Mobile apps have become the touchpoint of choice for millions of people to manage their finances; this is especially true for China, where the customers are among the most empowered in the world. We recently published our latest evaluation of the mobile apps of six banks in Mainland China, including: China CITIC Bank, China Merchants Bank (CMB), China Minsheng Bank, Industrial and Commercial Bank of China (ICBC), Ping An Bank, and Shanghai Pudong Development Bank (SPDB).
What’s the overarching story? Ping An Bank has sharply improved its mobile banking user experience and functionality over the past year but not enough to catch up with China Merchants Bank, which has been able to hold on to the top spot thanks to numerous improvements. These leading banks are now delivering world-class mobile banking experiences, both in terms of functionality and usability, yet they have to keep improving to meet the high expectations of Chinese customers. In our research, we highlighted best practices and opportunities for improvement.