We live in a day and age where, needless to say, the mobile device has completely transformed the way we live our life. From interacting with one another, to interacting with our favorite celebrity or retailer, our mobile devices are our first choice. So, when it came to doing an analysis of the web performance of the conglomerates out there, we chose to analyse the institutions that are the keepers of all that makes the world go round – banks.

Surprisingly, the majority of banks we studied failed to deliver a satisfactory mobile experience to their customers. The recent study included the top 300 banking websites when accessed via mobile and revealed that more than half performed horribly when viewed in real world mobile conditions, often failing to load in three seconds, many taking even longer or simply failing altogether.

In the modern context mobile and online access is incredibly important for banks. In a recent security scan of more than 2000 mobile applications, more than 600 companies were exposed to the most common vulnerabilities. Performance of applications can be improved by at least 40 percent by following 23 known front-end application optimisation rules. The importance of a bank’s mobile app cannot be understated; nearly half of mobile users – 48 percent – are less likely to use your app again if it does not perform well.

Banks and traditional financial institutions are also facing disruption and competition from many non-traditional sources. Consider how retailers, as well as search and consumer product companies, are all entering into the market. Apple Pay, Google Wallet and Amazon all have the potential to disrupt traditional financial services.

Jan-Mar 2016 Issue

Hewlett Packard Enterprise