whileZAbankallowscustomersto

chooseacardnumber.Itisalsonotuncommonto

offertwothemes-darkandlight,allowingcustomersto

choosewhicheveroneismostconvenientto

them.CONTACTINGKakaoBankIn-app

searchIn-appsearchhelpsusersto

quickly?ndrightinformation,contactsoreven

otherfeatures.Infeature-heavyappsthiscansigni?cantlyimprove

userexperience.Revolut15FEATURESManageaccountDIFFERENTIATORSBACK

TORADARINTROFULLRADARViewcard

in

ARN26customerscanhave

asneakpeakoftheircardevenbeforeitarrives.Theappusesaugmentedrealityto

showwhatyour

newcardwilllooklike.FEATURESAdd-onsN26Bunqallowsusersto

buildtheirownapplicationsandfeatureadd-onsfortheapp.Itbuildsacustomer-centeredcommunitywherepeoplecanrequest,buildandintegratefunctions,makingbankingmoreconvenient.Function

selectionBunqStarlingallowsitscustomersto

selectthefunctionsthatareavailableintheapp.Userscan‘turnoffoptionssuchascashwithdrawal,contactlesspayments,onlinepayments,useofmobilewalletandgamblingtransactions.Security

meterRECOM-MENDAT-IONSBankofAmericaintroducedafeaturesallowingitscustomersto

assesshowsecuretheirbankingexperienceis.Thisdelicatelynudgesclientsto

adoptsaferappusagehabitsandimprove

theirprivacyandsecurity.StarlingCONTACTData

walletRabobank’sspin-outDatakeeperenablescontrolledpersonaldatasharingbetweencustomersandorganisations.Datakeeperhelpsuserscontrolwhatdatatheyshareandwhentheyshareitwithorganisations,enablingusersto

keep

alltheirpersonaldatainoneplaceandupdateithassle-freeifneeded.BankofAmericaRabobank/Datakeeper16FEATURESManage?nancesMUSTSBACK

TORADARINTROFULLRADARBasic

reportingOneofthecorefeaturesrelatedto

accountsandFEATUREScardsisreporting.Customersexpectaccessto

thebasicinformationlike

balanceandlatesttransactionscumulativelyandforseparateaccounts/cardstheyown.Customersmaywantto

notonlyto

viewthereports,butalsoto

exportthem,asthesekindofdocumentscanberequiredforcertainpurposes.Manageavailabilityabroad

(if

required

bythe

bank)Manybanksusedto

requirecustomersto

informtheorganisationabouttripsabroad.Thissecuritymeasurerequiredthecustomerto

callormessagethebankabouttheirtripdestinationandtraveldates.Currentsecurityalgorithmsallowusersto

verifytransactionswithoutthismeasure,butsomebanksstillrequestnoti?cation.Inthiscaseorganisationsofferanin-appfeatureallowingcustomersto

doso.CitibankRECOM-MENDAT-IONSRoyal

BankofScotlandActivityalertsThisfeatureallowscustomersto

beinformedassoonassomethinghappens.Typically,

event-basednoti?cationsjustinformthecustomerofwhathappens,e.g.therewasaloginfromadifferentdevice,transaction,passwordchangeorchangeinbalancethatbroughtitto

apreviouslyidenti?edlimit.Iftheactivityisdeemedassuspiciousby

thebank,thenoti?cationcanalsopromptthecustomerto

con?rmtheaction.SomebankslikeWatertown

allowusersto

indicateadditionalcontactsfornoti?cations,somorepeoplethanjustthecustomerareinformedaboutactivities.CONTACTBankofAmerica17FEATURESManage?nancesDELIGHTERSBACK

TORADARINTROViewall

youraccountsMoreandmoreorganisationsallowcustomersto

seenotFULLSpend

analysisonlyaccountsinaparticularbank,butalltheiraccounts.Althoughthisfeatureisoftenavailableas‘viewonly’,itsigni?cantlyaddsto

transparencyandhelpscustomerstomanagetheirfundsmoreef?ciently.RADARBankingappsgo

beyond

justshowingcustomerstheirtransactions,butalsoanalyseandprovideinsightsabouttheirspendinghabits.Spendanalysiscansplitalltransactionsintocategories,highlightmerchantsgettingtopspendingandeven,

intheHayorMoneseapp,createamapofspendinglocations.Organisationsalsotryto

makeiteasierforpeopleto

seethefullpictureoftheirspendinghabits,sosomeplayerslike

Bunqallowcustomersto

scanreceiptsnotcovered

by

in-apppaymentsandincludethoseintheanalysisaswell.FEATURESDigibankInsuranceMoneseAlthoughinsuranceisadifferentbusiness,manyorganisationsofferitwithinbankingapps.Theofferingscanincludefamiliarproductssuchaslife,travel,responsibility,homeandcarinsurance,orofferingscloserto

theinitialdigitalbankinglike

mobiledeviceinsurance(e.g.Revolut,N26,Monzo).Sometimesinsuranceisincludedinbankingplans.Theprocessofsigningupforinsurancevaries,butoftencanbefullydigital.RECOM-MENDAT-IONSBudgetingThisfeaturetakesspendanalysiseven

further,helpingusersto

predicthowmuchtheyaregoingto

spendinthenextperiod,setspendinglimitspercategoryorevenpre-bookexpectedexpensesalreadyonthedayofwhentheuserisgettingpaid.InAustralianUpuserscanalsoseespendablebalanceinsteadofusualbalance.Spendablebalancetakesintoaccountregularpaymentsandtimeto

thenextpaycheck.N26helpsitsclientsto

plantheirbudgetaccordingto

the50/30/20

rule,offeringto

splittheearningsinto‘needs’,‘wants’and‘savings’.Nubank,lifeinsuranceCONTACTLong-termplanningRevolutING,RabobankandUpgo

beyond

openbankingandshort-termbudgetingaimingto

helptheirprivatebankingcustomerswithlong-term?nancialplanningwhichmayincludevalueoftheirhousing,investmentandotherproperty.

Thishelpsto

buildaholisticlong-termpictureofcustomers’?nancialfuture.Rabobank18FEATURESManage?nancesDIFFERENTIATORSBACK

TORADARINTROFULLTravelmodeAustralianappHayoffersaspecialtravelmodeto

itsusers.Astheytravelto

anothercountry,theappstartsto

showbalanceandtransactionsbothintheirhomeandlocalcountry,basedongeolocation.Peoplelike

youRADARHongKong

WeLab

Bankintroducedafeature‘Peoplelikeyou’

allowingusersto

comparetheirownspendinghabitsto

othersimilarpeople’shabits.Itdoesnotprovideexactnumbers,however,

stillgivesusersdatato

reassesstheirspendinghabits.FEATURESHayDual

PINBunqallowsitscustomersnotonlyto

splittheiraccountsintosub-accountsforbudgetingpurposes,butalsoto

spenddirectlyfromthesesub-accountsviauseofdifferentPINs.Forexample,ausercansetseparatesub-accountsforfamilyandbusinessexpensesusing1234asPINcodeforone,and4321foranother.ThengroceriesboughtwithPINcode1234wouldautomaticallybeassignedto

thefamilysub-account,whilestationaryboughtwithPINcode4321wouldbeassignedto

thebusinesssub-account.Disclaimer:we

donotrecommendusing1234and4321asPINcodes.RECOM-MENDAT-IONSWeLab

BankFinancial

health

scoreMoneyLioncalculatestheirusers’?nancialhealthscorebasedonhowtheyspend,save,

useinsuranceandmanagecredits(creditscore).Thisallowstheapptoprovidepersonalisedbudgetingandplanningadviceandhelpscustomersto

increasetheircash?ow,

budgets,creditandsavings.BunqCONTACTTrackearnedwagesMoneyLionThisfeatureallowspeopleto

trackhowmuchthey’veearnedthroughoutthemonthoraftereachshift.Thisfeaturecomplimentsearlysalarywithdrawal,offeringclientstheabilityto

withdrawupto

50%oftheirsalarythathasyet

to

bepaidbuthasalreadybeenearned.Revolut19FEATURESSave

moneyMUSTSBACK

TORADARINTROFULLRADARFEATURESSaving

account

in

the

appTransferbetweenownaccountsAnotherbasicfunctionenablingsavings.Aconvenientway

to

reshuf?emoneybetweenusersownaccountsisessentialto

startsavingsorretrieve

fundsincaseofunexpectedexpenses.Inadditionto

currentaccounts,customersexpectsomeformofasavingsaccount,whetheritisatraditionalone,termdepositorreimaginedaccountinaformofavault,jars,potsetc.To

illustratethebene?tsofsavings,companiesoftenprovidesavingscalculators,whereuserscancalculatethegrowthoftheirsavings.TimoRECOM-MENDAT-IONSSantanderCONTACT20FEATURESSave

moneyDELIGHTERSBACK

TORADARINTROFULLSaving

goalsTo

make

savingsmoreconcreteandincreasecustomers’AutomatedtransfersRADARSettingautomatedtransfersfromcurrentto

savingsaccountshelpsmake

savingmorehassle-free.Thisfeatureusedby

manybanks(includingABNAMRO,Wells

Fargo,Monzo)saves

usersextraclicksandhelpsto

turnsavingintoahabit.Transferscanberegular,tiedto

aparticularperiod,asontheillustrationfromChaseortriggeredbyevents,e.g.salarypayments,as‘Save

whenIget

paid’functionfromChime.motivationto

save,

companiesallowusersto

setatime-boundgoalforsavings.Reimaginedsavingsaccountslike

jars,vaults,boxes,staches,spacesetc.oftenallowcustomersto

splitsavingsaccordingto

goals(e.g.holidays,house,rainyday),namethemrespectivelyandeven,

asMonzodoes,attachapicturevisualisingthedesiredobjective.Thisallowspeopleto

bemoreprecisewhenplanningtheirsavingsandspending,whilealsohelpingusersto

stay

dedicatedto

thegoaltheypursue.FEATURESDigitJPMorganChaseBankRoundingRECOM-MENDAT-IONSThisfeaturetakesautomatedtransfersonestep

further.Itallowsyou

to

roundupanypurchaseto

thenext1/10/100unitsofcurrency,sendingthedifferenceto

savings.SomeBanksallowamultiplierto

theroundedamount.Roundingfunctionalityprovidesusersanotheropportunitytocontributeto

theirsavings.Shared

savingsChimeSimilarto

sharedcurrentaccounts,bankingcustomerscannowenjoysharedsavingsaccount.Whilemechanics-wisethesetwoofferingsaresimilar,theirsetupmightencouragediffere