App-based banking – is this the future?

bxboards

Very long term, possibiy but short term, I think banks and app advocates in general forgot that not everyone has a smart phone, and out of the people who do, many people will not wish to put too much trust in a device that can be easily lost or stolen.

I think it's also a generation thing - last year I signed up to Atom Bank which was mobile only - I can't think of a more dreadful banking experience, and I speak from the days when internet banking became a 'thing' with very slow connections and very basic interfaces. The Atom app looks and felt that it had been designed by and to be used by small children - more like a Fisher Price toy that a real tool. What worries me is that clearly the bank thought they had something great! I suspect that the younger generation more used to small screens will take to them, as to some extent they don't know any better.

I do use a few mobiles apps and generally think they are fine, but many things are simply more suited to a larger screen and a keyboard. Many banking processes also require 'calculator' type devices for security, so while you may bank on the go, I suspect most people won't carry these as well, which limits banking functionality.

So...yes..but it will take a while.

bxboards

AnotherJoe wrote: »

Wasting money to implement on phones and OS's that practically no one uses? Implementing their apps on insecure unpatchable devices? Hopefully not.

You do realise that the OSs you claim 'no one uses' are actually easily the most used?

https://developer.android.com/about/dashboards/index.html

4.4 KitKat 19 21.9%
5.0 Lollipop 21 9.8%
5.1 22 23.1%

I make that over 50% which is a majority.

Your definition of 'no one uses' is rather different to mine and Googles!

Anthorn

bxboards wrote: »

You do realise that the OSs you claim 'no one uses' are actually easily the most used?

https://developer.android.com/about/dashboards/index.html

4.4 KitKat 19 21.9%
5.0 Lollipop 21 9.8%
5.1 22 23.1%

I make that over 50% which is a majority.

Your definition of 'no one uses' is rather different to mine and Googles!

Not to mention iOS 9, 10 and 10.2.1 lol

But I see AnotherJoe's point: Recent news is that older mobile phones and making a comeback. So if everyone abandons their smart phone what price banking apps or any apps for that matter. Come back Siemens all is forgiven!

AnotherJoe

bxboards wrote: »

You do realise that the OSs you claim 'no one uses' are actually easily the most used?

https://developer.android.com/about/dashboards/index.html

4.4 KitKat 19 21.9%
5.0 Lollipop 21 9.8%
5.1 22 23.1%

I make that over 50% which is a majority.

Your definition of 'no one uses' is rather different to mine and Googles!

I didnt claim that no one uses those OS's. I was referring (not very well I admit) to the use of for example Windows OS and Blackberry phones (Blackberry just dropped to a rounded zero percent useage this month, Windows OS is about 1%. So no vendor in their right mind woudl bother developing for devices using those)

As to the fact that the majority of users are stranded on OS's which are ridden with critical security bugs that cannot be patched, if I was developing a banking App, I'd no more make it available on those than I would on a Jailbroken Android or IOS device.

bxboards

AnotherJoe wrote: »

I didnt claim that no one uses those OS's. I was referring (not very well I admit) to the use of for example Windows OS and Blackberry phones (Blackberry just dropped to a rounded zero percent useage this month, Windows OS is about 1%. So no vendor in their right mind woudl bother developing for devices using those)

As to the fact that the majority of users are stranded on OS's which are ridden with critical security bugs that cannot be patched, if I was developing a banking App, I'd no more make it available on those than I would on a Jailbroken Android or IOS device.

Windows OS is about 1% but the very latest Android 7.1 is 0.3%

So by your own statement ' So no vendor in their right mind would bother developing for devices using those'

IMHO you either need to develop apps or you don't, but I don't think market share should be a key driver, and nor do I think only the latest phones should be able to bank online. It's a self-defeating policy.

It's also naive to assume phone will later OS are automatically more secure - this may just mean no one has found the bugs yet because of such low uptake. Phones tend only to be patched for an 12-18 month cycle. Bugs will be found in 7.1 as well..so what do you do, wait for 8.0 or 9.1 or develop for what you have now? I think by your own rules, you'd never actually publish anything...

JuicyJesus

To be honest I don't really see how a full-service bank can exist solely through an app unless it's incredibly basic and doesn't do half the things an actual bank does. For most people's daily needs it'd most likely be fine, but as soon as you need something a bit more complex or an issue arises you'd want to be able to talk to an actual person somehow. I do as much as I feasibly can digitally but I've still found myself needing to call up a few times, albeit not often.

AnotherJoe

bxboards wrote: »

Windows OS is about 1% but the very latest Android 7.1 is 0.3%

So by your own statement ' So no vendor in their right mind would bother developing for devices using those'

IMHO you either need to develop apps or you don't, but I don't think market share should be a key driver, and nor do I think only the latest phones should be able to bank online. It's a self-defeating policy.

It's also naive to assume phone will later OS are automatically more secure - this may just mean no one has found the bugs yet because of such low uptake. Phones tend only to be patched for an 12-18 month cycle. Bugs will be found in 7.1 as well..so what do you do, wait for 8.0 or 9.1 or develop for what you have now? I think by your own rules, you'd never actually publish anything...

Don't write apps for OSs that have known major security flaws not much you can do about unknown ones other than Focus on vendors that has a record of updates. Apple and Google native devices. Maybe some of the other big names like Moto, Sony, huawei ?

Anthorn

JuicyJesus wrote: »

To be honest I don't really see how a full-service bank can exist solely through an app unless it's incredibly basic and doesn't do half the things an actual bank does. For most people's daily needs it'd most likely be fine, but as soon as you need something a bit more complex or an issue arises you'd want to be able to talk to an actual person somehow. I do as much as I feasibly can digitally but I've still found myself needing to call up a few times, albeit not often.

You hit the nail on the head: "For most people's daily needs." For example B does it with current account, savings account with separate savings pots, spending with labels to track spending, budgeting, payments with standing orders, DDs and one-off payments. In short a full-service bank account in a mobile app. But the big benefit is branches of Clydesdale and Yorkshire Banks, online banking and telephone banking which you don't get with an app-only bank.

I actually switched to B because I got impatient waiting for app-only Starling Bank. App-only full-service banking is coming and set to be the next big thing .... when they arrive which I think will not be any time soon.

boliston

I generally find "apps" annoying things to have to download, install and use.

I have chrome on my phone and this is the only "app" I really ever use, including all my online banking needs.

No_6

So all you lot that don't use phone apps ?
what do you use for your accounts/package/budget...etc
some phone thingy or pen and paper for 1 or 2 accounts ?

what happens when you get 20 plus accounts .