The financial services market was one of the first to recognise the potential of mobile and, over recent years, we’ve seen huge leaps within this space. From the first balance checker app, through to mobile and contactless payments; mobile adoption has “tripled in the UK this last year” according to a new study from Payments UK, reported by The Guardian.
In 2011, the rapid growth of smartphones opened up a new channel of communication in financial services. Now, and as we wrote about recently, “100% of digital products or services are widely accepted by customers, with the financial services industry having to significantly evolve its proposition to meet consumer expectations”.
From the larger financial services organisations to the disruptive fintech startups, these companies have had to adapt to changing attitudes around security, self-service, and economic confidence; at times introducing wide scale transformation in how they operate. As services have adapted, mobility has taken centre stage forcing many financial leaders to review their approach to product development and project delivery.
To look at the changing digital landscape of Financial Service products and services, Mobile Monday Bristol held their sixth event focused on the industry. The event welcomed over 30 industry experts and was hosted by McCann Bristol, overlooking the waterfront. McCann is an integrated agency within the IPG group, with a focus on building brands through PR, digital, advertising, media & direct channels.
More specifically, Ed spoke about their recent learnings, gained through discovery and user testing activities, reflecting on the challenges they’ve faced as a business and their evolving approach to big mobile projects.
‘At HL, we aim to offer a platform and service that makes managing your investments simple. Mobile is fast becoming the most common way many users engage with a company and transact. Therefore, we need to ensure we offer a brilliant solution for that growing mobile audience.
We’re aiming to transform our mobile apps to deliver an exceptional, user-focused experience, giving our clients another tool that will help them take control of their finances.
A key part of our journey so far has been the range of user testing we’ve carried out and responding to the lessons we’ve learned so far. Hopefully, this experience can help others achieve great outcomes from user testing and, as a result, build great mobile products.’
Following Ed’s talk, the evening ended with an in-depth and educated discussion on mobile in financial services. What became the most interesting topic at this point was concerns on positioning in the market. As fintech startups increase, how will this continue to affect the larger and dominant names in the industry? And how can the larger companies learn from the approaches taken by the more agile startups?
Overall, attendees thought the event was ‘superb’ with a great crowd from across finance and digital.
“Everyone was keen to chip in with their thoughts and the open discussion at the end prompted a lot of interesting questions and opinions. There was a lot I took away from it and Gemma Coles, Bristol Managing Director of Mubaloo, as ever, offered great insights about how Mubaloo thinks companies in the FS sector can benefit from building their mobile ecosystem.”
Ed Walsh, Senior Product Manager, Hargreaves Lansdown
“I enjoyed attending my first Mobile Monday Bristol on Financial services. The event held at McCann Bristol was insightful on key trends and topics in the financial sector. Overall it added great value to me being able to connect and speak to industry professionals. I was very impressed and I would highly recommend the forthcoming Mobile Monday Bristol events.”
Adrian Pang, Account & Partnerships Specialist
If you are interested in joining Bristol’s mobile community or interested in coming and finding out what it’s all about, next month on 4 July 2016, the theme is ‘Agile’.
To attend the next event, or to speak at one of the events, you can contact firstname.lastname@example.org. Alternatively, you can keep up-to-date with the latest events on Twitter, LinkedIn, and Facebook.