|By PR Newswire||
|November 26, 2012 04:59 AM EST||
MUMBAI, November 26, 2012 /PRNewswire/ --
- User Experience Leaders are ICICI Bank, Tata Capital, HDFC Bank, Axis Bank and State Bank of Hyderabad
- On Many Other Websites, Online Customers are Neither Engaged nor Converted due to Poor User Experience
In the first-ever syndicated user experience research report in India, Kern, a global user experience company, benchmarked the user experience of 32 prominent banks and financial institutions' websites in India. The research report 'Acquiring Car Loan Customers Online' throws shocking insights about the user experience of banking websites in India.
User experience (UX) is a specialized field dedicated to 'ease of use' of online products and services. In the recently concluded 6th Economic Times Banking Technology Conclave, RBI's Executive Director G. Padmanabhan, during the keynote address, highlighted the importance of user experience in online banking, "Banks need to examine how they can make electronic transactions safe and secure while providing customers equal or more ease, comfort and convenience compared to branch banking."
According to Ripul Kumar, Director of Research at Kern, "Western banks reap good customer engagement and conversions online as many have embraced good user experience practices over the past two decades." "Despite Internet evolving as an important channel for customer acquisition, banks in India neglect the user experience of their websites. Apart from the leaders like ICICI Bank, banks turn away significant chunk of online customers everyday," he adds.
According to the report, the leader ICICI Bank has a UX Index 75.31 out of the maximum 100, a 30% lead from the runners-up Tata Capital at 58.32. ICICI Bank leads the UX Index because prospective customers are able to find relevant pages easily, get complex information in a user-friendly way, and can become a customer-all easily online, without human intervention.
The other user experience leaders are HDFC Bank at 54.76 and Axis Bank at 51.34. The only public sector bank in Top 5 is State Bank of Hyderabad with the UX Index of 49.93. The worst performing bank has a UX Index score of 18.07.
Contrary to popular belief, public sector banks actually provide overall better user experience than private banks. Overall, new private banks lead the user experience with an average score of 52.51.
This 100-page report analyzes the relative user experience of competing websites. Illustrated with more than 110 annotated screen shots of featured websites, graphs and tables; the report provides more than 60 major UX insights. Banks can instantly use these to increase online engagement and conversions. Supplemented the insights are over 70 design recommendations along with industry best practices.
This benchmark UX report will be useful for product owners, customer experience managers, marketing heads, and digital channel owners of financial institutions. Institutions planning to improve or launch their online services will significantly benefit from the research findings. Research companies will find this specialised report useful for banking industry analysis. Financial regulators will find benefits in forming guidelines about great online user experience for member institutions.
The report comes in at a time when the volume of car financing is increasing rapidly at 40% per year and active Internet users in India are more than 11.1 crore. Banks and leading financial institutions now consider the Internet as an important channel to offer loan services to customers.
The 32 financial institutions covered in the research report are Andhra Bank, Axis Bank, Bank of India, Bank of Baroda, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Federal Bank, HDFC Bank, ICICI Bank, IDBI Bank, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Kotak Mahindra bank, Mahindra Finance, Oriental Bank of Commerce, Punjab National Bank, State Bank of Bikaner and Jaipur, State Bank of India, South Indian Bank, State Bank of Hyderabad, Sundaram Finance, Tata Capital, The Saraswat Cooperative Bank, UCO Bank, Union Bank, United Bank of India, Vijaya Bank, and Yes Bank.
About Kern Communications:
Kern Communications is a global user experience consulting company. Headquarted in India, Kern has been improving the user experience of banking technology, medical products, mobile phones, enterprise software, online gaming, and aviation services for the past one decade.
Kern's user experience consulting services are:
- Expert usability reviews
- Lab-based usability testing
- Ethnographic user research
- User experience design
- Innovation consulting
Kern consults with global clients like Nokia, Research in Motion (Blackberry), Samsung, Sony, Google, Philips Healthcare, Lufthansa, ESPN, Standard Chartered Bank, and others to innovate and improve the user experience of products and services. Kern also works closely with leading user experience (UX) research agencies across the globe.
To know about Kern, go to http://www.kern-comm.com
Kern is a part of International User Experience Partners (IUXP), a global alliance of leading UX companies. Together, IUXP provides UX services across the globe.
Primary Media Contact: Amit Kumar, [email protected], 91-97-04501135
Secondary Media Contact: Ripul Kumar, [email protected], 91-98-66342166
As Platform as a Service (PaaS) matures as a category, developers should have the ability to use the programming language of their choice to build applications and have access to a wide array of services. Bluemix is IBM's open cloud development platform that enables users to easily build cloud-based, creative mobile and web applications without having to spend large amounts of time and resources on configuring infrastructure and multiple software licenses. In this track, you will learn about the...
Oct. 25, 2014 08:00 AM EDT Reads: 1,586
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at Internet of @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, will discuss how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money! Speaker Bio: ...
Oct. 24, 2014 09:30 PM EDT Reads: 1,142
Compute virtualization has been transformational, yet security policy implementation and enforcement has lagged behind in agility and automation. There are a number of key considerations when implementing policy in private and hybrid clouds. In his session at 15th Cloud Expo, Holland Barry, VP of Technology at Catbird, will discuss the impact of this new paradigm and what organizations can do today to safely move to software-defined network and compute architectures, including: How normal ope...
Oct. 24, 2014 07:00 PM EDT Reads: 1,446
Samsung VP Jacopo Lenzi, who headed the company's recent SmartThings acquisition under the auspices of Samsung's Open Innovaction Center (OIC), answered a few questions we had about the deal. This interview was in conjunction with our interview with SmartThings CEO Alex Hawkinson. IoT Journal: SmartThings was developed in an open, standards-agnostic platform, and will now be part of Samsung's Open Innovation Center. Can you elaborate on your commitment to keep the platform open? Jacopo Lenzi: S...
Oct. 23, 2014 11:45 PM EDT Reads: 2,603
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic • Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff hap...
Oct. 23, 2014 07:45 PM EDT Reads: 1,619
SYS-CON Events announced today that SOA Software, an API management leader, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. SOA Software is a leading provider of API Management and SOA Governance products that equip business to deliver APIs and SOA together to drive their company to meet its business strategy quickly and effectively. SOA Software’s technology helps businesses to accel...
Oct. 23, 2014 06:15 PM EDT Reads: 1,650
SYS-CON Events announced today that Utimaco will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Utimaco is a leading manufacturer of hardware based security solutions that provide the root of trust to keep cryptographic keys safe, secure critical digital infrastructures and protect high value data assets. Only Utimaco delivers a general-purpose hardware security module (HSM) as a customiz...
Oct. 23, 2014 05:45 PM EDT Reads: 1,565
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Oct. 22, 2014 09:00 PM EDT Reads: 1,484
SYS-CON Events announced today that ElasticBox is holding a Hackathon at DevOps Summit, November 6 from 12 pm -4 pm at the Santa Clara Convention Center in Santa Clara, CA. You can enter as an individual or team of up to 10 developers. A New Star Is Born Every Month! All completed ElasticBoxes will then be sent to a judging panel - 12 winners will be featured on the ElasticBox website in 2015. All entrants will receive five full enterprise licenses for one year + ElasticBox headphones + Elasti...
Oct. 22, 2014 01:00 PM EDT Reads: 1,538
Once the decision has been made to move part or all of a workload to the cloud, a methodology for selecting that workload needs to be established. How do you move to the cloud? What does the discovery, assessment and planning look like? What workloads make sense? Which cloud model makes sense for each workload? What are the considerations for how to select the right cloud model? And how does that fit in with the overall IT tranformation? In his session at 15th Cloud Expo, John Hatem, head of V...
Oct. 22, 2014 12:00 PM EDT Reads: 1,561
Cloud services are the newest tool in the arsenal of IT products in the market today. These cloud services integrate process and tools. In order to use these products effectively, organizations must have a good understanding of themselves and their business requirements. In his session at 15th Cloud Expo, Brian Lewis, Principal Architect at Verizon Cloud, will outline key areas of organizational focus, and how to formalize an actionable plan when migrating applications and internal services to...
Oct. 22, 2014 11:45 AM EDT Reads: 1,589
SAP is delivering break-through innovation combined with fantastic user experience powered by the market-leading in-memory technology, SAP HANA. In his General Session at 15th Cloud Expo, Thorsten Leiduck, VP ISVs & Digital Commerce, SAP, will discuss how SAP and partners provide cloud and hybrid cloud solutions as well as real-time Big Data offerings that help companies of all sizes and industries run better. SAP launched an application challenge to award the most innovative SAP HANA and SAP ...
Oct. 22, 2014 07:00 AM EDT Reads: 1,681
Ixia develops amazing products so its customers can connect the world. Ixia helps its customers provide an always-on user experience through fast, secure delivery of dynamic connected technologies and services. Through actionable insights that accelerate and secure application and service delivery, Ixia's customers benefit from faster time to market, optimized application performance and higher-quality deployments.
Oct. 21, 2014 09:00 PM EDT Reads: 1,519
SYS-CON Events announced today that Calm.io has been named “Bronze Sponsor” of DevOps Summit Silicon Valley, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Calm.io is a cloud orchestration platform for AWS, vCenter, OpenStack, or bare metal, that runs your CL tools puppet, Chef, shell, git, Jenkins, nagios, and will soon support New Relic and Docker. It can run hosted, or on premise and provides VM automation / expiry, self-service portals,...
Oct. 21, 2014 08:45 PM EDT Reads: 1,469
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, will focus on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud pla...
Oct. 21, 2014 07:30 PM EDT Reads: 1,563
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue bu...
Oct. 21, 2014 06:00 PM EDT Reads: 1,560
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce t...
Oct. 21, 2014 05:15 PM EDT Reads: 1,632
Blue Box has closed a $10 million Series B financing. The round was led by a strategic investor and included participation from prior investors including Voyager Capital and Founders Collective, as well as the Blue Box executive team. This round follows a $4.3 million Series A closed in December of 2012 and led by Voyager Capital. In May of this year, the company announced general availability of its private cloud as a service offering, Blue Box Cloud. Since that release, the company has dem...
Oct. 21, 2014 01:45 PM EDT Reads: 1,623
SYS-CON Events announced today that Verizon has been named "Gold Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Verizon Enterprise Solutions creates global connections that generate growth, drive business innovation and move society forward. With industry-specific solutions and a full range of global wholesale offerings provided over the company's secure mobility, cloud, strategic network...
Oct. 21, 2014 09:30 AM EDT Reads: 1,668
SimpleECM is the only platform to offer a powerful combination of enterprise content management (ECM) services, capture solutions, and third-party business services providing simplified integrations and workflow development for solution providers. SimpleECM is opening the market to businesses of all sizes by reinventing the delivery of ECM services. Our APIs make the development of ECM services simple with the use of familiar technologies for a frictionless integration directly into web applicat...
Oct. 20, 2014 10:00 PM EDT Reads: 1,789